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BELGRADE (Serbia), July 16 (SeeNews) – Australian company Jadar Lithium, formerly known as South East Asia Resources, has detected elevated lithium and boron values during its detailed rock sampling programme at the Vranje-South project in Serbia, it said on Tuesday.
The results of the programme suggest that the basins are prospective for deposits related to strata bound ores of chemical precipitates, while X-ray diffraction (XRD) analyses confirm the presence of hexahydrite, an evaporate mineral which is indicative of a permissive geological setting, Jadar Lithium said in a filing to the Australian Securities Exchange.
"The geochemical results of detailed sampling and geophysical data have demonstrated the validity of the exploration process and have greatly aided the understanding of the basin and indicating the potential of the Vranje-South project to host Lithium – Boron mineralisation. The assay results from detailed sampling and geophysics data will aid in defining drilling targets to test defined anomalies," Luke Martino, non-executive chairman of Jadar Lithium, said in the filing.
Gravity data acquisition and interpretation provide encouraging results in regard to the geometry and structure of the Vranje-South basin, showing that it is composed of extensive lacustrine sediments, the company noted.
Regional magnetic data acquisition and interpretation indicate a magnetic anomaly of a potential volcanic source of lithium and boron, Jadar Lithium added.
Last year, the company said it completed a phase two soil sampling programme at the Vranje-South project, detecting a number of areas with elevated lithium and borate values. Jadar Lithium agreed in December 2017 to acquire the entire capital of Centralist Pty Ltd which holds five Serbian lithium exploration licences - Cer, Bukulja, Rekovac, Krajkovac, and Vranje-South - covering a total area of some 328 square kilometres.