The US-based company is looking to raise A$13-17 million at 25c per share to list in Australia and explore what is widely considered the one of the most prospective areas in the US for hard rock lithium, targeting areas that hosted lithium production in decades past, where some of the world’s largest spodumene crystals were located.
Work has already mapped outcrops, drilling permits have been applied for, and the explorer promises a fast-paced exploration campaign across multiple brownfields targets that could support delivery of a definitive feasibility study by the end of 2025.
Historically significant tenure
The company has staked or optioned around 93sq.km in the Black Hills, including the previously worked Ingersoll and Mateen lithium mines and the Old Mike tantalum-mica open pit.
The Black Hills was once one of the world’s main producers of hard rock ore, with at least 70,000 tonnes at 6% lithium reportedly recovered before demand fell in the 1950s, and the district slipped into obscurity.
With US domestic demand for lithium rising the district has become an obvious place to focus.
