Carbine Tungsten Limited (ASX:CNQ)
As part of South America’s lithium triangle with Bolivia and Argentina, Chile holds 27% of global lithium reserves and contributes to more than 50% of global production.
With lithium brine grades in Chile comparing favourably to Albermarle’s Silver Peak mine in Nevada – currently the only operating lithium mine in North America, there is potential for additional Chilean lithium brine resources to be unlocked.
Today’s ASX listed company has just secured five exploration concessions within northern Chile as part of its strategy to position itself as a low cost lithium producer.
This tiny company is capped at just $3.8M, and as a microcap stock is not for the feint hearted, but if it can shore up its lithium play it may be well on its way to a higher valuation over the coming months.
This ASX stock’s game plan is to complete drill testing and sampling to fully delineate commercially viable lithium brines in the next 12 months.
And should it report favourable early results from its current holdings, then further applications for exploration concessions could be made in the coming weeks.
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Lithium is not the only play on this company’s books, it also has a gold exploration project and an advanced tungsten project both situated in Australia, which could all have a long shelf-life moving forward.
Results from its NSW gold prospects are in the pipeline, however it is the lithium play that has the most promise for this company currently as it looks to shore up its position at a time when the race for securing lithium resources is electrifying.