Prospect Resources (ASX: PSC)
Lithium and gold explorer Prospect Resources (ASX:PSC) has been making strong progress on its projects lately, with several highlights and catalysts to come including upcoming drilling results and a first JORC mineral resource at its Arcadia lithium project.
We have been following PSC since back in June 2015 when it was a humble micro cap stock trading at around 0.06 cents – since then it has gone from strength to strength.
PSC’s JORC resource is expected before the end of October and this will be followed by a mine scoping study planned for completion prior to 31 December.
PSC has completed a total of 50 drill holes, including rock chip sampling of 316 samples at Arcadia, but Arcadia hasn’t been its only focus.
In fact PSC has picked up an option to acquire a second lithium deposit in Zimbabwe, known as God’s Gift and it is still enthused by its Gwanda East gold project, which saw its first gold production commence in April.
It is all systems go for the high achieving PSC, which is currently awaiting assay results from its diamond hole and RC drilling programmes at Arcadia.
The company is also expecting to sign offtake agreements with five Asian lithium carbonate and lithium hydroxide producers before the New Year, which could potentially put PSC in the box seat for lithium supply in that region.
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After a capital raising of $17 million, PSC is well advanced on its lithium and gold projects and has several near-term catalysts in the pipeline including bringing its main lithium project, Arcadia, closer to Q2 of 2017 production.