Arkle Resources shares rose by 8% after the discovery of lithium and magnesium in Botswana’s Makgadikgadi Salt Pans. All samples tested positive for lithium, and significant magnesium levels were also found. The company plans to use Direct Lithium Extraction (DLE) for potential mining, as it is cost-effective and eco-friendly.
Arkle Resources PLC (AIM:ARK) experienced an 8% surge in shares following the confirmation of lithium and magnesium deposits in its Makgadikgadi Salt Pans exploration project located in Botswana. All samples analyzed returned positive results for lithium, suggesting a favorable environment for further investigations into the lithium concentrations within the expansive 937 square kilometer license area.
The company reported not only lithium but also unexpectedly high levels of magnesium, with eight samples showing over 1% magnesium content. This finding is significant as it could enhance the economic viability of the project.
Arkle Resources has indicated that the extraction of these metals may utilize Direct Lithium Extraction (DLE), which is touted for being both cost-effective and environmentally sustainable compared to conventional mining methods. The company is now prioritizing additional exploration to fully evaluate the potential of the claims made within this significant site.
Following the announcements, Arkle’s stock showed an increase of 0.025 pence, reaching a trading value of 0.35 pence early in the session.
The announcement of lithium and magnesium deposits in Botswana has led to an 8% rise in Arkle Resources’ shares, indicating a positive market response. The company’s findings of universal lithium presence and notable magnesium content could lead to economically viable extraction operations using environmentally friendly methods. Future exploration plans will be crucial in determining the full potential of the mineral deposits in the area.
Original Source: www.proactiveinvestors.co.uk
