GBX should be coming out of trading Halt today . GBX lodged an Exploration Licence Application (ELA) with the South Australian Department of State Development for an area of 351km2 approximately 120km NE of Marree. The new application (ELA 2016/6) covers the Lake Gregory salt lake where GBX is targeting evaporites, uranium, potash and lithium mineralisation. Although the tenement has not been granted as yet .
Lake Gregory is fed by a catchment containing rocks with unusually high levels of uranium and lithium (the Mount Babbage Inlier).
Also from the report they referenced in the ANN :
" Maximum concentration of lithium and boron in the catchments: These are 20 mg/kg and 1.25 mg/kg, respectively (Figures 5.28, 5.29). Salt lakes in the Frome system are located in catchments which contain felsic rocks with up to 20 mg/kg lithium. Mount Painter and Mount Babbage inliers, which are located to the west and southwest of the lakes, are known to contain an abundance of felsic and intermediate intrusive and volcanic rocks for which no lithium values have yet been reported. It is likely that these rocks may have even higher concentrations of lithium. "
Lake Gregory is fed by a catchment containing rocks with unusually high levels of uranium and lithium (the Mount Babbage Inlier).
