*Fyi, To add, I see where, Rio Tinto is drilling for WA’s next...

*Fyi, To add, I see where,

Rio Tinto is drilling for WA’s next big lithium discovery

Unlike fellow iron ore giant BHP, Rio Tinto is sold on the lithium thematic.

RIO lithium boss Sinead Kaufman says it is underestimated just how much of the material needs to be mined by 2030 to keep pace with demand from EVs.

“With every project in the world that’s projected to come on, we’ll still be short by 50% of the amount of lithium that’s required to build the electric vehicles,” Kaufman says.

The mining behemoth has diversified into the popular battery metal via its stalled Jadar mine in Serbia and the US$825 million Rincon project in Argentina, which will be producing lithium carbonate from 2024.

It is also producing spodumene concentrate at a demonstration plant at its Rio Tinto Iron and Titanium Quebec Operations in Sorel-Tracy, Canada.

Now the $145 billion-dollar company is going back to its roots to look for the next big greenfields discovery.

In March, it found $25,000 between the couch cushions to pay explorer Twenty Seven Co for an initial six-month option to explore TSC’s North Rover in the central Yilgarn region of WA.

During this period, it uncovered “a sub-cropping weathered pegmatite unit that may be prospective for lithium (spodumene) and tantalum mineralisation”, TSC says.

RTX subsequently exercised its option to earn an 80% Joint Venture interest in the non-gold mineral rights by sole funding $5m of non-gold exploration.

This lithium target has been prioritised for follow-up drill testing.

RTX plans to conduct an initial drill program of 500-1000m to investigate the interpreted pegmatite unit in early 2023, subject to land access consents and clearances, TSC says.



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Frank