Overview
Premier1 Lithium (ASX:PLC) is an Australian firm targeted on lithium exploration in Western Australia. The corporate was shaped following the restructuring of SensOre. SensOre demerged its non-core software program and AI expertise enterprise and the remaining firm was rebranded as Premier1 Lithium to deal with the lithium enterprise.
Premier1 employs synthetic intelligence and machine studying expertise to decide on its lithium prospects. By way of a data-driven strategy, the corporate can strategically allocate sources to prioritize essentially the most promising targets.
The corporate’s portfolio includes one wholly-owned mission and three different initiatives with three way partnership (JV) companions. The wholly owned Abbotts North mission is its flagship asset, with the Buttamiah Prospect as the first space of focus. The Buttamiah Prospect is characterised by lithium-bearing pegmatite occurrences and has returned assays as much as 1.25 p.c lithium oxide on the floor.
The opposite three JV initiatives are: 1) Yalgoo and Yalgoo West Mission, with JV companions Enterprise Minerals and Firetail; 2) Montague Mission, with JV accomplice Gateway Mining; and three) Gecko North Mission, with JV accomplice LithGold.
Western Australia represents the most effective jurisdictions for lithium exploration. The state provides a secure funding atmosphere supported by a clear regulatory system, entry to export markets, and minimal limitations to worldwide commerce. Archean cratons within the area are essentially the most potential and signify a few of the world’s largest lithium-bearing pegmatite deposits. The corporate’s Abbotts North Mission is within the Archean cratons making it a sought-after lithium asset.
In line with the Office of the Chief Economist throughout the Division of Trade, Science and Assets, Western Australia is projected to own round 10 p.c of the worldwide lithium hydroxide refining capability by 2024. That projection is predicted to additional improve to over 20 p.c of the worldwide lithium refining capability by 2028.
Lithium as a mineral is in nice focus, given its utility in batteries for electrical automobiles. It represents essentially the most in-demand steel required for the vitality transition. The worldwide shift away from fossil fuels is ongoing, which ought to gas demand for lithium within the subsequent decade. In line with a report by the Worldwide Power Company, international battery and minerals provide chains should develop by 10 instances to satisfy the demand in 2030. This could profit lithium which stays a key battery ingredient.
Projections by mining big Albemarle counsel that lithium demand will attain 3.7 million tons by 2030 pushed by favorable authorities insurance policies in lots of nations geared toward phasing out new inner combustion engine automotive gross sales. As the worldwide demand for lithium continues to develop, Premier1’s exploration and growth initiatives are well-timed, offering traders with a possibility to take part within the swiftly rising lithium market.
Firm Highlights
- Premier1 Lithium is targeted on lithium exploration in Western Australia, the most effective jurisdictions on the earth for laborious rock lithium.
- The corporate was shaped following the restructuring of SensOre Restricted. SensOre demerged its non-core software program and AI expertise enterprise, and the remaining firm was rebranded as Premier1 Lithium to deal with the lithium enterprise.
- The corporate holds a pipeline of promising lithium initiatives led by its wholly owned flagship mission, Abbotts North, and three three way partnership initiatives – Yalgoo and Yalgoo West, Montague and Gecko North.
- The corporate’s lithium prospects are chosen utilizing AI and machine studying. This data-driven strategy permits Premier1 to prioritize useful resource allocation towards essentially the most potential targets.
- Premier1 is on observe to begin a 2,000-meter RC drilling program at Abbotts North in February 2024. All of the environmental and heritage approvals required for the drilling program have been obtained.
- The main focus of the drilling program is on the Buttamiah Prospect throughout the Abbotts North Mission, which is characterised by lithium-bearing pegmatite occurrences and has returned assays as much as 1.25 p.c lithium oxide on the floor.
- Along with Abbotts North, Premier1 has deliberate in depth exploration work at its JV initiatives. This contains pegmatite mapping and sampling, in addition to soil and auger geochemistry to delineate drill targets at Montague and Yalgoo starting the second half of 2024.
- Premier1 Lithium provides traders a gorgeous option to profit from the rising demand for lithium.
Key Tasks
Abbotts North Mission
Abbotts North is the corporate’s One hundred pc-owned flagship lithium mission. This mission is located within the Abbotts Greenstone Belt area, which has not been beforehand explored for lithium. The Buttamiah prospect, the important thing goal space throughout the Abbotts North, has proven confirmed pegmatite occurrences that yield as much as 1.25 p.c lithium oxide on the floor.
A number of parallel lithium-bearing pegmatites have been mapped and sampled on the Buttamiah Prospect. The person pegmatites exhibit a median width starting from 2 meters to three meters and will be adopted alongside a strike size of as much as 350 meters. The primary Buttamiah Prospect extends over a complete space of 1.5 kilometers.
Premier1 is on observe to begin a 2,000-metre RC drilling program in February 2024, designed to check the depth and extent of the mineralized pegmatite discipline on the Buttamiah Prospect. All of the environmental and heritage approvals required for the drilling program have been obtained.
A number of further precedence targets have been recognized on the Abbotts North Mission following the completion of the preliminary section of discipline mapping, rock chip sampling and soil geochemistry in December 2023. The soil survey outcomes unveiled areas of curiosity with a geochemical construction just like these noticed over the first Buttamiah Prospect. Subsequent fieldwork will likely be undertaken to judge these newly recognized precedence targets and plan for extra heritage clearance surveys.
Yalgoo and Yalgoo West Mission
Yalgoo and Yalgoo West are key initiatives within the firm’s lithium portfolio. AI and machine studying have been used to determine these initiatives as having vital potential for lithium. These property are a part of the Greenstone Belt area, which is underexplored. The greenstone belt is characterised by a number of phases of granitic intrusions, together with recognized LCT pegmatites.
Premier1 can earn as much as 70 p.c of the lithium rights for the Yalgoo mission from Enterprise Minerals and 80 p.c of mineral rights (besides uncommon earth parts) from Firetail Assets for the Yalgoo West mission.
The land entry approvals are in place and the corporate is planning in depth fieldwork, together with pegmatite sampling, soil and auger geochemistry, to determine targets for preliminary drilling starting H2 2024.
Montague Mission
Montague mission, positioned throughout the Greenstone Belt, is a three way partnership between Premier1 and Gateway Mining. Premier1 can earn as much as 80 p.c curiosity within the JV by assembly sure expenditure standards. Premier1 has chosen tenements throughout the Montague mission for lithium, utilizing AI and machine studying.
The mission includes historic mining leases and is located in proximity to geological formations that point out the presence of lithium-bearing pegmatites.
Land entry approvals are in place for the mission and the subsequent steps embody pegmatite mapping and sampling, and soil geochemistry, which will likely be adopted by drilling in H2 2024.
Gecko North Mission
Gecko North mission is a three way partnership between Premier1 and LithGold Minerals. The corporate used AI and machine studying to generate lithium targets at Gecko North. Premier1 can earn as much as 80 p.c curiosity on this JV mission. This contains incomes 51 p.c curiosity by spending $2.5 million over 4 years, and an extra 29 p.c curiosity by finishing a bankable feasibility research.
Land entry approvals for this mission are in place and the subsequent steps embody extending soil geochemistry and shallow drilling to check soil anomaly in H1 of 2024.
Administration Workforce
Richard Taylor – Govt Director and CEO
Richard Taylor is a professional lawyer and holds an MBA from Cambridge College and a grasp’s diploma in regulation from ANU. He has greater than 15 years of expertise and has held a number of senior management roles within the useful resource sector. Beforehand, he has labored with Terramin Australia, Mineral Deposits, PanAust, MMG, and Oxiana. His expertise spans varied domains together with technique, enterprise growth and governance.
Jason Froud – Managing Director
Jason Froud is a geologist with over 25 years of expertise within the sources sector working for main mining firms together with Newcrest and WMC in addition to international consultancies with expertise throughout the mining cycle and quite a few commodities. He was just lately liable for enterprise growth at Liontown Assets together with the era of recent lithium and battery metals initiatives of Tier 1 potential together with the execution of varied farms-ins and joint ventures throughout Australia. Along with his big selection of expertise together with business and stakeholder engagement, Jason is ideally suited to drive PLC’s development and success into the long run.
Anja Ehser – Non-Govt Director
Anja Ehser is a geologist with over 15 years of expertise within the mineral exploration sector in Europe, and Canada, specializing in base, valuable and battery metals. She has held a number of senior management roles throughout the Deutsche Rohstoff Group and its subsidiaries.
Hugh Thomas – Non-executive Chairman
Hugh Thomas is an skilled public market director and former funding banker with over 30 years specialisation within the mining and exploration sectors notably throughout the Asia Pacific and African areas. Thomas’ previoulsy served on the boards of varied listed exploration firms and corporately as managing director and head of pure sources Asia Pacific for J.P Morgan and Morgan Stanley. Presently, Thomas serves as chairman of Worldwide Base Metals Restricted and non-executive director of NT Minerals Restricted.
Paul Smith – Exploration Supervisor
Paul Smith has 13 years’ expertise within the exploration of valuable, base and demanding minerals all through Australia and Central Asia. He was just lately main the invention, exploration and drill out on the Andover lithium mission by Azure Minerals that has been acquired by joint bidders Sociedad Química y Minera de Chile S.A. (SQM) and Hancock Prospecting for $1.7 billion. Previous to working with Azure Minerals, Smith was senior geologist at Iluka Assets liable for mission era and analysis in addition to mission administration.