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EG1 - Evergreen Lithium

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Evergreen Lithium Limited has compiled a portfolio of strategic tenure, highly prospective for lithium mineralisation within the Northern Territory and Western Australia. Their flagship project is the Bynoe Lithium Project, which is located adjacent to Core Lithium (ASX:CXO) and its producing lithium mine, the Finniss Project.

The Bynoe Lithium Project comprises of one granted exploration tenement covering an area of 230.96km2 (EL31774) and is located in the Northern Territory, south of the Darwin Port. The Bynoe Lithium Project is located adjacent to Core Lithium Limited’s (ASX:CXO) Finniss Project, Australia’s next active lithium mine. EL31774 was granted on 15 February 2019 and covers the north eastern strike extension of the highly lithium endowed Bynoe Pegmatite Field.

The Fortune Lithium Project comprises of one application for an exploration tenement covering an area of 784.71km2 (EL31828) and is located in the Mount Peake/Sandover region of the Northern Territory. The Fortune Lithium Project is in the proximity of other granted tenure held by Core Lithium Limited, Lithium Plus Minerals Ltd, Australasian Metals Ltd, Askari Metals Limited and Eastern Metals Limited. The tenement remains pending subject to processing under the Aboriginal Land Rights Act (Northern Territory) 1976 (Cth).

The Kenny Lithium Project comprises of one exploration tenement covering an area of 210km2 (E63/1888) and is located in the Dundas Mineral Field of Western Australia, 15km to the east of Liontown Resources Limited’s Buldania Lithium Project and 35km South of the Alita/Bald Hill Lithium Mine. Initial field mapping of the Kenny Project has confirmed the presence of substantial outcropping of lithium pegmatites.

It is anticipated that EG1 will list on the ASX during March 2023.

 
Listing date10 March 2023 #
Company contact detailshttps://evergreenlithium.com.au/
Ph: 1300 288 664
Principal ActivitiesMining exploration
Industry groupTBA
Issue PriceAUD 0.25
Issue TypeOrdinary Fully Paid Shares
Security codeEG1
Capital to be Raised$7,000,000
Expected offer close date13 February 2023
UnderwriterNot underwritten. Taylor Collison Limited (Lead Manager)
 
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Hmm, why not participate in these things? It seems like it's a no brainer when. you see this.

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Good morning,
Captured this morning. Nice gain at the minute. Good numbers happening for fast trading.
Kindly conduct your own due diligence and have a very nice day today ???

Regards
rcw1
 
Leases next to Liontown probably mean there's a bit of upside, if a deep pocketed acquirer comes along.
 
Hmm, why not participate in these things? It seems like it's a no brainer when. you see this...
Now 38c.... sliding sideways

cash position at end Q1 was about $10 million
... and about to hit the promotional circuit.


Lithium Pegmatite Targets Identified at Kenny Project

Highlights

• Geochemical anomalies indicate the potential for Lithium Caesium Tantalum pegmatites at Kenny, evidenced by the presence of significant and widespread lithium.
• 5 priority lithium target zones have been identified with Li2O assay results showing maximum values up to 250 ppm Li2O.
• Lithium pathfinders of interest included maximum values of:
3.54ppm Be, 46.2ppm Cs, 5.17% K, 159.00ppm La, 427ppm Rb, & 11.9ppm Ta
• Further geochemical analysis is being undertaken to assess prospectivity for
other critical minerals, including Rare Earth Elements.
 
Will it pop? Now 37c (overlooked for June comp)

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Lithium Pathfinder Discussion
At Bynoe, the exploration target is buried LCT pegmatites, which intrude the Burrell Creek Formation. The rocks here have undergone hundreds of millions of years of weathering, and
hence the pegmatites are not exposed at surface. The surface cover is often lateritic material or black soil plains, with some siliceous ridges. Quartz blows are common on the ridges and
can be a good indicator of structural geology and potential conduits for emplacement of pegmatites.

Soil geochemistry is a very useful exploration method to identify orebodies which are concealed by cover. Lithium is a very mobile element and lithium-bearing pegmatites at
depth can show a geochemical footprint at surface. This geochemical footprint comprises not only lithium but often a suite of other elements, which are referred to as pathfinder
elements and include Be, Cs, Sn, Ta, Rb, La and others.

These geochemical targets are then correlated with geophysical and geological interpretation to define drill hole targets
.
 
Will this be the 1 ?
..

• EverGreen Lithium commenced trading on the ASX under the code ASX:EG1 on 11 April 2023.
• Listing follows successful completion of EverGreen’s Initial Public Offering, resulting in a strong cash balance at listing of approximately $10M.
• Results from exploration work undertaken at Bynoe and Kenny prior to IPO as outlined in the Prospectus are expected in the short term.
• The Northern Territory is home to Australia’s newest producing Lithium Mine Finniss, which is owned and operated by Core Lithium (ASX:CXO) and is contiguous to EverGreen’s Bynoe project located in the Litchfield Pegmatite Province.
• EverGreen intends on deploying its strong cash reserves towards making the next critical mineral discovery, at its Bynoe, Kenny and Fortune projects
.

... lots of (well, 4, for 2 projects) announcements, but not yet spent the dollars

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And SP has settled since initial flurry (natch)
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Maybe this month, or maybe will take a few months to announce meaningful drill results, but Evergreen in my July tip .... 33c now.
 
And my crystal ball says, I'm playing for pride in July comp. ... oh no, wait, that's a fortune cookie !
.
Quarterly not out yet... gulp.
.
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