OzAurum Resources: A lithium play that has every early stage indicator – guess where?
OzAurum Resources CEO Andrew Pumphrey on 3AW, 2GB & 6PR Bulls N' Bears Report
Listen to ASX-listed OzAurum Resources CEO Andrew Pumphrey talk to Matt Birney on the Bulls N’ Bears Report about OzAurum’s brand new lithium project in one of the world’s hottest new lithium jurisdictions that saw its share price shoot skywards by almost 300 per cent.
TO LISTEN TO THE OZAURUM RESOURCES AUDIO INTERVIEW - CLICK BELOW
OzAurum Resources has two gold exploration projects north of Kalgoorlie and recently added what looks to be a solid lithium project in Brazil’s revered lithium valley to its project suite. Its new Linopolis Jaime project ticks a lot of early boxes with plenty of pegmatites, an old underground mine that contains some really big coarse spodumene crystals and rock chips with grades that would make a Pilbara lithium miner blush.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears brought to you today by OzAurum Resources
Matt Birney - ASX code: OZM
Matt Birney - I'm Matt Birney and I'm joined now by the CEO of OzAurum Resources, Andrew Pumphrey.
Matt Birney - Hi Andrew
Andrew Pumphrey - G'day Matt
Matt Birney - Okay so OzAurum Resources has two gold exploration projects north of Kalgoorlie and recently added what looks to be a solid lithium project in Brazil's revered Lithium Valley to its project suite.
Andrew Pumphrey - Its new Linopolis Jaime project ticks a lot of early boxes with plenty of pegmatites, an old underground mine that contains some really big coarse spodumene crystals and rock chips with solid lithium hits in spodumene crystals.
Matt Birney - Okay Andrew, I see OzAurum's share price put on about 300 per cent when you announced this new project. Where is it exactly and what's the history of that old underground mine there?
Andrew Pumphrey - Yeah look our new project is sort of in the central part of Brazil and the Minas Gerais province and look really exciting opportunity and we're absolutely wrapped to be able to find such a good project in Brazil.
Matt Birney - Well tell me about this underground mine, I guess it's mined out is that right?
Andrew Pumphrey - No no look the mine, this pegmatite was mined previously for tourmaline, beryl and micas so it's what we call an LCT pegmatite so really exciting lithium-bearing pegmatite.
Matt Birney - So tell me a bit more about the pegmatite field at surface at this project. How many are outcropping and roughly what sort of distance do they cover?
Andrew Pumphrey - Oh look there's probably at least 20 pegmatites that are outcropping there and look they extend up to about 500m in length and they're the LCT pegmatite, so that's the one that contains the lithium and that's why we're so excited about this.
Matt Birney - Now I understand you can also access that old underground mine, can you see pegmatite down there as well or is it just at surface?
Andrew Pumphrey - Oh look absolutely, it's actually in the side of a hill so you just walk into an adit and you're straight into the pegmatite and you walk in about 50m and you can actually see the spodumene in the crosscut there.
Matt Birney - Have you sampled it?
Andrew Pumphrey - Yes we have, yeah we've had some really exciting grades up to 7.36 per cent and an average of 6.9 of the spodumene only, so I've just got to make that clear for everyone.
Matt Birney - Yeah those spodumene crystals, just looking at your market material, look unusually large to me. How big are they?
Andrew Pumphrey - Oh look it's really exciting Matt, these crystals are up to a meter long and look you only see that in a couple of deposits in Western Australia, they are quite rare so we see it at Greenbushes and we see it at Mt Marion lithium which are operating mines right now.
Matt Birney - Are there any other big players in the area? I guess Brazil is a real lithium hotspot at the moment right?
Andrew Pumphrey - Oh yeah absolutely mate, look we've got Sigma Lithium, that's a big Canadian company, they're up to our north about 200km away.
Andrew Pumphrey - And we got a Brazilian company CBL, they're actually operating an underground lithium mine and we've got an Australian company Latin Resources up in the same area so it's a real hot spot for lithium right now.
Matt Birney - Andrew Pumphrey from OzAurum Resources
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears
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