Dakota Minerals (ASX:DKO) has released its September quarterly report, which was dominated by the maiden resource and subsequent sale of the Lynas Find lithium project in the Pilbara for $8 million as well as progress on the Company’s European strategy through the Sepeda and Lusidakota Projects in Portugal.
Dakota Minerals (ASX: DKO) (‘the Company”) is pleased to provide the following summary of activities conducted in the September 2016 quarter.
HIGHLIGHTS
The Company progressed its strategy to become a globally significant lithium Company through:
- identifying high-grade drill targets at the Sepeda project in northern Portugal1 ;
- initiating drilling2 and metallurgical testwork at the Sepeda project; and
- delivering positive metallurgical testwork3 and high-grade drilling results enabling a maiden resource for the Lynas Find project in WA.
Dakota’s long-term strategy is to be a sustainable supplier of lithium carbonate and lithium hydroxide to the globally significant European market. Europe has been identified as the likely first mover in widespread electric vehicle penetration and home energy storage using lithium-ion batteries. European industrial groups are already producing an affordable home energy storage unit and leading automotive manufacturers in the region continue to commit significant investment towards new all-electric vehicle models.
During the Quarter, Dakota continued to accelerate its European strategy by accelerating progress on its Sepeda project in northern Portugal, whilst delivering a maiden resource for Lynas Find. Major achievements during the Quarter included the identification of high-grade drilling targets at Dakota’s Sepeda project; initiation of the maiden drilling programme and metallurgical testwork at Sepeda; delivery of highly positive drilling and metallurgical testwork results and commencement of defining a maiden resource at the Lynas Find project in Western Australia.
