All tagged Dakota Minerals ASX:DKO

Dakota Minerals - Completion of Lynas Find Sale Transaction

Dakota Minerals (ASX:DKO) has completed the sales agreement on Lynas Find in WA's Pilbara, putting the Company in a very strong financial position to aggressively advance its strategy of becoming a sustainable lithium carbonate/hydroxide supplier to the European battery industry. The total consideration for the transaction with Pilbara Minerals was up to $8M of which $5M has been paid at completion. Pilbara will make further payments of up to $3M in total upon the grant of remaining exploration licences.

Dakota Minerals - EIA and Scoping Study Commenced, SepedaLithium Project Portugal

Dakota Minerals is targeting mid-2019 for the development of its Sepeda Lithium Project in Portugal, partnering with consultancy Hatch to start a Scoping Study. MD David Frances said the partnership with Hatch, a proven designer and builder of downstream lithium plants, would stand Dakota in good stead to achieve its goals with Sepeda. He said Dakota was embarking on a rapid development timeline to position the Company as a key domestic supplier to the fast-growing European lithium market.

Dakota Minerals - Project Update; Sepeda Lithium Project, Portugal

Dakota Minerals' phase two drilling continues to unfold at Sepeda, with the Company reporting highly encouraging intitial results from the field. Managing Director David Frances said the Romano pegmatite, within the Sepeda lithium project, was the Company's initial resource target and continued to yield spectacularly thick pegmatite intersections. Dakota is targeting a maiden resource in Q1 of CY 2017, while it is also expecting results from metallurgical test-work in April next year.

Dakota Minerals - Major EU Lithium Discovery Confirmed; Sepeda Project Portuga

Dakota Minerals' latest results from the Sepeda lithium project in Portugal, including 74m @ 1.54% Li2O, represents the next positive step in delivering its European strategy. MD David Frances said the discovery of a significant hard-rock lithium deposit on the doorstep of Europe's rapidly evolving battery market was testament to the foresight and work of the team. He said Dakota would now fast-track development of Sepeda and work to transition from successful explorer to downstream producer.

Dakota Minerals: Lynas Find - $8 million Sale Transaction

Pilbara Minerals has agreed to buy 100% of Dakota Mineral's Lynas Find lithium project in WA's Pilbara. The total consideration for the transaction is up to $8 million, with a $4 million cash payment on completion of the sale and the remainder payable subject to the extension/grant of the relevant tenements identified in the sale over a period of up to 12 months as either cash or Pilbara shares. The proceeds will allow Dakota to accelerate the company’s European‐focused lithium strategy.

 

Dakota Minerals - Encouraging Drill Results, Sepeda Lithium Project, Portugal

Dakota Minerals has been encouraged by initial drill results from its Sepeda lithium project in Portugal. The first two drill holes in the 18-hole, 2,090m program intersected thick, mineralised pegmatites of up to 56m down hole width, with intercepts including 40m @ 1.11% Li2O and 16m @ 1.39% Li2O. As a result, MD David Frances said the company would accelerate activities in Portugal towards delivery of a maiden resource, with phase two resource drilling brought forward to November.

Dakota Minerals - Lynas Find - $8 million Sale Transaction

Pilbara Minerals has agreed to buy 100% of Dakota Mineral's Lynas Find lithium project in WA's Pilbara. The total consideration for the transaction is up to $8 million, with a $4 million cash payment on completion of the sale and the remainder payable subject to the extension/grant of the relevant tenements identified in the sale over a period of up to 12 months as either cash or Pilbara shares. The proceeds will allow Dakota to accelerate the company’s European‐focused lithium strategy.

Dakota Minerals - Maiden Mineral Resource- Lynas Find

Dakota Minerals has announed a Maiden Mineral Resource estimation at its Lynas Find lithium project in WA. The Total Indicated and Inferred Mineral Resource was calculated at 7.3Mt @ 1.25% Li2O, 85ppm Ta2O5 and 0.99% Fe2O3 for all pegmatites, with the Lynas Find main pegmatite returning an Indicated and Inferred Mineral Resource of 6.0Mt @ 1.33% Li2O, 85ppm Ta2O5 and 0.72% Fe2O3. The company is evaluating avenues to achieve the greatest shareholder return possible from this high grade resource.