- Dominion Minerals (DLM) has made a strategic investment in Luna Lithium
- Luna is a private Canadian company focused on exploring the Pilot Peak Lithium Brine Project in Nevada
- The company expects to begin a drilling program this quarter
- Dominion is investing $C350,000 for an approximately 5 per cent stake in Luna Lithium
- Dominion was trading flat at 87 cents a share at 10.25am AEDT
Dominion Minerals (DLM) has made a strategic investment in private Canadian company Luna Lithium which is focused on exploring the Pilot Peak Lithium Brine Project in Nevada.
Luna Lithium recently completed early-stage exploration work on a land package of about 8900 hectares. The work includes geophysical and seismic surveys.
The company expects to begin a drilling program this quarter.
Dominion is investing $C350,000 ($A380,000) for an approximately 5 per cent stake in Luna Lithium. The move gives provides the company exposure to the upside associated with potential success at the Pilot Peak project in the chase for the critical mineral associated with the rapid uptake of electric vehicles and battery storage.
The Pilot Peak project is close to major lithium brine operations and development projects, including Albemarle’s Silver Peak operation and Ioneer’s Rhyolite Ridge project.
Dominion Minerals also expects to release a Mineral Resource Estimate (MRE) for the company’s Georgia Lime Project early this year. It will begin technical studies shortly after that.
The Georgia Lime Project remains the company’s top priority and is made up of approximately 145ha of private and surface mineral rights in Early County, Georgia. The project has the potential to host a large, high calcium limestone deposit.
In September 2021, Dominion acquired 100 per cent of PowerLime, which controls the Georgia Lime Project.
Dominion Minerals shares were trading unchanged at 87 cents at 10.25am AEDT.