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OzAurum Resources (ASX:OZM) has commenced diamond drilling at its Boca Rica Lithium Project in Brazil, where CEO and Managing Director Andrew Pumphrey has a spring in the step after heavy rainfall disruptions earlier in the year.
“We are excited to commence diamond drilling at the Boca Rica Lithium Project in Brazil. This project offers us scale to make a significant lithium discovery with the current tenure area of 3,871 hectares,” Oz Aurum boss Andrew Pumphrey said.
“Additionally, we are still actively negotiating on additional advanced lithium acquisition opportunities. We are very excited about the Brazil lithium, niobium + REE opportunities and look forward to exploring and providing updates to shareholders.”
The company primarily focuses on gold exploration in Western Australia and lithium, niobium, and REE exploration in Brazil.
Recent advanced lithium opportunities in the State of Minas Gerais have marked progress for the company, as it pushes to become a key player in Brazil’s lithium sector.
Boca Rica Lithium Project
The Boca Rica Project emerged after extensive evaluations of over 100 lithium projects across Minas Gerais State. Covering 3,871 hectares. It includes known Lithium-Caesium-Tantalum (LCT) pegmatite swarms, extending up to 1.7 kilometers along strike.
Despite significant weathering, results were still obtained from two rock-chip samples from a shallow underground adit, with LiO2 (Lithium Oxide) of 1.16% and 0.13%.
Also spodumene crystals, of up to 1 meter in length and comprising of 20% of the zone, have been observed.
Brazil Lithium Exploration
Severe storms and rainfall in January, described as the region’s worst in 50 years, disrupted field activities in the Governador Valadares region, delaying activities throughout January and February.
However, recent improvements in weather conditions have allowed the company to resume its exploration program. Negotiations are ongoing for the acquisition of additional advanced lithium opportunities in Brazil.
OZM shares are up, last traded at 4.4 cents.
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