- Lithium energy is gaining praise as a rationally-viable clean energy alternative
- ASX listed Pioneer Resources is the latest in the lithium pack, announcing quality results from its wholly-owned W.A. Pioneer Dome project
- Drilling earlier this month revealed 21 lithium pegmatite targets beneath the company’s feet
- This morning the company announced first results, with eight returns chalking up to highs of 1.63 per cent lithium
Lithium energy is gaining its fair share of highlights in the media, poised as a viable selection in cleaner energy.
In fact, lithium as a resource is already steadily used in the economy powering electric cars and rechargeable lithium-ion batteries.
Amid times of climate-change anxiety and heated UN addresses on carbon emissions, how does lithium size up to competing energies?
A lot of green friendly citizens around the globe are hammering for a renewable energy future by 2030. While this may seem like a pipe dream, expectations for 2050 are comparatively more viable.
Phasing out coal mines and switching everything to solar and wind farms is a drastic change, but lithium represents a more rational choice.
Last month, Japan actually cut the ribbon at its first ever lithium purification plant with ASX company Orocobre.
Even more recently, ASX company Argosy Minerals inked a 2000 tonne per annum lithium deal with automotive giant Mitsubishi.
Lithium is shining above competitors in clean energy, as its more reliable than wind and solar energy which could leave economies hanging when waiting for the sun to shine or wind direction to change.
Lithium energy is also comparatively lighter, making storage solutions relatively easy.
There remains concerns of infrastructure, however.
Replacing diesel and petrol cars with lithium alternatives would reduce emissions. But Solent University Science and Engineering researcher Parakram Pyakurel says such a widespread move could deplete lithium resources in five decades.
Although, it doesn’t stop ASX big hitters from wanting a piece of the pie. Conglomerate Wesfarmers splashed $776 million to buy lithium explorer Kidman Resources earlier this week.
Pioneer Resources, an ASX company with a much smaller market cap of $31.68 million, is the latest to break out lithium news.
This morning the company announced drilling results of the clean energy resource reaching up to grades of 1.63 per cent at only 33 metres deep.
The results comes from the company’s wholly-owned Pioneer Dome project in Western Australia, 130 kilometres south of mining town Kalgoorlie.
Other healthy lithium results pulled out of the company’s hat include 1.61 per cent, 1.60 per cent and 1.47 per cent.
Drilling at the project began earlier this month on September 16, with the company explaining it is in a well-funded position to carry out the campaign.
Today’s results came from two confirmed pegmatites at Pioneer Dome. 29 holes drilled earlier in September showed 21 targets, with more results to come by the end of this month.
Share prices in Pioneer Resources are unchanged on the ASX today, stagnant at 2.1 cents apiece.