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Lithium Power International (ASX:LPI) - CEO, Cristobal Garcia-Huidobro - The Market Herald
CEO, Cristobal Garcia
Source: Finance News Network
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  • Lithium Power International (LPI) has commenced its lithium exploration program at its Greenbushes project in southwest WA
  • The company has commenced exploration at drill targets within previously identified arsenic lithium anomalies
  • The exploration program comes after the company announced it will reactivate exploring the area last month
  • On market close, LPI is up 3.33 per cent and is trading at 31 cents per share

Lithium Power International (LPI) has commenced its lithium exploration program at its Greenbushes project in southwest WA.

The company has commenced exploration at drill targets within previously identified arsenic lithium anomalies.

LPI's Greenbushes tenements covers 39,800 hectares north and south of the Greenbushes mine, which is owned by Talison — a private company developed by joint venture partners Albemarle and Tianqi Lithium.

The exploration program comes after the company announced it will reactivate exploration in the area last month.

LPI says the decision to further explore came after the improvement in the current and forecasted lithium demand.

It is unclear when LPI's exploration activities were paused, however, the company's operations in the area were on hold during most of 2020 due to COVID-19 and low lithium prices.

Notably, the Greenbushes mine has been a focus for the company since ASX-lister IGO (IGO) purchased a 25 per cent stake in the area for $1.9 billion.

"Work is progressing well on the field activity to assess the potential of the Balingup Zone," CEO Cristobal Garcia-Huidobro said.

"Our geologists have mapped pegmatites hosted within mafic rocks within the defined arsenic anomaly. The current work should better define the zones of alteration so as to target these lithium enriched parts of the pegmatite," he added.

On market close, LPI is up 3.33 per cent and is trading at 31 cents per share.

LPI by the numbers
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