Christmas Hill Scandium Prospect
GRANTED EXPORATION LICIENCE E70/5317
Located near New Norcia about 80km NE of Perth with substantial extensive Scandium mineralization outcropping at the surface.
This is a very high grade extensive Scandium deposit. Sampling has recovered numerous widespread rock samples assaying between 100g/tonne and 270g/tonne Scandium over many sq kms of ELA 70/5317. This is around 3-5 ounces of Scandium/tonne equivalent in value to gold of around 1-2 ounces/tonne. This is around $1000 -$3000 per tonne , (subject to feasibility for mining and extraction and other factors). There is at least one pit excavated to over 3m depth into the Scandium and other mineralization, at Christmas Hill.
Scandium sells for millions of dollars per tonne. Scandium spiked to around $US20/g recently, compared to Gold now at around $US50/g. Scandium demand is rapidly rising for defence, aircraft, space and evolving new applications. When a little is alloyed with Aluminium it produces tougher material lighter than steel but stonger than aluminium.
It is classed now, by many countries, as a critical rare earth metal that several Governments, including the U.S. and ours, are beginning to offer development incentives
Christmas Hill Lease E70/5317
Numerous high-grade scandium samples covering much of the lease
Drilling planned soon to test Scandium and possible Nickel mineralisation at depth
Some Results from Caspin’s Next Door Yarawindah Lease
0.12m @ 5.97% Ni, 0. 75% Cu, 0.39% Co & 2.66g/t PGE
2.25m @ 1.09% Ni, 0.99% Cu, 0.08% Co & 0.24g/t PGE
0.90m@ 1.44% Ni, 0.76% Cu, 0.11% Co & 0.19g/t PGE
Other spectacular nearby recent results by Challice and Caspin Mining
NOTE: Christmas Hill lease is E70/5317 as shown in above map (yellow star/rectangular area only)
Lithium Lakes does not own surrounding Caspin leases.
Scandium prices have fluctuated in the last decade up to $20 US per gram. Gold in comparison is now around $ 50 US per gram.
Aluminium alloy with less than 1% Scandium can be much stronger and lighter than stainless steel in Sporting, Defence, Space and many rapidly growing areas.
Elon Musk said in March 2020 that SPACEX is switching soon to a new alloy, from their current stainless steel.
NASA and Europe Space Agency are also believed to be considering Scandium alloys.