Hannans Reward Ltd. (ASX:HNR) announced that it’s lodged seven applications for exploration permits at a historic lithium mine and tenure prospective for pegmatite-hosted lithium mineralization. Both are located in Northern Sweden.
As quoted in the press release:
By way of background to these applications, Hannans announced in July 2015¹ that it had commenced a review of lithium, cobalt and graphite, (Technology Metals) opportunities in Scandinavia encouraged by the fact that lithium mining had previously taken place in Sweden2 and further that the most advanced lithium project in Europe is located in Finland3 .
A high level review indicates that Sweden (and Scandinavia more generally) is optimally positioned to benefit from the surge in demand for Technology Metals due to: Sweden’s proximity to the European market for high technology devices; Sweden’s universities conducting world leading research and development into Li-Ion (lithium-ion) battery technology; the designation of lithium (within a broad group) as a critical metal by the European Union; and an abundant supply of fresh water and low power costs (hydro and wind) for processing hard rock lithium bearing minerals cost effectively.
Hannans first exploration permit application covers Sweden’s most well-known lithium occurrence, the Varuträsk pegmatite located near Skellefteå, Västerbotten, Sweden. Lithium was mined at Varuträsk by Boliden4 during the period 1936-46 through open cut and underground mining and is known to host lithium and cesium minerals, and also has occurrences of niobium minerals.
Click here to read the full Hannans Reward Ltd. (ASX:HNR) press release.
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