Rekovac Lithium-Borate Project
Serbia (100%)
The project area is located in central Serbia near the cities of Jagodina and Kragujevac and 110 km away from Belgrade the capital of Serbia. The project has easy access to the E75 European motorway and modernised rail corridor 10 and thus well connected to Central and Western Europe.The Project is comprised of three separate licence (Rekovac, Ursule and Sikovac) with an aggregate land area of 273km2 and is located within the Vardar Zone an emerging Tier 1 lithium and borate jurisdiction. The Rekovac project exhibits a very similar geological setting to the number of lithium – boron deposits along Vardar zone including Jadar Basin, which is host to Rio Tinto’s world-class Jadarite discovery – one of the world’s largest lithium deposits.
Geology
The Rekovac exploration license covers Neogene age basins containing continental sediments mapped as early and middle Miocene. The basin is elongated in shape and roughly limited by two deep-seated parallel faults forming a NE-SW trending shallow sag-basin, gradually filled with lower Miocene aged lacustrine and middle Miocene marine sediments.
The basement rocks consist of ophiolites, older metasedimentary sequences and cretaceous flysch sediments. The early Miocene boratiferous strata concordantly overly basement formation and have good surface exposures in the southern and central part of the project area.
A dominated sedimentary section comprised of mostly laminated to poorly bedded dolomitic claystone, siltstone, marlstone accompanied by ash-fall tuffs and tuffaceous sandstones. Fine pelitic sediments are frequently associated with dolomite and analcime.
Drilling indicates several broad zones of borate-bearing sediments, an upper zone characterised by irregular crystalline aggregates, patches and veinlets of searlesite and a lower zone by disseminated searlesite grains. The early Miocene formation extends to the north as well asto the south where it’s hidden under younger marine fossiliferous sediments composed of siltstone, sandstone, and coarse clastic sequences. The Eastern portion of the license area is over clastic formations composed of conglomerates and debris flow.
The Rekovac project is located within the Vardar Zone which represents the suture from the subducted closure of the Tethys Sea. A series of inter-mountaine basins were formed in Miocene time that in the early stages of basin formation were marked by lacustrine sedimentation including tuffs from fractionated contemporaneous calc-alkaline volcanic rocks.
Growth faults are believed to have channelled mineral rich brines to the host strata during basin formation. Cyclic variation of paleo climate from very hot and humid to long-lasting arid conditions further enhanced evaporitic conditions within the region. The borate +/- lithium target occurs as laterally extensive (3-5km2) strata bound mineralisation formed as a result of diagenetic processes in Miocene Age evaporate sequences in buried salt lakes. The host rocks are typically pelitic, tuffaceous and dolomitic and have a strong analcime component reflecting the breakdown of volcanic glass. The Vardar zone having roughly 75 percent of global boron and 10 percent of lithium resources.
