- Bacanora Lithium said a 50%-owned German subsidiary had been granted an additional exploration licence in the Erzgebirge region of Saxony state.

The Altenberg Licence, covering around 42 square kilometers, had the potential to significantly increase the life of mine at Zinnwald, the company said.

The deposits there had been explored and mined historically for tin, tungsten and lithium.

Historical exploration data indicated additional exploration targets were present that could host lithium, tin and tungsten mineralisation.

Bacanora said the subsidiary, Deutsche Lithium, planned to investigate the deposit over the next five years and to combine its exploration and development with its Zinnwald and Falkenhain licences.

At 1:27pm: [LON:BCN] Bacanora Minerals Ltd Ord Npv di share price was +2.25p at 23.25p

Story provided by