The Jadar Resources company drilled two maiden holes for a total of 1238.1 metres at the Rekovac lithium and borate project in Serbia and had made some promising results. This Australian company has discovered lithium and boron deposits on the territory of the Rekovac municipality, not far from Jagodina, which resemble those that the mining conglomerate Rio Tinto recently discovered near Loznica.
In two exploratory borings at the distance of around 1.8 kilometres, the mining company detected indicators that show a considerable concentration of boron and lithium – elements indispensable in the production of batteries and electric vehicles.
The company, which has three licenses for explorations in the Rekovac area, although satisfied with the initial results, points out that this is only the beginning, but also that the initial results are promising and indicative of enormous mineral deposits of boron and lithium ores. The company also has five concessions for gold explorations in Peru, where they have discovered substantial reserves of precious metals, but also in Austria, where they’ve discovered a site with 11 million tonnes of the lithium ore.
The Australian company notes that the results from Rekovac are very similar to Rio Tinto’s near Loznica. Rio Tinto should begin the exploitation in 2024, and the Loznica site contains 10% of the global reserves of lithium.
To remind, the Canadian company Erin Ventures has initiated the preparation of a study of ore reserves, which is the first step toward getting an exploitation permit.
In the Piskanja region, near the abandoned coal mines close to Baljevac on the Ibar River, they have detected reserves of boron and lithium, a site worth around USD 2 billion, with an exploitation period of two decades.