Widgiemooltha – Lithium

Emerging as new lithium belt The Widgiemooltha project is located well inside the lithium “goldilocks zone.” 

Project overview

  • Mt Marion, Bald Hill and Buldania projects all lie within 25km of Dynamic tenure
  • Directly adjacent to Develop Group’s (ASX: DVP) Dome North lithium project and Sinclair LCT mine
  • In March 2024, Dynamic entered into a binding joint venture and farm-in agreement with a 100% owned subsidiary of Mineral Resources Limited (ASX: MIN) (MinRes), whereby Dynamic will sell 40% of its lithium rights on the Widgiemooltha Project for a purchase price of $5m (subject to conditions):
    • MinRes can sole fund $15M of expenditure over 4 years to increase its stake in the JV to 65% (“Stage 2”)
    • At the completion of Stage 2, MinRes may elect to increase its stake in the JV to 80% by sole funding expenditure through to a Decision to Mine (“Stage 3”)
    • At the completion of Stage 3, Dynamic may contribute pro rata its proportion of JV costs going forward, or convert its interest into a royalty
    • Dynamic retains rights to all minerals other than lithium over the Project and maintains access to all areas of the Project

Previous exploration

  • Recent exploration success include Widgie Nickel Faraday spodumene discovery
    • 600m x 25m wide outcropping pegmatite with high grade rock chip samples of 3.7%, 3.6%, 3.1%, 2.9% Li20
  • Virtually unexplored for lithium by previous holders so clean slate for exploration
  • 600m strike of anomalous lithium in bottom of hole air core drilling (targeting gold) peaked at 853ppm lithium with associated Be, Sn, Ta and Cs (Franks Find)

Lithium exploration focused at Pioneer Dome West prospect

  • Tenement granted May 2023 with limited historical geochemical information on lithium
  • Staged approach to lithium exploration reflects early stage of development
  • Soil sampling completed by Dynamic in August 2023 identified 2.8km lithium anomaly
  • Follow up auger sampling highlights new target PDWS01 with 182ppm Li, 328ppm Rb, 70ppm Cs
  • Further auger to refine targets planned in early 2024
  • Assess results and test with drilling

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