ASX lithium stocks have delivered stellar results this week!

Nick Sundich Nick Sundich, September 30, 2022

Lithium has been the best space to be in on the ASX this week. Although the markets are dour, there has been no shortage of ASX lithium explorers with good news this week and Winsome Resources (ASX:WR1) was the latest one this morning. 

 

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ASX lithium explorer Winsome Resources living up to its name

Winsome Resources (ASX:WR1) is an ASX lithium explorer with its Adina project in Quebec. This morning it announced high-grade assay results from Adina with results of up to 4.89% lithium.

These results were only from a rock-chip sampling campaign rather than a comprehensive drilling campaign. Rock-chip sampling involves analysis of rock chip samples from outcropping or exposed bedrock as opposed to drilling deep into the ground. But with a drilling campaign set to get underway soon, investors have every right to be confident about the future. 

 

Winsome Resources (ASX:WR1) share price chart (Graph: TradingView)

 

Other ASX lithium stocks with news this week

The biggest news in the ASX lithium sector this week came from QX Resources (ASX:QXR), which welcomed former Lake Resources (ASX:LKE) boss Steve Promnitz as its managing director. Promnitz took LKE from a small cap explorer in 2016 to an ASX 200 company that needs only to secure financing before starting mining.

Also, Greenwing Resources (ASX:GW1) announced a $12m investment deal with NYSE-listed EV company NIO that would see it obtain a 12.16% stake

Other ASX lithium companies had positive exploration news this week. One was Balkan Mining and Minerals (ASX:BMM), which returned drilling results of up to 6.8% lithium from its own Canadian project, Thunder May, which lies in Ontario.

Another was Metalsgrove Mining (ASX:MGA), which told investors it had identified ‘significant lithium pegmatite potential’ at its Upper Coondina project in the Pilbara. And rounding out the list was Ragusa Minerals (ASX:RAS), which is starting maiden drilling at its NT lithium project next week. 

So, overall this week, lithium was the place to be!

 

 

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