Australia's Essential Metals jumps on high-grade lithium hit at WA project

Essential Metals

07/06/2022 01:46

** Shares of lithium and gold explorer Essential Metals
 ESS.AX  climb as much as 9.4% to A$0.525; set to mark their
best day since May 30, if gains hold
    ** Co reports high-grade, near-surface lithium from Cade and
Davy deposits at its Pioneer Dome project in Western Australia
 urn:newsml:reuters.com:*:nASM000EJ1
    ** Says co undertook a diamond drilling program over March
quarter aimed to increase its confidence in the lithium mineral
resource estimate at the Dome North area
    ** Says Cade deposit returned assays of up to 1.26% lithium
oxide from 3.6 metres, while the Davy deposit returned 31.95
metres at 1.24% lithium oxide
    ** Stock had more than doubled in value YTD, as of last
close  


 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))