Distrito Federal, Brazil Jul 12, 2022 (Issuewire.com) - The potential of the Kess Energy flagship Soledade project, relatively untouched and spanning 125km2 of ground in the northern Brazilian state of Ceara, is enough to excite even the wiliest lithium exploration veterans.
"We've got a lot of pegmatites outcropping on our project, and we know the mineralisation is there. We've got high-grade lithium sampling results already, combined with tin, niobium, and tantalum. And what excites me is that there is no record of them ever being drill tested yet. As a geologist, you look at this project and you've got all of this surface mineralisation that has never been explored in depth. said Jack Donnell Operations Director at Kess Energy
Early mapping in the follow-up of previous, wide-spaced work is scheduled to begin at Soledade imminently, with a view to guiding the first drill holes ever carried out at the project.
It's little wonder the Kess Energy IPO is in such demand, aiming to close heavily oversubscribed and estimated to raise around US$25 million, with a significant foundation investment from Tesla chemical supplier Ya Hua International.
State of action
Ceara may be home to artisanal mines, but the government in the northern state of Brazil has recently demonstrated a strong commitment to getting the industry up and running on a broader scale. The mining conversation in Brazil has generally centred on the states in the south. That rhetoric is beginning to change, as Ceara recognises the potential of the industry largely untapped.
The capital of Fortaleza - home to around 2.6 million people - is home to a major port recently expanded on the back of +$200 million worth of state government investment. Kess Energy market analysts said these factors demonstrated support for the development of a larger-scale minerals sector than had ever been seen in Ceara before.
"The government is showing a lot of support for lithium right now because lithium is no longer a niche industry. It used to be a niche, in the shadows a little bit. But now, major companies are looking at lithium in Brazil - the times are changing." said George Hyota a Financial Analyst at Wellington Asset Management (a partner underwriter in the IPO for Kess Energy).
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