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Concerns are mounting for the safety of United Nations peacekeeping forces in southern Lebanon amid Israel’s ground incursion, UN peacekeeping chief Jean-Pierre Lacroix warned on Thursday, after Israeli fire resulted in the injury of two UN troops.

Briefing the UN Security Council on Thursday, UN Under-Secretary General for Peace Operations Lacroix described hostilities between Israeli forces and Iran-backed militant group Hezbollah in southern Lebanon as “increasingly alarming,” and putting “peacekeepers at serious risk.”

“The safety and security of peacekeepers is now increasingly in jeopardy,” Lacroix said.

The UN Interim Force in Lebanon (UNIFIL) reported early Thursday that the peacekeepers were injured after an Israeli tank fired toward an observation tower at its headquarters in the southern Lebanese city Naqoura.

The Israeli tank fire directly hit the tower, causing the peacekeepers to fall, UNIFIL said, adding that other “nearby positions have been repeatedly hit.”

UNFIL said that “any deliberate attack on peacekeepers is a grave violation of international humanitarian law.”

The Israel Defense Forces (IDF) have accused Hezbollah of operating in areas near UNIFIL posts, and said in a statement that it had asked UNIFIL forces to “remain in protected spaces” during the incident.

“The IDF is operating in southern Lebanon and maintains routine communication with UNIFIL,” the IDF said in a statement after Thursday’s incident.

“This morning (Thursday), IDF troops operated in the area of Naqoura, next to a UNIFIL base. Accordingly, the IDF instructed the UN forces in the area to remain in protected spaces, following which the forces opened fire in the area,” the statement added.

UN deputy spokesperson Farhan Haq said the two peacekeepers – both Indonesian – were hospitalized. Their injuries are not serious, he said.

UN peacekeepers have been stationed in southern Lebanon since 2006, per a mandate by the United Nations Security Council. UN peacekeepers were drawn from armies of several nations to monitor the situation along the roughly 120-kilometer (74-mile) Blue Line which separates the two states.

The incident came as Israel expands its strikes across Lebanon. On Thursday, Israeli strikes on a densely populated Beirut neighborhood killed at least 22 people and wounded 117, the Lebanese health ministry said.

International outcry

The injury of the UN peacekeepers drew condemnation from several countries including Italy, France, and Ireland, who all have contingents in the UN peacekeeping mission in Lebanon.

Italy’s Prime Minister Giorgia Meloni summoned the Israeli ambassador in Rome on Thursday after what she described as “unacceptable” behavior by the Israeli forces.

Meloni’s office said two Italian bases of UNIFIL were “hit by gunfire from the Israeli army” on Thursday and added that the prime minister spoke to the Commander of the Western Sector of the UNIFIL mission, Gen. Stefano Messina, for an update on the safety of the Italian troops.

The Italian leader also contacted Israel’s Defense Minister Yoav Gallant to “firmly remind” him that “what is happening near the Italian UNIFIL bases in southern Lebanon” is “unacceptable,” according to an Italian government statement.

Indonesia’s mission to the UN blasted Israel over what it called “deliberate attacks,” saying Friday that Israel’s actions “represent a blatant attempt to spread terror on the ground to intimidate both the peacekeeping mission and international community.”

France also expressed “deep concern” after the attack, saying it was “awaiting explanations from the Israeli authorities.”

“The protection of peacekeepers is an obligation imposed on all parties to a conflict. France calls on the parties to respect this obligation, and to allow UNIFIL to continue to implement its mandate, including by respecting its freedom of movement,” a spokesperson for the French foreign ministry said.

Irish Foreign Minister Micheál Martin described the IDF’s “targeting & firing on UNIFIL positions” as “reprehensible” and “unacceptable.”

Earlier this week, Irish Prime Minister Simon Harris also expressed concern after Israeli tanks were stationed close to an UN outpost manned by Irish peacekeepers.

The European Union High Representative for Foreign Affairs Josep Borrell condemned what he called an “inadmissible act,” posting to X: “Another line has been dangerously crossed in Lebanon: IDF shelling of UN peacekeepers whose positions are known. We condemn this inadmissible act, for which there is no justification.”

The EU foreign policy chief reiterated his support for UNIFIL and called for full accountability regarding the incident.

This post appeared first on cnn.com

Nobuyo Oyama, the voice of beloved Japanese anime “Doraemon” for a generation of children across Asia, has died at age 90, her agency confirmed on Friday.

Oyama died on September 29 due to old age, according to the Actors 7 agency. It apologized for the delay in its statement, adding: “We would like to express our sincere gratitude for the kindness you extended to the deceased during her lifetime.”

A private funeral attended by relatives was held for Oyama, the agency said.

Oyama was best known for voicing the eponymous character in the “Doraemon” television show, which aired from 1979 through 2005 – just one of three shows in the larger Doraemon franchise, which became globally popular, especially in regional markets like Hong Kong and Vietnam.

The franchise includes dozens of animated films, video games, music albums and manga series.

They follow the adventures of Doraemon, a robotic cat from the 22nd century who arrives in the present day to help a young boy called Nobita “who’s terrible at everything,” according to the franchise’s official website. The friendly-looking blue-and-white character often rescues Nobita by pulling secret gadgets from the future out of the pocket in his stomach.

Oyama was born in Tokyo, according to Japan’s public broadcaster NHK. Before voicing Doraemon, she also played a role in NHK’s puppet show “Boo Foo Woo,” which ran from 1960 to 1967, the broadcaster said.

But it was the animated show that launched her to worldwide fame – so much so that the 1979 show is also known as the “Oyama edition” to distinguish it from other Doraemon adaptations.

The news of Oyama’s death spurred a wave of tributes on social media, with fans from across the world expressing condolences and remembering her as an iconic voice of their childhoods.

“Ms. Nobuyo Ōyama… She was someone who supported me from the very beginning of my career. Thank you so much for all your hard work over the years. I truly appreciate it,” tweeted Kazuhiko Inoue, who voiced fan favorite character Kakashi in the global manga hit “Naruto,” and had parts in other popular series including “JoJo’s Bizarre Adventure” and “Demon Slayer.”

“When I think of Doraemon, Nobuyo Oyama’s voice plays in my mind,” one user wrote on social platform X. Another wrote: “Doraemon, I’ve loved you ever since I can remember, thanks to Nobuyo Oyama.”

Others expressed grief that Oyama had died so shortly after the death in July of Noriko Ohara, the voice of Nobita.

This post appeared first on cnn.com

Russian President Vladimir Putin said he shares a “very close” worldview with his Iranian counterpart Masoud Pezeshkian, as the sanctioned leaders held a friendly inaugural meeting just as the Middle East braces for Israel’s response to Tehran’s largest-ever missile attack last week.

The meeting at a regional summit in Ashgabat, the capital of the Central Asian country Turkmenistan, also comes against a backdrop of closer military ties between Iran and Russia’s military in recent years, particularly since the invasion of Ukraine in February 2022.

“We are actively working together in the international arena and our assessments of events taking place in the world are often very close,” Putin said during the landmark meeting, according to Russian state media outlet TASS.

“Since Ukraine, the two countries have been more equal in terms of both needing each other and relying each other on specific issues. And that, I think, has been seen as beneficial from the Iranian side,” said Aniseh Bassiri Tabrizi, senior analyst and associate fellow, at UK think tank Chatham House.

Moscow and Tehran have a de facto military alliance in the region to support the regime of Syrian President Bashar al-Assad. Analysts say the countries have found further common ground as they are increasingly isolated by global sanctions.

There is a perception in Moscow that Iran can teach Russia about the tools to evade sanctions, Bassiri Tabrizi noted, adding, “I think it’s overall a goal from the Iranian side, so that has been part of the broader conversation about being part of the BRICS,” the bloc of major emerging economies that Iran formally joined early this year.

Pezeshkian, a reformist who won Iran’s election in July following the death of President Ebrahim Raisi in a helicopter crash, has already emphasized his desire to strengthen bilateral cooperation with Russia to counter the “cruel” sanctions of the West.

In a meeting with Russian Prime Minister Mikhail Mishustin in Tehran last week, the Iranian leader called for accelerating joint projects. Meanwhile, Russia expressed interest in expanding trade and economic cooperation as well as diversifying its bilateral trade with Iran.

The Russian prime minister also invited Pezeshkian to attend the October BRICS summit in Russia, where the two countries are expected to sign a comprehensive strategic agreement.

The Russian foreign ministry has touted these meetings as evidence that Russia-Iran relations are at an “all-time high,” according to TASS.

Ahead of the meeting, Kremlin spokesman Dmitry Peskov said the agenda will focus on “primarily bilateral Russian-Iranian relations,” according to TASS. “But, of course, the situation in the Middle East will not be ignored, it will also be on the agenda. In any case, there will be a serious conversation.”

There have also been reports of Russian involvement in arms transfers to the Iran-backed Houthis. Viktor Bout, the Russian arms dealer who was exchanged in a prisoner swap for American basketball star Brittney Griner, has allegedly reentered the arms trade to broker the sale of $10 million worth of automatic weapons to the Yemen-based rebels, The Wall Street Journal and other Western media outlets reported this week, citing unnamed Western officials. Bout has denied that.

However, developments in the Middle East have not necessarily strengthened Iran-Russia relations, Bassiri Tabrizi noted, and some analysts argue that Russia stands to benefit from the conflicts involving Iranian proxies distracting from the war in Ukraine on the international stage.

This post appeared first on cnn.com

A United Nations inquiry has accused Israel of carrying out a “concerted policy” of destroying the health care system in Gaza during its year-long conflict with Hamas in attacks it said amount to war crimes.

Israel’s actions in the besieged Palestinian enclave “constitute the war crimes of willful killing and mistreatment and the crime against humanity of extermination,” the commission said in a statement Thursday.

“Israeli security forces have deliberately killed, detained and tortured medical personnel and targeted medical vehicles” in Gaza, according to the report by the UN’s Independent International Commission of Inquiry on the Occupied Palestinian Territory, including East Jerusalem, and Israel.

The Israeli attacks resulted in “fuel, food, water, medicines and medical supplies not reaching hospitals, while also drastically reducing permits for patients to leave the territory for medical treatment,” it said.

The Israeli foreign ministry called the accusations “outrageous” and said they were “another blatant attempt by the (commission) to delegitimize the very existence of the State of Israel and obstruct its right to protect its population while covering up the crimes of terrorist organizations.”

“This report shamelessly portrays Israel’s operations in terror-infested health facilities in Gaza as a matter of policy against Gaza’s health system, while entirely dismissing overwhelming evidence that medical facilities in Gaza have been systematically used by Hamas and the Palestinian Islamic Jihad for terrorist activities.”

Hamas, it said, uses medical facilities to conceal operatives, store weapons, conduct attacks and hide hostages. Hamas has repeatedly denied that it uses hospitals for military activity.

The UN report also accused Hamas and other Palestinian militant groups of committing war crimes of “torture, inhuman or cruel treatment, rape and sexual violence” for their treatment of Israeli hostages held captive in Gaza. It also investigated “institutionalized mistreatment” of Palestinian detainees in Israeli prisons.

The Israeli foreign ministry rejected “accusations of widespread ill-treatment and torture of detainees,” saying Israel is “fully committed to international legal standards” on treatment of detainees.

In a statement accompanying the 24-page report, which does not have the force of law, former UN High Commissioner for Human Rights Navi Pillay said Israel “must immediately stop its unprecedented wanton destruction” in Gaza.

“Children in particular have borne the brunt of these attacks, suffering both directly and indirectly from the collapse of the health system,” she said.

As part of the report, UN experts investigated the killing of 5-year-old Palestinian girl Hind Rajab, who made headlines in late January after a recording emerged of her pleading to emergency workers to rescue her and her family after they became trapped in their car due to Israeli shelling.

Despite an ambulance arriving at the scene while the girl was still alive, the presence of Israeli security forces effectively “prevented access,” meaning the bodies of Rajab’s relatives “could not be retrieved from their bullet-ridden car until 12 days after the incident,” the report said.

The report “determined on reasonable grounds that the Israeli Army’s 162nd Division” which operated in the area at the time is “responsible for killing the family of seven, shelling the ambulance and killing the two paramedics inside.”

The incident was just one of several alleged attacks on health care in Gaza, amid broader wartime conditions.

The report will be presented to the UN General Assembly on October 30.

The commission previously alleged that both Israel and Hamas committed war crimes in the early stages of the Gaza war, and that Israel’s actions also amounted to crimes against humanity.

This post appeared first on cnn.com

Amazon: $20B+ Cost Cuts, $186 Stock Hurdle

Amazon (NASDAQ: AMZN) might reduce its costs dramatically by deploying autonomous electric vehicles (EVs) for middle- and last-mile deliveries, reports JMP Securities. This development could significantly impact the Amazon stock outlook. The investment firm approximates that these technological improvements could save the e-commerce giant more than $20 billion per year.

Right now, fuel expenses make up 25-30% of per-mile expenses in delivery operations. However, with EVs, energy costs could decrease by nearly 50%. Furthermore, driver wages and benefits- the biggest part of per-mile costs, exceeding 40%- could be diminished automatically.

Amazon estimates replacing self-driving trucks with autonomous electric vans could cut global shipping costs by 20%. This change could save the company up to $1.15 per mile. In the near term, JMP expects up to $7 billion in OCR savings. This projection is based on integrating electric Rivian vans into Amazon’s last-mile fleet.

In line with these cost-reduction measures, investors may retain some hesitancy in the face of volatile market conditions. Given the high stock valuations in 2024, many investors are cautious about taking on unnecessary risk. However, sectors focused on innovations like autonomous EV technology may still offer potential growth opportunities.

Amazon Stock Chart Analysis

AMZN/USD Chart

Observing the 15-minute chart of Amazon (NASDAQ: AMZN), the stock has been traded within a quite narrow range in the past two days. After the steep fall on September 29, the AMZN shares found the support level very close to $181, as well as through around the $182 level after that, thereby some sort of temporary stability. Traders have made several efforts to push the stock up, yet it remains confined within the $182 and $186 range.

We saw a tremendous rise in the volume of trading in the first week of October that briefly propelled the stock to more than $185, but it was a short-lived effect. The stock price soon faced a backlash and went back to the $182-$183 range after October 3. It appears that the pressure to sell is becoming stronger at such higher points, which makes it harder for AMZN stock to hold profits over $185.

The stock is currently around $181.94, up by 0.07% in the previous session. We are noticing that the $181 level is the cause of short-term support, and when the volume dwindles, buyers might be afraid to take it further. The Amazon stock outlook hinges on whether AMZN can break out above $186 with strong support, or if a drop below $181 will trigger more selling pressure.

It would serve as an opportunity for short-term traders to purchase and profit from the upward breakout. Keep an eye on these breakthrough levels while we proceed!

The post Amazon Stock Outlook: Resistance at $186; Eyes $20B+ Savings appeared first on FinanceBrokerage.

In this video from StockCharts TV, Julius presents a few conflicting rotations and signals that continue to warrant caution while the S&P 500 keeps hovering just above support. With the negative divergences between price and MACD/RSI remaining intact, SPY should not break 565. Julius looks at rotations in asset classes, growth/value factors, and US sectors to assess the current state of the markets.

This video was originally published on October 8, 2024. Click anywhere on the icon above to view on our dedicated page for Julius.

Past episodes of Julius’ shows can be found here.

#StayAlert, -Julius

Even though the S&P 500 index appears to be relentlessly pursuing new all-time highs, the traditional seasonal weakness in October leads me to be very focused on risk management right about now.

After my latest conversation with fellow StockCharts contributor Joe Rabil, in which I got to hear his thoughts on risk management, I wanted to share some reflections on what risk management could mean for investors as we get into the meat of the 4th quarter.

Watch the S&P 500’s “Line in the Sand”

My general approach to technical analysis is to determine the current trend, then identify what level or signal would convince me that the trend had reversed. I call this the “line in the sand” technique, because you literally draw a line on the chart, and then don’t give the chart a second thought until and unless that line is violated.

For the S&P 500, that means I’m laser-focused on the 5650 level. The July peak was right around this level, along with the subsequent peaks in mid and late August. The September breakout above 5650 was a key bullish move for the benchmark, and I would expect a break back below this price point could signal the end of the current bull run.

So until and unless we see the S&P 500 break below 5650, then the current bullish trend appears to be alive and well!

Breadth Indicators Could Provide an Early Warning

Now even if the S&P is still holding key support, plenty of individual names could break down before the benchmarks. In fact, this happens quite often during major market tops like 2007! Market breadth indicators are perhaps the best way to analyze and track this potential divergence, where individual stocks start to break down.

Here, we can see the S&P 500 for the last 12 months, along with the new 52-week highs minus new 52-week lows, the new highs and lows for the entire NYSE, and the new highs and lows for the S&P 500 members.

Did you notice how all three of these data series topped out in mid-September, and have been steadily declining since then? A healthy bull market phase usually sees an expansion in new 52-week highs, as the leading names are powering to the upside. But, in the last few weeks, we’re seeing a significant breadth divergence that tells me to be skeptical of the current uptrend phase.

Keep Your Position Size Manageable

In my latest podcast episode with fellow StockCharts contributor Joe Rabil, he shared some words of wisdom on how to think about risk management.  I particularly appreciated his thoughts on position sizing, sharing that he usually risks about 1% of his portfolio on each new idea.

Options expert Price Headley once quipped, “If you’re having trouble sleeping at night, your position size is too big!” By being thoughtful and intentional about how much capital we risk on each new idea, we can minimize the pain in case some of the bearish signs we’re observing actually play out in the days and weeks ahead!

Mindless investors ignore risk management, focusing instead on how much they stand to gain if they’re proven right. Mindful investors recognize that they will often be wrong, and by managing risk, they can survive to invest another day.

RR#6,

Dave

P.S. Ready to upgrade your investment process? Check out my free behavioral investing course!


David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

The author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

In this exclusive StockCharts TV video, Joe presents the price pattern to follow the recent breakout in the S&P 500. He discusses narrow range bars, wide range bars and when they are important. Joe then explains what needs to take place now to either confirm a breakout or a failure here; he briefly shows the Volatility condition of the SPY as well, and then analyzes at the QQQ and IWM. Finally, Joe goes through the symbol requests that came through this week, including BABA, PYPL, and more.

This video was originally published on October 9, 2024. Click this link to watch on StockCharts TV.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

As an investor and a technical analyst, there are numerous tools available for you on StockCharts that you can use to find tradable opportunities.

One idea is to begin with a survey of top-performing sectors. It’s Wednesday morning; the Dow jumped 400 points, the S&P 500 ($SPX) hit a record high, and technology stocks spearhead the rally. To begin, under the Charts & Tools tab on Your Dashboard, select Sector Summary (under Research Tools).

If you switch from the default Intraday setting to One Week, you’ll see that the Technology sector is leading the pack.

FIGURE 1. ONE WEEK SECTOR SUMMARY.  The Technology sector is in the top position.Image source: StockCharts.com. For educational purposes.

It’s interesting that tech also held the top spot for the last month. Now, let’s zoom in on the industry level by clicking “Technology Sector Fund.” Semiconductors are on top.

FIGURE 2. ONE WEEK INDUSTRY SUMMARY. Semiconductors lead the pack at the industry level.Image source: StockCharts.com. For educational purposes.

Looking at this information, it makes sense to identify exchange-traded funds (ETFs) that follow Tech or semiconductor stocks.

To begin your analysis, let’s compare three charts (one that represents the sector, another that represents the industry, and one that focuses on stocks within the industry. We’ll use the Technology Select Sector SPDR Fund (XLK), Dow Jones US Semiconductors Index ($DJUSSC), and VanEck Vectors Semiconductor ETF (SMH).

Tech Sector, Semiconductor Industry, and Semiconductor ETF

FIGURE 3. ACP COMPARISON DAILY CHART OF XLK, $DJUSSC, AND SMH. They look identical, but are they?Chart source: StockChartsACP. For educational purposes.

The charts are nearly identical, which makes sense as chip stocks were a significant driver in tech. Given the similarity in performance, perhaps XLK provides a more diversified alternative to concentrating on the semiconductor industry. Let’s take a look at XLK’s daily chart.

FIGURE 4. DAILY CHART OF XLK. A rising smaller trend within a larger swing outlines a wide range of support and resistance.Chart source: StockCharts.com. For educational purposes.

Looking at the broader tech proxy, XLK, you can see a smaller rising trend within a large swing that outlines a wide range of support and resistance. Drawing a Quadrant Line from the bottom to the top, you can gauge where this trend is relative to the intermediate-term highs and lows. For the trend to continue, price has to break above the Quadrant Line at $237.50, while staying preferably above the bottom quadrant (see blue arrow), where it last bounced, at $202.50.

The High-Low Percent breadth indicator above the chart shows modest bullishness, as the number of 52-week highs outnumber 52-week lows, giving you a slightly bullish reading of 15.38%.

Look at the relative performance between XLK and $DJUSCC in the panel below the chart (comparing the sector to the industry). The sector has been underperforming the semiconductor industry since December 2023 (see zero line) and is currently at -32.79%.

Perhaps a semiconductor ETF might be the way to go. But which one? You have a choice of the following:

  • VanEck Vectors Semiconductor ETF (SMH), which is the most liquid
  • iShares Semiconductor ETF (SOXX), another popular ETF, and
  • SPDR S&P Semiconductor ETF (XSD), the smallest of them all by market cap.

Let’s compare their performance to $DJUSSC using StockCharts PerfChart.

FIGURE 5. PERFCHART OF $DJUSSC, SMH, SOXX, SXD. There’s a huge difference in performance between the four.Image source: StockCharts.com. For educational purposes.

All three ETFs are tightly correlated to $DJUSSC, but their relative performances are worlds apart. The best-performing ETF is SMH, which happens to be the most liquid and largest by market cap.

Let’s switch to a daily chart of SMH. In the panel above the chart, you’ll notice the sideways-moving On Balance Volume, indicating that buying/selling pressure is virtually at a standstill as if the asset is waiting for something. What might that be? Notice how the last move down from the July high to the August low corresponds with heavy selling pressure, as shown by the Chaikin Money Flow (CMF). Also, notice how the CMF is trending up.

FIGURE 6. DAILY CHART OF SMH. The first top quadrant is one to watch closely.Chart source: StockCharts.com. For educational purposes.

It makes you wonder how many traders were short SMH or how many just dumped their shares. If some are still short, where will they close to avoid a squeeze? It will likely be close to the first quadrant, which, for the bears, would break the 75% line if you’re measuring from the top down (magenta circle).

Bullish traders jumped in at the bounce near the bottom, and the real action is likely in the top quadrant. That’s where we’ll see if the trend continues (it would need to break resistance at $281.70) or if things go sideways until a major catalyst shakes it up and out of its range.

At the Close

When deciding what stock or ETF to trade, start with the big picture by looking at top-performing sectors. Then, zoom in on the industries driving them. In this case, tech stocks lead the way, with semiconductors at the forefront.  Despite their visual similarities in performance, each asset showed different relative performance, especially between the $DJUSSC index and the three semiconductor ETFs that were nearly 100% correlated with it.



Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation or without consulting a financial professional.

Chariot Corporation Limited (“Chariot”, “CC9” or the “Company”) is pleased to advise that it has intersected significant zones of strong lithium-tantalum mineralisation in the first three (3) holes (“First Three Holes”) of the maiden drill program at the Black Mountain Project (“Black Mountain”), in Wyoming, U.S.A.

HIGHLIGHTS:

Black Mountain maiden drill program delivers strong initial hard rock lithium results with multiple mineralised lithium intersections from first three (3) holesFirst three (3) holes all intersected high-grade spodumene mineralisation confirming the potential of the Black Mountain LCT pegmatite swarmsNotable results from first three (3) holes include:BMDDH23_01 15.48m @ 1.12% Li2O and 79ppm Ta2O5 from 2.74m, including 4.27m @ 2.46% Li2O and 128 ppm Ta2O5 from 9.94mBMDDH23_02 14.33m @ 0.84% Li2O and 61ppm Ta2O5 from 1.83m, including 2.29m @ 3.09% Li2O and 138ppm Ta2O5 from 10.67mBMDDH23_03 18.81m @ 0.85% Li2O and 98ppm Ta2O5 from 45.26m, including 5.79m @ 1.08% Li2O and 105ppm Ta2O5 from 47.55mHigh-grade potential with individual grades downhole of up to 3.79% Li2O and 230ppm Ta2O5Drilling continues with eight (8) holes having been completed to date, assay results for the subsequent five (5) holes are pending and expected to be announced by April 2024BDDDH23_01 intersected a zone of stockwork vein and disseminated pyrite-pyrrhotite mineralisation over an interval of approximately 100m within the biotite schistThe Company is optimistic it may have intersected the peripheral portion of a potentially larger base metal mineral system, with selected intervals grading up to 0.6% (6,012ppm) Cu, 1.0% (9,931ppm) Zn and 15.4% (154,412ppm) PbThe Company plans to extend the soil sampling program and run preliminary IP lines over the base metals anomaly in Q3 2024

These drill results confirm the potential of the Black Mountain lithium caesium tantalum (“LCT”) pegmatite swarms with the assays returning individual lithium and tantalum values of up to 3.79% Li2O (BMDDH23_01-0021) and 230ppm Ta2O5 (BMDDH23_01-0033).

This is the first hard rock lithium discovery, through drilling, in Wyoming, U.S.A. Wyoming Lithium Pty Ltd (“WLPL”) and Panther Lithium Corporation (“PLC”) co-founder1, Dr Edward Max Baker2 commented:

“We’ve got stunning initial results in the midst of the North American winter. The targeted hard rock lithium system has been intersected in multiple holes, but we need to come back in the North American summer for a 5,000 – 10,000m drill program to get a better handle of the resource potential. The base-metals sulfide mineralisation is also very promising and indicates the potential for base metals and/or gold mineralisation, separate from the lithium mineralisation.”

First Three Holes: Drill Results

The First Three Holes (being drill holes BMDDH23_01 to BMDDH23_03) have been completed and assayed with the results summarised in Table 1 (see also Figure 1). A total of eight (8) holes have been drilled to date. The assay results for the subsequent five (5) drill holes are pending and expected to be announced by the end of April 2024.

The drill intercepts reported from the First Three Holes confirm the lithium potential of the Black Mountain LCT pegmatites (see Table 1), as indicated by the surface rock chip sampling results which were disclosed in the Company’s initial public offering prospectus and the Company’s announcement dated 9 November 2023.

The visual inspection of the drill cores indicates that the high-grade lithium values are from intervals containing spodumene mineralisation, with no other lithium bearing mineral phases being visually identified to date.

BMDDH23_01 and BMDDH23_02 were drilled from Pad 1 in the central Northwest swarm area (“Northwest Area”). BMDDH-23-01 hole was drilled to a depth of 177m at an azimuth of 260 degrees and a dip of -50 degrees (see Figure 2, Figure 3 and Figure 4 for selected photos of Drill Core). BMDDH23_02 hole was drilled to a total depth of 42m with the same azimuth BMDDH-23-01, but with a dip of -65 degrees (see Figure 1).

Click here for the full ASX Release

This post appeared first on investingnews.com