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Berkeley Energia kicks off drilling campaign in Spain

The first area being targeted is in the west of the licence area 50km from Retortillo. This area has previously been mined for tin and high-grade lithium and has reported significant cobalt anomalies.

Drill going into the ground
The company is planning 3,350m metres of drilling

Berkeley Energia Ltd (LON:BKY) shares rose on Tuesday following news the firm has kicked off the initial drill programme across its large licence holding in Western Spain.

The first phase of a 13-hole programme will see six holes drilled, with the company targeting lithium, cobalt, tin, tungsten and rare earths - several of which have previously been mined in commercial quantities in the area.

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The results from this drill programme will be fed back into the database and more refined targets will be interpreted. The drilling campaign will allow for further analysis of the mineral and metal endowment across the company's licence area.

"The commencement of an exploration programme for battery and EV [electric vehicle] metals is an important step as it allows the company to build on the excellent work the team has done in generating targets across our large licence holding over the past two years," said Paul Atherley, the managing director and chief executive officer of Berkeley.

In afternoon trading, shares in Berkeley Energia were 3.5% higher at 20.2p.

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Quick facts: Berkeley Energia Ltd

Price: 27.7 GBX

Market: LSE
Market Cap: £71.63 m


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