Reedy Lagoon is exploring for for gold and iron ore in Western Australia, and for lithium in the United States of America.
In Western Australia, about 250 kilometres east of Perth, Reedy Lagoon held the Burracoppin Magnetite deposit when it was discovered in 2012 with its then Bullamine Joint Venture farm-in partners, including Cliffs Magnetite Holdings Pty Ltd as project manager. Magnetite mineralisation in multiple bands with variable continuity was intersected by drilling in 2012. Following termination of the joint venture, Reedy Lagoon re-aquired the Burracoppin Magnetite Prospect and is considering development alternatives, including HIsmelt technology. Additional drilling is required.
In 2020, Reedy Lagoon applied for additional licences at Bullamine, to explore for gold in areas around the major Yandina Shear Zone. The expanded project area lies between the Edna May gold mine, 30 kilometres to the northeast, and the Tampia gold deposit, 60 kilometres to the south, and contains known small-scale gold occurrences.
In the United States, Reedy Lagoon is exploring for lithium in the Clayton Valley area.
The identification of increasing demand for lithium, and the prospect of emerging new processing technologies for extracting lithium from brines, led to Reedy Lagoon developing projects in Nevada, USA. At 1 September 2019 the Company held 2 project areas located in Nevada where it is exploring for lithium. The project areas are in closed geological basins which share similar geology with Clayton Valley in which North America's only lithium producing brine operation is located (Silver Peak).
The lithium brine projects are:
Alkali Lake North:
128 claims - 2,554 acres (1,033 ha)
112 claims - 2,240 acres (906 ha)
The two projects cover a combined area of 1,939 hectares (4,794 acres) under 240 placer claims. All the placer claims are 100% owned and there are no royalty arrangements.
Reedy Lagoon's projects are located within 50 kilometres of the Silver Peak Lithium brine operation owned by Albemarle Corp. which is located 360 kilometres by road (US-95 route) from the Tesla Gigafactory (Lithium-ion batteries) in Reno.