SYDNEY, AUSTRALIA: Askari Metals Limited (ASX: AS2), an Australian based exploration company with a portfolio of battery metals (Li +Cu) and precious metals (Au + Ag) projects across Western Australia, Northern Territory and New South Wales, announced that the company has entered into a binding acquisition agreement with Raiden Resources Limited to acquire 100% of the Myrnas Hill Lithium Project (E45/4907), located in the highly prospective Pilbara region of Western Australia.
The Myrnas Hill Lithium Project is considered highly prospective for Lithium-Tin-Tantalum (Li + Sn + Ta) mineralisation.
Commenting on the acquisition opportunity, Executive Director, Mr Gino D’Anna stated: “The acquisition of the Myrnas Hill Lithium Project bolsters the Company’s presence in the Pilbara region of Western Australia. Sitting exclusively within the LCT Pegmatite “Goldilocks Zone”, the Myrnas Hill project is considered highly prospective for lithium pegmatite mineralisation. Exploration success by others around the Myrnas Hill project has demonstrated the fertility of this project area and we are very excited by the opportunity to commence exploration immediately.
Myrnas Hill is highly complementary to our district-scale Yarrie Lithium Project, and we see this as a terrific opportunity to expand our footprint in areas that have a high chance of exploration success.
The Pilbara region in Western Australia hosts the some of the world’s largest and highest grade hard-rock lithium projects and has developed a reputation for being the leading jurisdiction for hard-rock lithium exploration, development and production.
The Myrnas Hill Lithium Project is situated in between the DOM’s Hill Lithium Project which is a JV between Kalamazoo Resources and Chilean-based mining giant SQM and the Pear Creek Lithium Project which is owned by Kalamazoo Resources. Myrnas Hill is also located less than 30km north-west of the Global Lithium Resources’ Archer Lithium deposit and within 50km of the giant Pilgangoora and Wodgina Lithium mines.”