SYDNEY, AUSTRALIA: Future Battery Minerals Ltd (FBM) has announced the acquisition of an 85% stake in Coolgardie Nickel Pty Ltd, a subsidiary of Corazon Mining Limited.
This acquisition includes the promising Miriam Project, known for its high-grade spodumene-bearing pegmatites.
FBM’s Managing Director, Nicholas Rathjen, expressed confidence in the acquisition, stating, “The Miriam Project is a highly prospective, drill-ready opportunity that complements our existing Kangaroo Hills Lithium Project. We are eager to begin work and expect to commence drilling in the third quarter of 2024.”
The incoming Non-Executive Chairman, Neville Power, shared his enthusiasm for the future, highlighting the company’s strategic positioning in Western Australia and Nevada. He also extended gratitude to the outgoing Chairman, Mike Edwards, for his significant contributions to FBM’s growth.
The Miriam Project, located north of FBM’s flagship Kangaroo Hills Lithium Project, is set to enhance FBM’s regional landholding. With rock chip samples yielding up to 1.85% Li2O and a primary target area extending 1.6 km, the project presents a substantial opportunity for exploration success. Corazon will retain all base and precious metal rights at the Miriam Project.
The transaction is expected to be finalized by mid-May 2024, following the satisfaction of conditions precedent. In conjunction with this strategic acquisition, Mr. Neville Power will step into the role of Non-Executive Chairman, with Mr. Mike Edwards transitioning to a Non-Executive Director position within the company.