SYDNEY, AUSTRALIA: The Board of Mt Monger Resources Limited (ASX: MTM) has executed two binding agreements to acquire a suite of mineral exploration tenements in the Ravensthorpe region of Western Australia (battery metal project), within the Albany-Fraser Orogen.
The areas are considered to be highly prospective for lithium, graphite, nickel-copper-PGE and gold mineralisation.
Regarding the acquisitions, Managing Director Lachlan Reynolds said: “This new acquisition opportunity gives Mt Monger an imminent pathway to expand our exploration program into a key region of Western Australia where there are world-class deposits of commodities that are in high demand and essential for EV batteries and the accelerating, global decarbonisation effort.
The project strongly complements our existing portfolio of gold, REE and base metal projects.
The projects are strategically positioned near to the Mt Cattlin lithium mine operated by Allkem; the First Quantum Minerals’ Ravensthorpe Nickel Operation; the Munglinup graphite/graphene development being advanced by Mineral Commodities and a number of other exciting mineral developments such as the Medallion Metals’ Ravensthorpe Gold Project.
Furthermore, being in the Ravensthorpe district, the project areas are easy to access and have excellent availability of transport infrastructure, labour and exploration/mining-related technical services.
We are currently expanding our technical team so a dedicated exploration effort can be directed toward this exciting multi-commodity battery metals project and we look forward to providing results to shareholders in due course.”
Highlights:
- Exclusivity agreements secured for the potential acquisition of three new projects in the highly prospective Ravensthorpe district of Western Australia
- Includes historic lithium occurrences over a 4km strike in a pegmatite-bearing area east of the Mt Cattlin lithium mine
- Eight granted exploration licences coving ~1,000 km2 area
- Additional potential for nickel-copper-cobalt-PGE, graphite and gold
- Known historical occurrences and limited historical exploration adjacent to major operating mines and new project developments
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