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Macarthur Minerals Limited (TSXV:MMS) announced that it has applied for three additional exploration licences in the Pilbara and Ravensthorpe regions of Western Australia expanding its potential tenement area to 1,192 square kilometres.
Macarthur Minerals Limited (TSXV:MMS) announced that it has applied for three additional exploration licences in the Pilbara and Ravensthorpe regions of Western Australia expanding its potential tenement area to 1,192 square kilometres. One of the two new Ravensthorpe applications has mapped pegmatites with potential to host lithium mineralization.
As quoted in the press release:
The Company now has one of the largest tenement portfolios for ‘hard rock’ lithium of any junior exploration company globally and is one of a few TSX-V listed companies to have potential projects for lithium in Australia. The expansion of the Company’s acreage package is consistent with the Company’s focus on exploration of raw materials for the production of lithium batteries.
New Pilbara Tenement
The location of the new Pilbara exploration licence application E45/4735, which covers an area of 16 square kilometres, is shown in Figure 1. The new Pilbara application is proximate to the Company’s existing application E45/4732 and the lithium projects of Australian Securities Exchange listed companies, Pilbara Minerals Limited and Altura Mining Limited. Pilbara Minerals Limited recently announced that it has raised A$100 million to develop its Pilgangoora lithium-tantalum project.
New Ravensthorpe Tenement
The location of the two new Ravensthorpe exploration licence applications E74/587 and E74/588, which cover an area of 91 square kilometres, is shown in Figure 2. The new Ravensthorpe exploration licence applications are proximate to the Mount Cattlin project of Australian Securities Exchange listed Galaxy Resources Limited (“Galaxy”), which is currently mining and processing spodumene and tantalum concentrate near Ravensthorpe in South Western Australia.