Ariana Resources, Metal Tiger Sign MOU For Lithium-Tantalum Opportunities

Ariana Resources (LSE:AAU) reported that it has signed a memorandum of understanding (MOU) with Metal Tiger (LSE:MTR) for the review, exploration and development of lithium-tantalum opportunities in the Malay Peninsula.
As quoted in the press release:

• Initial work undertaken by both the Metal Tiger’s Thai JV operating partners and Ariana Resources technical teams indicate substantial lithium-tantalum prospectivity in the Malay Peninsula.
• Metal Tiger and Ariana Resources to collaborate on lithium-tantalum projects specifically in Thailand and Myanmar under an MoU and informal 50:50 Joint Venture (“JV”).
• A formal lithium JV structure will be adopted once specific projects are secured, although both companies have the right to assign their interests in the MoU to other group companies or to third parties at any time.
• Metal Tiger’s Thai JV operating partners are undertaking a detailed review of Thailand lithium prospectivity and have identified numerous targets for further investigation.
• Licence applications over suitable targets will be submitted by Metal Tiger’s Thai JV operating partners and notified to the market when granted.
• Subject to licencing, the market will be notified of planned work programmes and the outcome of material work undertaken.

Ariana Resources Managing Director, Dr. Kerim Sener, said:

We are very pleased to enter this collaborative framework with Metal Tiger on lithium-tantalum opportunities in the Malay Peninsula.  Following on from the significant momentum we have attained through the focus of our technology-metals subsidiary, Asgard Metals, and specifically the successful completion of our recent deal with Dakota Minerals Limited (ASX:DKO), we are keen to build on our strategy to identify similar project opportunities worldwide.
The Malay Peninsula is significantly prospective for lithium-tantalum mineralisation associated with the pegmatite vein systems that once supported an extensive tin mining industry.  Through this agreement, we now have a partnership with a trusted local operator, with which we are aiming to secure several high-quality exploration projects.  We look forward to working with the Metal Tiger Thai JV operating team in this strategic collaboration between the companies.

Click here for the full press release.