The Conversation (0)
Tambourah Metals Ltd (“TMB” or ‘the Company”) is pleased to announce that global lithium company Sociedad Química y Minera de Chile S.A., via its wholly owned subsidiary SQM Australia Pty Ltd (“SQM”), will partner with TMB on its Julimar Nth project.
Highlights
- Tambourah and the Chilean lithium producer Sociedad Quimica y Minera de Chile S.A. (SQM) (NYSE: SQM) have entered into an agreement providing SQM with an exploration earn-in across six of Tambourah’s Julimar Nth projects in Western Australia.
- SQM has been granted the right to earn an initial 50% interest (and can earn a maximum of 70%) in all mineral rights at Julimar Nth project by sole funding a minimum of A$1.5m and up to $3m of exploration and development activities.
- SQM will re-imburse Tambourah for $350,000 for previous expenditure.
- SQM is one of the world’s leading lithium producers with its main assets in Australia being its 50% joint venture interest in the Mt. Holland Lithium Project as well as other lithium related investments and early-stage exploration.
- Tambourah Metals Ltd is in an active explorer for lithium with a significant exploration portfolio in WA.
- Tambourah Metals Ltd has completed gravity, EM and MMT surveys at Julimar Nth since listing in August 2021.
This strategic investment by SQM is a strong endorsement of the lithium potential of Tambourah’s Julimar Nth Project and highlights its potential for Lithium prospectivity.
Figure 1: SQM Earn-In Location Plan
Figure 2: SQM Earn-In Location Plan Geology
Commenting the SQM Earn-In, Tambourah’s CEO Mr. Ralf Kriege mentioned: “We are pleased to welcome SQM as a strategic partner in our Julimar Nth project. The new relationship will allow Tambourah to draw upon SQM’s technical expertise in pegmatite- hosted lithium exploration while allowing Tambourah to work in parallel on its other Lithium and Critical Mineral projects.”
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