MTM Essential Metals Restricted (ASX:MTM) (MTM or the Firm) has entered right into a binding settlement to amass 100% of Flash Metals Pty Ltd (Flash), the useful proprietor of three key exploration licenses potential for niobium and uncommon earth components (REE) within the West Arunta area of Western Australia.
Highlights:
- MTM to amass 100% of Flash Metals Pty Ltd, the useful proprietor of three granted exploration licences in Western Australia’s West Arunta area, instantly adjoining to floor held by WA1 Sources (ASX:WA1) and Encounter Sources (ASX:ENR).
- Deal contains acquisition of the Mukinbudin Niobium-REE Mission, comprising 2 granted exploration licences situated 250km northeast of Perth within the South West Mineral Subject of Western Australia.
- Flash additionally holds an choice to completely negotiate the rights to Flash Joule Heating expertise developed by Rice College in Houston, USA which has demonstrated the potential to deal with REE mineralisation and extra effectively get better vital metals from vital metal-rich recycling and waste streams.
Overlaying ~140km2, the granted West Arunta Niobium-REE licences are situated instantly adjoining to tenements held by WA1 Sources Restricted (ASX:WA1, $484m mkt. cap.) and Encounter Sources Restricted (ASX:ENR, $107m mkt. cap.), the place niobium-REE mineralised carbonatites have just lately been found:
The West Arunta area is one in every of Australia’s vital metallic exploration hotspots with over $60m in exploration expenditure collectively invested within the district by various ASX firms together with Rio Tinto Restricted (JV with Tali Sources Pty Ltd) (ASX:RIO), CGN Sources Restricted (ASX:CGR), and IGO Restricted (ASX:IGO).
The Flash transaction additionally contains the acquisition of the Mukinbudin Niobium-REE Mission, comprising two exploration licences situated 250km northeast of Perth within the South West Mineral Subject of Western Australia. The tenements which are included within the Flash transaction comprising the West Arunta Niobium REE Mission (E/80/5858, E80/5874 and E80/5875) and the Mukinbudin Niobium-REE Mission (E70/6048 and E70/6359) are collectively, the WA REE Tenements (Appendix I).
Flash additionally has an choice (FJH Possibility) to completely negotiate the licencing rights to an early-stage processing expertise for REE and treasured metals generally known as Flash Joule Heating (FJH), which has been developed by researchers at Rice College within the USA (see Rice College article at https://information.rice.edu/information/2022/rare- earth-elements-await-waste).
MTM Managing Director, Mr Lachlan Reynolds mentioned the Flash acquisition offers the Firm with compelling exploration alternatives according to its technique to find and develop vital metallic initiatives.
“We’re very excited to amass such potential floor within the West Arunta province, the place there is a chance to find new niobium-rare earth deposits in traditionally untested floor proper subsequent door to some rising mineralised carbonatite initiatives recognized by each WA1 Sources and Encounter Sources,” Mr Reynolds mentioned.
“Moreover, Flash Joule Heating has proven promise throughout take a look at work for metallic recycling and for therapy of waste akin to coal fly ash however we’re very eager to see what functions it might have for treating uncommon earth mineralisation, the place a breakthrough may unlock immense worth from in any other case economically marginal deposits.”
Mr Reynolds mentioned the rapid focus at West Arunta is to finish heritage agreements with the native Native Title holders and proceed with a first-pass exploration program.
West Arunta Niobium REE Mission
Determine 1: The West Arunta Niobium-REE Mission contains three granted exploration licences in japanese central Western Australia, situated inside the Gibson Desert about 130km west of the Northern Territory/ Western Australia border within the East Kimberley Mineral Subject.
Historic exploration within the West Arunta WA REE tenement areas could be very restricted. There was no drilling on the bottom, nor have any systematic geochemical sampling or geophysical surveys been accomplished. The West Arunta area has traditionally been explored for gold and copper with reconnaissance airborne geophysics and restricted floor geophysical and geochemical surveys. The situation of the West Arunta WA REE Tenements and their proximity to tenements held by WA1 and Encounter are proven in Determine 1.
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