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Saturday, November 26, 2022

White Cliffs Takes More WA Lithium Ground

ASX-listed Explorer White Cliff Minerals has sealed a binding agreement to acquire a trio of tenement applications from Explorer Abraxis Mining and its surrounding tenement applications in the Pilbara region considered highly potential for lithium for its WA-focused batteries. – Metal arsenal is boosted.

The new ground covers an area of ​​294 square kilometers and is crucially within the boundaries of two promising lithium projects.

Following the news, the company’s followers gave a thumbs up to the move with shares of the company rising nearly 30 per cent in intraday trading.

White Cliffs says that every inch of its new term is considered potential for lithium-bearing pegmatites; However, it is largely underexplored.

The purchase price includes $40,000 in cash, $80,000 in White Cliff stock and a 1 percent net smelter royalty.

According to the company, its Abraxis Lithium Project Area is located approximately 15 km east of Rivergold’s Tambora Project and QX Resources’ Western Shaw Lithium Projects.

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Rivergold says the geological setting at Tamboura is similar to large lithium-cesium-tantalum complexes such as the two major WA lithium projects in Pilgungura and Wodgina.

According to RiverGold, a previous exploration by Altura Mining in Tamboura in 2013 yielded rock chips with grades of up to 6410ppm of lithium. The company says it has yet to see additional exploration in this area, despite the pulse-quickening results.

Rivergold later carried out reconnaissance work and discovered several pegmatite veins along the strike from the Altura sample area.

According to QX Resources, a recent review of its Western Shaw Project confirmed that the area was controlled by “nested granite plutons”, which are typically lithium-rich pegmatite dykes.

Following the acquisition, the company says it aims to launch a remote satellite interpretation of pegmatites inside the tenement area and in neighboring districts. The review will be followed by a boots-on-the-ground geological analysis and a sampling program to help White Cliffs understand the terrain and determine who it is working with on the project.

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White Cliffs made its first foray into the white-hot battery metal space late last year after completing the acquisition of two separate projects and the purchase of two junior explorers. As a result, the business acquired a portfolio of approximately 10 lithium and rare earth assets, bringing its total landmass to approximately 4000 square kilometers at the time.

The company has been making steady progress in its assets in recent months, launching a geochemical survey at its Hines Hill rare earth project and running a remote sensing program in addition to data reviews to complement its ongoing exploration work. Is.

Only a few weeks ago White Cliffs decided to land a pair of non-core nickel-cobalt projects in Western Australia, reinforcing its strategy to focus on its wholly owned battery metal projects.

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