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MegaWatt appoints geos amid optimistic battery market

25 June 2021 11:52
Periodic table detail for the element neodymium. Image uses an altered public domain periodic table as the source document. Part of a series covering all the elements

MegaWatt Lithium and Battery Metals Corp has appointed geological consultants Elmore Limited to lead its timely development of battery mineral targets in the Artic Fox and Isbjorn properties in Australia’s Northern Territory.

The company said today it had verified prospective rare earth elements, especially neodymium and praseodymium, and uranium oxide mineralisation near the world-class Nolans Bore rare earth project, set for commissioning mid-2022.

The Canadian-listed explorer is upbeat on future demand for rare earths and uranium, pointing to recent reports by Adamas Intelligence and Canaccord Genuity forecasting a “favourable” economic outlook for battery minerals.

“We are very encouraged by the macro outlook for REEs and uranium, which explains the Board’s decision to appoint Elmore as our Northern Territory geology consultancy,” chief executive David Thornley-Hall said.

“Our goal from this exploration campaign is to cover as much ground as possible and then identify suitable targets to test drill.”

MegaWatt is a British Columbia-based company focused on acquiring and exploring mineral properties crucial to the electric vehicle market.

The company, which holds eight mineral claims in Canada, has significantly expanded its exploration footprint, recently acquiring mining tenements in Australia’s Northern Territory and New South Wales.

Elmore expects its team of four geologists to have completed geological mapping and sampling in 8-10 days, with results used to potentially formulate targets for test-drilling and further follow up development work.

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