Mt Monger Resources Limited (MTM) has been granted three licenses to explore ground prospective for rare earth elements, gold and nickel in the northern part of its promising East Laverton project in Western Australia’s north-eastern Goldfields.
MTM, which has entered into a farm-in and joint venture agreement with Tevel Pty Ltd to explore the three granted areas, can acquire up to 75 per cent stake in the tenements which collectively account for a large chunk of its Point Kidman prospect.
The news comes amid a promising outlook for gold and even more so for battery metals and less than a week after the company appointed KTE Mining Services to complete highly-anticipated drilling at the company’s Mt Monger project near Kalgoorlie.
The granted tenements form only a part of MTM’s East Laverton project area. The company noted that aircore drilling is scheduled at the Seahorse prospect to the southeast and that a further eight licences covering the remainder of the area are expected to be granted by WA’s Department of Mines Industry Regulation and Safety in due course.
The company’s Australian Stock Exchange listed shares had risen 5.17 per cent today, trading at 18c (11:47 GMT +8 hours).