Mt Monger Resources have executed two binding agreements to acquire a suite of lithium tenements, forming a major multi-commodity battery project in Western Australia’s highly prospective Ravensthorpe district.
The trio of projects and eight granted exploration licenses cover a thousand-square-kilometre zone, include historic lithium over a four-kilometre strike, and hold additional potential for coveted nickel-copper-cobalt-PGE graphite and gold.
Strategically adjacent to a bevy of successful battery metal and gold projects, the nest between Esperance, Ravensthorpe and Jerramungup boasts excellent infrastructure and technical services.
The company said the opportunity provides an imminent pathway to expand into a critical region of Western Australia.
“There are world-class deposits of commodities that are in high demand and essential for EV batteries and the accelerating, global decarbonisation effort…the project strongly complements our existing portfolio of gold, REE and base metal projects,” managing director Lachlan Reynolds said.
“We are currently expanding our technical team so a dedicated exploration effort can be directed toward this exciting multi-commodity battery metals project, and we look forward to providing results to shareholders in due course.”
Next for the company is follow-up drilling at several high-priority exploration targets, geophysical surveys, and auger sampling to identify additional areas for exploration.
MTM’s Australian Stock Exchange-listed price has risen over 29.41 per cent today, trading at 22c (11:19 am UTC+8 hours)