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Mt Monger expand battery package

22 April 2022 12:54
ASX: MTM

Mt Monger Resources haven increased its battery metal landholding to over 1600 square kilometres following the acquisition of a prospective critical minerals area on Western Australia’s southern coast.

The move comes just days after construction begins on a new rare earths plant in Kalgoorlie designed to place Western Australia at the centre of the critical minerals industry.

The company said the tenement is a likely continuation of the Lake Johnston greenstone belt – rich in lithium-bearing pegmatites.

“The new area remains surprisingly untested for lithium, graphite and rare earth, with little exploration for nickel sulphide targets now considered a high priority,” managing director Lachlan Reynolds said.

“The whole area is prospective for pegmatites and ionic clay-hosted rare earth element deposits.

“We now have an excellent opportunity to undertake a comprehensive search.”

The company will continue to work to expand the resource while moving toward production from core gold projects near Kalgoorlie and East Laverton.

MTM’s Australian Stock Exchange-listed share price was trading at 21c today (9.30 am UTC+ 8 hours).

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