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Oar Resources granted for Denchi Lithium

23 November 2022 11:20
ASX: OAR

Oar Resources have finalised the tenement grants for Denchi Lithium, weeks after agreeing to acquire the highly prospective project in Western Australia’s Northern Goldfields.

It greenlights aggressive exploration over the coming months, moving on bringing about a maiden campaign for the first quarter of 2023.

Lying 120 kilometres from the Kathleen Valley deposit and its 1.4 per cent lithium oxide average 156Mt estimate, initial reconnaissance over Denchi has already confirmed several outcropping targets prospective for the lucrative LCT pegmatites found at the world’s most eminent deposits.

And the field team are back on site, ready to begin systematic exploration across three tenements to expand knowledge of known pegmatites and spot up new targets, with preliminary work pointing towards numerous pegmatites broadly mapped as granites.

Already making rapid progress, the company said was pleasing to have been able to mobilise its field team so soon after agreeing to terms.

“Historic sampling and our own initial exploration work have already demonstrated the project is prospective for our targeted minerals and we look forward to making rapid progress as OAR repositions to focus on building its critical minerals portfolio,” chief executive Paul Stephen said.

OAR’s Australian Stock Exchange-listed share price was trading at 0.5c today (11.12 am UTC+ 8 hours).

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