Aldoro Resources granted lithium and rubidium prospective tenement near Mt Magnet; acquisition finalised
Proactive Investors
Published Dec 06, 2022 12:06
Updated Dec 06, 2022 13:31
Aldoro Resources granted lithium and rubidium prospective tenement near Mt Magnet; acquisition finalised
Aldoro Resources Ltd (ASX:ARN) has finalised a binding heads of agreement with Mining Equities Pty Ltd to acquire a 100% interest in the recently granted licence E58/571 near Mt Magnet in Western Australia.
Fairway exploration licence E58/571 is now granted allowing its transfer to Aldoro from Mining Equities to be completed.
Aldoro originally announced this acquisition on August 4, 2021, which was conditional on the tenement being granted.
Lithium and rubidium prospectivity
The tenement is 80 kilometres southeast of Mt Magnet, covering 9 square kilometres between existing Aldoro tenements.
The licence is a rare metals exploration project, hosted within an Archean layered mafic intrusion cut by multiple pegmatite dykes potentially prospective for lithium-tantalum-caesium (LTC) and rubidium mineralisation.
E58/571 permit lies strategically between Aldoro’s granted tenements E59/2431, E57/1017, and the interpreted pegmatite corridor.
About Aldoro Resources
Aldoro Resources is a mineral exploration and development company with a portfolio of lithium, rubidium and base metal projects within Western Australia.
The company’s flagship projects include the Wyemandoo lithium-rubidium-tungsten project and the Niobe lithium-rubidium-tantalum project but Aldoro is also developing the Narndee Igneous Complex, a series of tenements prospective for nickel-copper-platinum group element mineralisation.
Read more on Proactive Investors AU
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