Altura Mining (ASX: AJM) has a diversified portfolio of projects including coal in Indonesia, a DSO iron ore project in the Pilbara and lithium in Western Australia.
Altura Mining (ASX: AJM) is targeting more lithium after entering into an exploration option agreement with Atlas Iron (ASX: AGO) and Shaw River Resources (ASX: SRR).
The area covered by the option allows Altura the rights to the lithium enriched pegmatites whilst preserving the retained rights of Atlas and Shaw River over iron ore and base / precious metals respectively.
Altura is very pleased to have secured the lithium rights with the process streamlined through its established relationship with Atlas via the Mt Webber DSO Project.
This new area is strategically located adjacent to the tenement where Altura is currently drilling for lithium.
Altura has two years to exercise the option.
In March, Altura undertook mapping and sampling of outcropping pegmatites with the consent of both Atlas and Shaw River.
Altura identified an initial target area and conducted a limited reverse circulation drill program as part of the company’s adjacent exploration activity.
Sampling results from the drill program are expected soon alongside other results from the current drill program at Pilgangoora.
The project is located 90 kilometres to the south of Port Hedland and is within 20 kilometres to railway, a highway and the town of Wodgina, Western Australia.