This comes as the company focuses on cobalt, a key new-generation battery ingredient, in New South Wales and Queensland.
Shares were up 40% in early trade to 1.4 cents with 30 million traded before 1pm.
Ausmon’s wholly-owned subsidiary New Base Metals Pty Ltd has been granted the licences, EL 8745 and EL 8746, for six years by the NSW Government Planning and Environment Department.
A third exploration licence, ELA 5639, which forms part of the existing Broken Hill project should be granted soon under usual procedures.
ELAs 5637 and 5638 have been granted as ELs 8745 and 8746, and are near Cobalt Blue’s EL6622.
The company recently announced its acquisition of New Base Metals, which held the Broken Hill as well as the Greenvale Cobalt-Nickel Project in Queensland.
Accessing Broken Hill core library
While waiting for the grant of ELA 5639, the company has engaged a consultant geologist to access the Broken Hill Geological Core Library.
This is being done to assess diamond core from historical drilling within the ELA 5639 area to plan a re-logging and assaying for cobalt.
Previous explorers did not assess the drilling results for cobalt.
Results from this work are expected to assist in refining exploration programs.
Airborne survey planned
An airborne survey is also planned to delineate any prospective cobaltiferous pyrite horizons on ELA 5639 for drilling when the tenement is granted.
Recent exploration has demonstrated that the Broken Hill region is highly prospective for pyritiferous cobalt deposits as well as stratabound cobalt deposits.
The JV partners have also recently announced a partnership with multi-national conglomerate LG International.
Queensland work programs approved
Ausmon this week received approval from the Queensland Government Department of Natural Resources and Mines for work programs proposed at the Greenvale Cobalt-Nickel Project.
The project covers about 276 square kilometres and is 20-50 kilometres from Australian Mines Limited’s (ASX:AUZ) Sconi project, reportedly the most advanced cobalt project in Australia.
Approval of the work programs is a significant step in the approval process of the exploration permit.
It provides a level of assurance which enables Ausmon to finalise project planning and be ready to commence exploration activities as soon as possible after grant.