logo-loader
viewNeometals Ltd

Neometals supports Hannans’ lithium gold and nickel exploration strategy

A lithium discovery could have synergistic benefits for Neometals.

Lithium – State of Play in the South West
The state of play for lithium in the southwest of Western Australia

Neometals Ltd (ASX:NMT) is the major shareholder of Hannans Ltd (ASX:HNR) with a 36% holding and supports its development of lithium,  nickel and gold assets in Western Australia.

Of focus is its Forrestania / Mt Holland project, in an area known globally as hosting a world-class nickel sulphide camp, gold mine and one of the largest hard rock lithium deposits globally.

Mt Holland East is the highest priority target

Hannans exploration goal at Mt Holland is to discover a lithium deposit comparable to the globally significant Earl Grey and or a 1+ million ounce gold deposit comparable to Bounty.

Mt Holland East has been identified as the area most likely to host a major lithium and or gold deposit.

Hannans is working towards commencing the first phase of shallow auger drilling to test for lithium and gold at Mt Holland East.

Mt Holland West targeting lithium

The Mt Holland West Project was acquired in September 2016 and has had three phases of geochemistry drilling completed on it to date.

The project covers the western margin of the potential source granite to the pegmatites hosting the Earl Grey lithium mineralisation.

The fourth phase of drilling is planned in June-July.

Forrestania Nickel target

The area is also a world-class nickel sulphide province thanks to the discovery by Western Areas Ltd (ASX:WSA), Australia’s second-largest nickel sulphide miner.

Hannans has postponed its joint venture process and engaged Newexco Services to complete a review of it’s the Forrestania Nickel prospect.

WATCH: Neometals Ltd looking to move downstream towards lithium chemical production

Quick facts: Neometals Ltd

Price: 0.21 AUD

ASX:NMT
Market: ASX
Market Cap: $114.35 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Neometals Ltd named herein, including the promotion by the Company of Neometals Ltd in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Neometals secures lithium offtake and potential feedstock from Mt Marion...

Neometals Ltd (ASX:NMT) managing director Chris Reed updates Proactive Investors on the lithium developer’s recent divestment of its Mt Marion Lithium Project for $103.8 million.   As part of the sale agreement, Neometals has secured a binding life-of-mine annual offtake option...

on 27/3/19

2 min read