Sign up Australia
Proactive Investors - Run By Investors For Investors

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

View full NMT profile View Profile

Neometals Ltd Timeline

Related Articles

Gold bullion
March 12 2018
An expanded prefeasibility study has confirmed the potential to generate annual production of 200,000 ounces at Matilda-Wiluna.
May 23 2018
Chaarat's bold bid for the Kumtor mine is the first of many potential deals
August 04 2018
The company has an extensive portfolio of exploration projects in Nevada and Utah

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use