MTM Crucial Metals Restricted (ASX:MTM) (MTM or the Firm) has entered right into a binding settlement to amass 100% of Flash Metals Pty Ltd (Flash), the useful proprietor of three key exploration licenses potential for niobium and uncommon earth components (REE) within the West Arunta area of Western Australia.
Highlights:
- MTM to amass 100% of Flash Metals Pty Ltd, the useful proprietor of three granted exploration licences in Western Australia’s West Arunta area, instantly adjoining to floor held by WA1 Assets (ASX:WA1) and Encounter Assets (ASX:ENR).
- Deal contains acquisition of the Mukinbudin Niobium-REE Venture, comprising 2 granted exploration licences situated 250km northeast of Perth within the South West Mineral Discipline of Western Australia.
- Flash additionally holds an choice to completely negotiate the rights to Flash Joule Heating know-how developed by Rice College in Houston, USA which has demonstrated the potential to deal with REE mineralisation and extra effectively recuperate important metals from important metal-rich recycling and waste streams.
Overlaying ~140km2, the granted West Arunta Niobium-REE licences are situated instantly adjoining to tenements held by WA1 Assets Restricted (ASX:WA1, $484m mkt. cap.) and Encounter Assets Restricted (ASX:ENR, $107m mkt. cap.), the place niobium-REE mineralised carbonatites have not too long ago been found:
The West Arunta area is considered one of Australia’s important steel exploration hotspots with over $60m in exploration expenditure collectively invested within the district by quite a few ASX firms together with Rio Tinto Restricted (JV with Tali Assets Pty Ltd) (ASX:RIO), CGN Assets Restricted (ASX:CGR), and IGO Restricted (ASX:IGO).
The Flash transaction additionally contains the acquisition of the Mukinbudin Niobium-REE Venture, comprising two exploration licences situated 250km northeast of Perth within the South West Mineral Discipline of Western Australia. The tenements which might be included within the Flash transaction comprising the West Arunta Niobium REE Venture (E/80/5858, E80/5874 and E80/5875) and the Mukinbudin Niobium-REE Venture (E70/6048 and E70/6359) are collectively, the WA REE Tenements (Appendix I).
Flash additionally has an choice (FJH Choice) to completely negotiate the licencing rights to an early-stage processing know-how for REE and treasured metals generally known as Flash Joule Heating (FJH), which has been developed by researchers at Rice College within the USA (see Rice College article at https://news.rice.edu/news/2022/rare- earth-elements-await-waste).
MTM Managing Director, Mr Lachlan Reynolds mentioned the Flash acquisition supplies the Firm with compelling exploration alternatives in keeping with its technique to find and develop important steel initiatives.
“We’re very excited to amass such potential floor within the West Arunta province, the place there is a chance to find new niobium-rare earth deposits in traditionally untested floor proper subsequent door to some rising mineralised carbonatite initiatives recognized by each WA1 Assets and Encounter Assets,” Mr Reynolds mentioned.
“Moreover, Flash Joule Heating has proven promise throughout check work for steel recycling and for remedy of waste resembling coal fly ash however we’re very eager to see what purposes it could have for treating uncommon earth mineralisation, the place a breakthrough might unlock immense worth from in any other case economically marginal deposits.”
Mr Reynolds mentioned the rapid focus at West Arunta is to finish heritage agreements with the native Native Title holders and proceed with a first-pass exploration program.
West Arunta Niobium REE Venture
Determine 1: The West Arunta Niobium-REE Venture includes three granted exploration licences in japanese central Western Australia, situated throughout the Gibson Desert about 130km west of the Northern Territory/ Western Australia border within the East Kimberley Mineral Discipline.
Historic exploration within the West Arunta WA REE tenement areas could be very restricted. There was no drilling on the bottom, nor have any systematic geochemical sampling or geophysical surveys been accomplished. The West Arunta area has traditionally been explored for gold and copper with reconnaissance airborne geophysics and restricted floor geophysical and geochemical surveys. The placement of the West Arunta WA REE Tenements and their proximity to tenements held by WA1 and Encounter are proven in Determine 1.
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