PERTH (miningweekly.com) – ASX-listed junior Liontown Resources has acquired a second lithium/tantalum exploration project, this time in the Northern Territory.
Liontown on Thursday revealed that it would acquire the Bynoe project from privately held Orema for an initial signing fee of A$10 000 in cash, and a A$100 000 cash payment at any time within 19 months of executing the agreement.
The acquisition of Bynoe comes just months after Liontown acquired the Mohanga lithium project, in Tanzania, with the company telling shareholders this week that the Bynoe acquisition would complement the Mohanga purchase.
The Bynoe project comprised two separate exploration licences covering a total area of 80 km2, and it was located in close proximity to significant transport infrastructure.
Liontown noted that although previous exploration work at the tenement area had focused on tin and tantalum, lithium minerals had been reported at several prospects in the immediate area, including the Picketts prospect within the option area.
No location or assay data had been provided in the report that described the lithium occurrences.