MTM is acquiring 100% of 3 granted exploration licences in Western Australia’s West Arunta region.
Immediately adjacent to ground held by WA1 Resources (ASX:WA1) and Encounter Resources (ASXX:ENR).
Prospective for niobium and rare earth elements
Project Overview
The West Arunta Project covers 140km2 and is located immediately adjacent to tenements held by WA1 Resources Limited.
MTM Critical Metals Limited (ASX:MTM) (MTM or the Company) has entered into a binding agreement to acquire 100% of Flash Metals Pty Ltd (Flash), the beneficial owner of three key exploration licenses prospective for niobium and rare earth elements (REE) in the West Arunta region of Western Australia.
Covering ~140km2, the granted West Arunta Niobium-REE licenses are located immediately adjacent to tenements held by WA1 Resources Limited (ASX:WA1) and Encounter Resources Limited (ASX:ENR), where niobium-REE mineralised carbonatites have recently been discovered and are being developed.
The West Arunta region is one of Australia’s critical metal exploration hotspots with over $60m in exploration expenditure collectively invested in the district by a number of ASX companies including Rio Tinto Limited (JV with Tali Resources Pty Ltd) (ASX:RIO), CGN Resources Limited (ASX:CGR), and IGO Limited (ASX:IGO).
Figure 1: West Arunta Project location diagram.