Australasian Metals Limited (ASX: A8G) is an Australian based exploration company with a clear strategy to explore and develop a pipeline of quality projects located within Australia. The Company’s objective is to maximise value to its shareholders through exploration, discovery and development or commercialisation of opportunities in battery and precious metals. This objective will be realised through the careful and systematic exploration of existing projects and through the critical review of new opportunities using stringent criteria in order to add additional projects from Tier 1 regions within the safe jurisdiction of Australia.
In addition to having a successful track record of exploration discovery the board has direct links to a number of industry downstream players in China and America. These links have been providing the company with excellent value when seeking off-take agreements like during a recent capital raising the company secured direct investment from Shandong Ruifu Lithium Industry Co Ltd and Tangshan Xinfeng (Hong Kong) Limited, two major buyers of spodumene.
The companies projects consist of the Mount Peake Lithium project and Barrow Creek Lithium project (NT), the Clermont/Capella and May Queen projects (QLD) and the Fairview project (WA).
The Mount Peake Lithium project is a greenfields project located in the Anningie Sn-Ta pegmatite field within the Northern Arunta pegmatite province approximately 200km north of Alice Springs and 250km south of Tennant Creek along the Stuart Highway in the Northern Territory. The project area is a known Lithium-Caesium-Tantalum pegmatite district in Central Northern Territory. Recent work conducted on this tenement was a broad based rock chip sampling program which returned high grade lithium mineralisation within outcropping pegmatites of 1.61% Li2O and 225 ppm Ta, 1.15% Li2O and 223ppm. Follow-up soil geochemical survey highlights several key areas of anomalism which are pending on drilling test.
The Clermont/Capella gold project lies within the Anakie Province of the Drummond Basin in Central Queensland, approximately 60 km by road north-west of the town of Emerald. The Company just finished a 2,500m RC drilling program with numerous high-grade intersections showing the potential of this high grade polymetallic epithermal system, resources modelling works are under the way.
* 03 February 2023 (AUD)
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