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Be the first with the news that moves the market- Mt Monger Resources (MTM) secures a key area of ground at its Ravensthorpe project in Western Australia
- The company applied for a tenement located in the centre of the Young River prospect, which is over several known mineralised zones
- The area contains ultramafic rocks, which have been interpreted to be a continuation from the Lake Johnston greenstone belt
- It contains two high priority nickel sulphide areas, with ground that is prospective for lithium, graphite, and rare earth elements (REEs)
- Shares are trading 6.82 per cent lower at 20.5 cents each just before market close
Mt Monger Resources (MTM) has secured a key area of ground at its Ravensthorpe project in Western Australia.
The company applied for a tenement located in the centre of the Young River prospect, which is over several known mineralised zones.
The area contains ultramafic rocks, which have been interpreted to be a continuation from the Lake Johnston greenstone belt.
It contains two high priority nickel sulphide areas, with ground that is prospective for lithium, graphite, and rare earth elements (REEs). However, this type of mineralisation has been untested in previous exploration.
“We have recognised the whole area is prospective for lithium bearing pegmatites and ionic clay-hosted rare earth element deposits and we now have an excellent opportunity to undertake a comprehensive search for these deposits,” Managing Director Lachlan Reynolds said.
“We are now busy compiling the exploration information that is available for the new exploration licence application and the surrounding tenements and planning for fieldwork to confirm and extend the historical results from the area.”
Shares were trading 6.82 per cent lower at 20.5 cents each just before market close.
