ACQUISITION OF LITHIUM PROJECT TO COMPLEMENT COBALT RESOURCE
ASX RELEASE (18/12/17)
ACQUISITION OF LITHIUM PROJECT TO COMPLEMENT COBALT RESOURCE
• 100% interest in nine (9) prospective tenements acquired in the Northern Arunta Pegmatite Province, Northern Territory and applications made for four (4) adjoining tenements • Prospective for lithium and strategic metals, Li-Cs-Ta, REE (La-Ce)-Y-Nb and Co, used in the production of electric vehicles
• Acquisition is complimentary to the Wollogorang Cobalt Project and allows exploration during the wet season; geological mapping and rock chip sampling at the Arunta Project will commence early in 2018
• Resource upgrade at Stanton Cobalt Deposit in Q1 2018 and scoping study commencing January 2018
Chairman Len Dean said “This new project acquisition in central Australia aligns to the Company’s strategy to pursue commodities essential to the renewable energy future of the planet. These are primarily lithium and cobalt which are in high demand for modern batteries. Furthermore, Northern Cobalt is in an excellent position heading in 2018 with a resource upgrade planned at our advanced Wollogorang Cobalt Project which will then form the basis of early scoping studies. I am very pleased to see such rapid progress after successfully listing only 12 weeks ago on the ASX”.
