Kidman Resources has expanded its Earl Grey Lithium Project with the acquisition of two neighbouring tenements from Eastern Areas Ltd.
Kidman described the acquisition as ‘highly strategic’, saying the Earl Grey pegmatite extents into at least one of these tenements which also cover key infrastructure such as haul roads and the nearby air strip that are likely to be utilised in the future development of the Earl Grey Deposit.
The company’s Managing Director Martin Donohue said the two acquired licences will provide the most suitable location for haul roads, the proposed Earl Grey waste dump and for an enlarged ROM pad site for a stand-alone processing plant at Mr Holland.
“We see this transaction as an exceptional deal for both companies, which creates value for Kidman on several levels,” Mr Donohue stated.
“This additional ground has the potential to expand the Earl Grey Resource, based on preliminary drilling by Western Areas, which show that the pegmatite continues into this area and the deposit potentially remains open to the east. In addition, the expanded ground position will provide us with far greater flexibility to adopt the most optimal site layout for Earl Grey development.”
According to Kidman’s ASX statement, the two parties are also in advanced discussions regarding a potential farm-in joint venture agreement in respect of the lithium rights on Western Areas remaining northern Forrestania tenements.