Australian resource company TNG Limited has acquired a new lithium exploration package, the Sandover Lithium Project, to further strengthen its growth pipeline in battery-related and future-facing strategic minerals.
Located near its 100%-owned Mount PeakeVanadium-Titanium-Iron Project in the Northern Territory, the Sandover Lithium Project forms part of the Northern Arunta Pegmatite Province and is considered highly-prospective for lithium-bearing pegmatites.
TNG Managing Director & CEO, Paul Burton, said the Sandover Lithium Project represents a potentially strategic growth opportunity that would complement the Company’s long-term critical minerals growth strategy.
“We are very pleased to have secured this highly prospective area for shareholders, which represents an exciting and logical addition to our flagship Mount Peake deposit. The area represents, in all likelihood, one of the last areas that is prospective for lithium in the Northern Territory,” Mr Burton said.
“While we remain fully focused on developing the Mount Peake Vanadium-Titanium-Iron Project, we want to continue to build up our growth portfolio in battery-related and future strategic metals.
“The global energy transformation and the move to Electric Vehicles will see a structural increase in the consumption of metals such as lithium and vanadium. We want to be positioned to take advantage of this surge in demand for both elements.”
