Energy & Critical Metals
Lycaon expands land in West Arunta on its hunt for niobium
Special Report: Niobium and REE explorer Lycaeon Resources has expanded its Stansmore project in the prolific critical minerals province of … Read More
The…
Niobium and REE explorer Lycaeon Resources has expanded its Stansmore project in the prolific critical minerals province of West Arunta in northeast WA.
Lycaon Resources’s (ASX:LYN) Stansmore tenement package now covers over 173km2 following the granting of the E80/5867 and E80/5868 licenses.
Land access negotiations are progressing with the company agreeing to commercial terms for consideration and endorsement by the Parna Ngururrpa board of directors in October.
Lycaon’s decision to pursue Stansmore lies in its prospectivity for highly-sought after niobium – crucial for battery components and our clean energy transition.
The West Arunta province has recent significant REE discoveries including WA1 Resources’ (ASX:WA1) West Arunta and Encounter Resources’ (ASX:ENR) Aileron projects.
Stansmore includes a 700m long magnetic feature, which the company’s describes as the most interesting magnetic anomalies outside of those present at the nearby projects.
Lycaon technical director Thomas Langley says West Arunta is one of the last frontiers for major discoveries in Australia.
“It is pleasing to have all our West Arunta tenement applications proceed to granted status, another positive step towards exploration programs commencing early next year,” Langley said.
“The identification of rare earth mineralisation associated with carbonatite intrusions by WA1 and ENR nearby in their first ever drill programs, signifies the extremely prospective and underexplored nature of the West Arunta.
“Furthermore, the results by SGC support our strong belief that the Stansmore magnetic target has the potential to host Nb-REE mineralisation, and encouragingly identified multiple new targets adjacent to Stansmore.”
This article was developed in collaboration with Lycaon Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
The post Lycaon expands land in West Arunta on its hunt for niobium appeared first on Stockhead.
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