- Asra’s new projects put it at the heart of a globally renowned lithium hub, complementing its rare earth, critical mineral and gold assets
- The projects are surrounded by proven lithium and nickel deposits such as Maggie Hays, Bald Hill and Earl Grey
- Exploration is already underway at both Lake Johnston and Lake Cowan
Asra Minerals has inked a deal to acquire two highly-prospective lithium projects in WA’s Goldfields region — in an area hosting numerous world class deposits — to add to its gold and critical minerals portfolio.
Under the deal, Asra Minerals (ASX:ASR) would acquire 70% of the Lake Cowan and 100% of the Lake Johnston projects, both in the highly prospective southern Yilgarn Craton.
The acquisitions will increase Asra’s tenure in the Goldfields to 1,134sqkm, creating a new ‘Southern Hub’ of projects to complement the company’s ‘Northern Hub’ near Leonora.
“For the past year, Asra has been reviewing numerous critical minerals projects for exploration potential and these two outstanding lithium properties in the southern Yilgarn region show significant potential,” Asra MD Rob Longley says.
“This acquisition will complement our rare earth, critical minerals and gold projects at Leonora, reinforcing our position as an upcoming provider of high-demand minerals for the rapidly growing renewables market.”
Asra has begun planning for exploration at both lithium projects ahead of drilling, with field work to include mapping, outcrop sampling, soil, airborne magnetic and ground electromagnetic surveys.
Covering 166km2 and ~20km in length is the Lake Cowan project, right in the middle of a highly prospective LCT pegmatite region.
It lies north of Liontown Resources’ (ASX:LTR) Buldania lithium project and just 10km south of the Bald Hill lithium mine – recently pegged for a takeover by mining major MinRes (ASX:MIN) after it lobbed a bid to administrators for the project.
Asra already has boots on the ground conducting geological mapping and sampling.
The Lake Johnston lithium project covers 410km2 and consists of three exploration licences near the historic Maggie Hays nickel mine in the southern part of the Archean Yilgarn Craton within the Dundas mineral field.
Asra has pegged Lake Johnston for detailed lithium exploration as it lies in fertile geological ground for LCT pegmatites such as Covalent Lithium’s nearby Earl Grey deposit to the west and Charger Metals’ (ASX:CHR) Medcalf lithium project to the south.
Significant test work is almost complete at Asra’s clay-hosted Yttria rare earths deposit, part of its Mt Stirling project north of Leonora at the explorer’s Northern Hub.
Two shallow deposits, Wishbone and Yttria, have shown grades of up to 2,714 parts per million (ppm) total rare earth oxides and 22% magnet REEs — some of the best quality rare earths deposits in clays, says Asra.
The project also hosts 10 gold deposits with a resource of 152,000oz Au and is also prospective for cobalt and scandium.
Also part of the Northern Hub is Asra’s Kookynie West – a largely underexplored area that shows the potential for gold, lithium and REEs.
Elsewhere, Asra has equity in Loyal Lithium (ASX:LLI), which recently raised $5m to advance its Canadian hard rock lithium projects Trieste and Hidden Lake; and is in a JV in the Goldfields with Zuleika Gold (ASX:ZAG).
“These lithium exploration projects ticked the three evaluation boxes of geology, jurisdiction and infrastructure,” Longley told Stockhead.
“By adding significant lithium tenure to our existing clay-hosted rare earths footprint, we have increased the critical minerals content of Asra, which gives us an exciting project portfolio to work hard, here in Western Australia.”
This article was developed in collaboration with Asra Minerals, 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 One of Asra Minerals’ new lithium projects is just down the road from the Bald Hill mine appeared first on Stockhead.
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