Asra Minerals has announced that it has secured an exclusive option agreement for the acquisition of two lithium exploration projects, both situated in the highly prospective southern Yilgarn Craton area in the Goldfields region of Western Australia.
Under the acquisition agreement, Asra would own 70 per cent of the Lake Cowan project and 100 per cent of the Lake Johnston project.
These acquisitions would increase Asra’s tenement package in the Goldfields region to 1,134km², creating a new Southern Hub of projects to complement the company’s Northern Hub, located near Leonora.
Asra has commenced planning for exploration at the two lithium projects ahead of drilling, including field mapping, outcrop sampling, soil, airborne magnetic and ground electromagnetic surveys.
Asra’s Managing Director, Rob Longley, said that for the past year, Asra has been reviewing numerous critical minerals projects for exploration potential and these two lithium properties in the southern Yilgarn region show significant potential.
“This unique geological region has gained prominence as a globally renowned lithium hub, hosting numerous world-class lithium deposits and we’re excited to be a part of it,” Mr Longley said.
“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.
“This achievement became a reality due to the exceptional opportunity extended to us by our neighbours at the Mt Stirling Project. I thank them for supporting our vision as we strategically expand into the battery metals market.
“We look forward to embarking on the next phase of exploration in this highly prospective region of Western Australia.”
Featured image: Granite outcrop at the Lake Johnston Lithium Project. Image credit: Asra Minerals.
