TNG has acquired the Sandover Lithium Project in the Northern Territory, strengthening the company’s growing investment in battery-related critical minerals.
TNG has secured two large exploration tenement packages, collectively known as the ‘Sandover Licences’, which cover areas considered highly prospective for lithium in pegmatites, just 50km south-east of the company’s Mount Peake Vanadium-Titanium-Iron Project.
The Sandover Lithium Project ground is considered to have high potential to host lithium-bearing pegmatites, as seen elsewhere in the Northern Arunta Pegmatite Province.
Covering a total area of 8,151km2 the project is comprised of two large exploration tenement packages and was acquired for $25,000 per granted licence from private local prospectors.
TNG Managing Director and Chief Executive Officer, Paul Burton, said the project represents an ‘exciting’ addition to the company’s lithium portfolio.
“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,” Mr Burton said.
“The area represents, in all likelihood, one of the last areas that is prospective for lithium in the Northern Territory.
“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.”
TNG intends to explore for lithium-bearing pegmatites using traditional rock chip and soil sampling methods in areas with outcrop or residual soils.
This will be augmented with state-of-the-art remote sensing exploration techniques in order to rapidly locate pegmatites at the surface and beneath thin sand cover.
TNG has engaged the services of Dr Mike Hussey, a world expert on spectral data interpretation and modelling, to commence with a spectral and National Oceanic and Atmospheric Administration (NOAA) imagery interpretation utilising ‘finger-printing’ of known exposed lithium bearing pegmatites.
Initial results are highly encouraging subject to field checking. As a result, TNG has extended its area of interest south and east of the predicted zone of pegmatites.
