Join our daily newsletter At The Bell to receive exclusive market insights
- Askari Metals (AS2) completes the acquisition of the Hillside lithium project in Western Australia
- The project holds significant potential for lithium, tin, and tantalum mineralisation
- Askari secured the purchase via more than 737,000 shares and a net smelted royalty of one per cent on all minerals produced from the ground
- An initial reconnaissance sampling campaign of the outcropping pegmatites across the project is now underway, ahead of its next phase of exploration
- Askari Metals is up 1.64 per cent, trading at 31 cents at market close
Askari Metals (AS2) has acquired the Hillside lithium project in the Tambourah lithium district of Western Australia.
The company finalised its purchase of Greenstone Lithium’s 60-square-kilometre tenement after acquiring 100 per cent of the issued capital in the company.
The deal saw Askari hand over more than 737,000 shares and a net smelted royalty of one per cent on all minerals produced from the ground.
Considered highly prospective for lithium, tin, and tantalum mineralisation, and increases its footprint in emerging Eastern Pilbara region to 2300 square kilometres. Previous exploration efforts identified extensive pegmatites, which have been drill tested and returned promising results.
“We recently sent a team into the field at the Hillside lithium project and look forward to keeping our shareholders and investors informed as we receive results from the recent field program,” Askari Executive Director Gino D’Anna said.
This acquisition aligns with Askari Metals’ long-term strategy of capitalising on the growing demand for lithium, a critical component in sustainable energy solutions.
The company has now mobilised a team from Terra Search to complete an initial reconnaissance sampling campaign of the outcropping pegmatites across the project, ahead of its next phase of exploration.
AS2 was up 1.64 per cent, trading at 31 cents at market close.
