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Future Battery Minerals (ASX:FBM) has today picked up an exclusive six-month option to buy 100% ownership in all mineral interests across the Randalls Project in an $800,000 agreement with Miramar Resources (ASX:M2R).
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This content has been prepared as part of a partnership with Future Battery Minerals Ltd and is intended for informational purposes only.
Randalls encompasses six tenements, 65 kilometres east of Kalgoorlie, including one already granted an exploration licence, and five EL Applications.
The tenure covers as much as 620sqkm of “highly prospective” Archaen greenstone, sediments, banded iron formations, and “key regional structures prospective for orogenic gold” – all selling points for Future Battery.
“The scale of exploration opportunity is genuinely exciting,” said CEO Nick Rathjen. “I look forward to providing further details of the historical data when compiled.”
“The potential strategic expansion of our tenure holdings across the Eastern Western Australia Goldfields delivers us enhanced exploration leverage combined with clear operating synergies with our Coolgardie Gold and Lithium Project,” he continued. “It also delivers us greater opportunity to build on the proven gold targeting success already delivered at Miriam [recently].”
Under the deal, which comprises $800K in cash, shares, and milestone payments, Future Battery has until Q2 2026 to exercise the Randall buy-up offer.
Upon activation, Future Battery will settle with a $125K deposit as well as $125K sent in shares and a 1% net smelter royalty. The explorer has already paid a (non-refundable) $50K option fee to secure the six-month deal.
Once Future Battery lands a JORC-compliant Mineral Resource of at least 25,000 ounces of gold exceeding one gram per tonne, it will be on the hook for another $250K payment. One final trance of the same figure would be due to Miramar once the explorer lands 500,000 ounces under similar conditions.
FBM will open on Tuesday at 4.5cps. M2R has been 0.4cps.
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