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- Jadar Resources (JDR) is beginning field work at the Shaw River Project in the East Pilbara region of Western Australia
- The geology team has arrived on site and will now undertake geological mapping and sampling activities
- The aim of this is to determine the extent of the pegmatite outcrop and lithium, tin and tantalum potential for due diligence
- Jadar is up 6.25 per cent on the market with shares trading at 3.4 cents at 11:41 am AEST
Jadar Resources (JDR) has begun field work at the Shaw River Project in the East Pilbara region of Western Australia.
Shaw River lies 220 kilometres from Port Hedland and 70 kilometres from Marble Bar and consists of an exploration licence application covering 22 blocks.
The area reportedly has a strong history with successful mining of alluvial tin and tantalum as well as demonstrated potential for lithium and rare earth minerals.
Jadar is set to acquire an 80 per cent interest in the project after entering an agreement with Calatos to acquire a majority stake for consideration of $50,000 cash and $400,000 worth of shares.
Jadar expects the acquisition to be completed early next year.
The geology team has arrived on site to Shaw River and they will now undertake geological mapping and sampling activities.
The aim of this is to determine the extent of the pegmatite outcrop and lithium, tin and tantalum potential for due diligence.
Jadar is aiming to define targets for immediate drill testing once the exploration licence is granted.
This will be the first work undertaken within the project since the 1990s.
Executive Director Adrian Paul commented on the start of exploration work.
“I am excited to commence field work so soon after announcing the acquisition of the Shaw River Project. We have a highly experienced geologist on the ground and should be receiving some initial information shortly,” Mr Paul said.
“Once the tenement is granted, Jadar will be in a position to immediately commence more advance exploration work to define the full potential of lithium mineralisation within the project.”
Jadar was up 6.25 per cent on the market with shares trading at 3.4 cents at 11:41 am AEST.
