- Ragusa Minerals (RAS) is granted a new tenement within its Northern Territory lithium project, 60 kilometres south of Darwin
- The tenement, adjacent to the Lithium Plus project and nearby to Core Lithium’s (CXO) Finnis project, has been granted for six years
- Ragusa says it will now engage with key stakeholders in the project area to launch exploration works
- It plans to target outcropping pegmatite rocks and potential buried targets using geochemical sampling, the extrapolation of known and outcropping targets, and remote sensing
- Shares in Ragusa Minerals last traded at 24.5 cents each on September 19
Ragusa Minerals (RAS) has been granted a new tenement within its Northern Territory lithium project, 60 kilometres south of Darwin.
The tenement lies adjacent to the Lithium Plus project and nearby to Core Lithium’s (CXO) Finnis project and has been granted for six years.
Ragusa said it believed this area was highly prospective for lithium based on historical mapping and the neighbouring lithium projects.
The company will now engage with key stakeholders in the project area to launch exploration works.
It initially plans to target outcropping pegmatite rocks and potential buried targets using geochemical sampling, the extrapolation of known and outcropping targets, and remote sensing.
Following this process, RAS will develop a detailed lithium program to conduct exploration and drilling work in the tenement area.
Ragusa Chairman Jerko Zuvela said the NT lithium project now contained five granted tenements.
“This is another very positive milestone that puts Ragusa in a strong position to rapidly accelerate the development of our project within a proven high-quality lithium district,” he said.
“We have a significant opportunity to utilise our exploration and development experience to rapidly progress our NT lithium project and realise the massive upside value potential in a Tier One jurisdiction close to major infrastructure at a time of record lithium prices.”
Shares in Ragusa Minerals last traded at 24.5 cents each on September 19.