Macarthur Minerals Limited, in which REM owns an approximate 15.5% shareholding, has announced that it has applied for five additional exploration licences in the Pilbara region of Western Australia to expand its total tenement area to 1,379 sq km (341,000 acres) for ‘hard rock’ lithium, now across 19 exploration licences. The expansion of Macarthur Minerals’ acreage package is consistent with its focus on exploration of raw materials for the production of lithium batteries. The full text of the Macarthur Minerals announcement is shown below.
— The five new Pilbara exploration licence applications cover an area of 185 sq km (45,000 acres).
— Macarthur Minerals continues to expand its acreage and has one of the largest acreages for ‘hard rock’ lithium of any junior exploration company globally and is one of a few TSX-V listed companies to have potential projects for lithium in Australia.
— Macarthur Minerals is currently evaluating its acreage and commencing discussions with various third parties concerning potential joint ventures to maximise the exploration effort throughout 2016.
Kiran Morzaria, Chief Executive Officer of REM, commented: “As a significant shareholder in Macarthur Minerals we very much welcome Macarthur Minerals’ expansion of acreage for ‘hard rock’ lithium exploration and are excited by the potential and growth of the project.”
