Lanthanein Resources Limited (ASX: LNR) has entered into a farm-in agreement to earn up to a 70% interest in the Lady Grey Lithium-Tantalum Project, located approximately 365km east of Perth. This highly prospective LCT pegmatite project is situated 400m west of the Earl Grey Lithium Mine.
The Lady Grey Project is located in the proven world-class Forrestania Greenstone Belt, host to Covalent Lithium’s (SQM & Wesfarmers) Earl Grey Mine, 189Mt @1.53% Li2O. The project spans approximately 77km² with ~18km of strike.
Mr Brian Thomas, technical director of Lanthanein, commented: “This transaction positions Lanthanein with a prospective lithium project in one of the most desired jurisdictions for lithium explorers in Western Australia. With credit to Lanthanein’s management team, the Company has managed to secure the rights to earn up to a 70% interest over ~77km2 of prospective ground, immediately adjacent to one of the largest operating lithium mines in Western Australia. Plans for evaluation and field work will commence immediately to assess potential for lithium pegmatites and I look forward to undertaking discovery focussed drill programs earmarked for early 2024.”
The Company plans to undertake a project-wide evaluation of lithium hosting pegmatite potential with a drilling program planned for February-March 2024.
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