Hannans Ltd (ASX:HNR) has created what it believes is a major ground position prospective for lithium mineralisation at its Forrestania project located approximately 125kms south of Southern Cross, Western Australia.
Hannans’ wholly owned subsidiary Reed Exploration Pty Ltd is the registered holder and applicant for the tenements and owns 100% of all mineral rights, excluding gold where it owns a 20% free-carried interest only (in the existing tenure only).
The company intends to undertake ground truthing of geophysical anomalies, mapping of the geology and a desktop environmental survey will also be initiated in January 2018.
Hannans said it is aiming to build a comprehensive understanding of the potential of the new tenure to enable a systematic geochemical sampling programme to commence as soon as the tenements are granted5, and government approvals obtained.
Subscribe to The Pick
Get your Free Copy of THE PICK - Australia's Premier Resources Sector Investment Magazine - direct to your inbox...
A detailed airborne geophysical survey will be completed over the new tenure in January 2018 with the aim of accurately defining the margin of the eastern granite.
Accurately mapping the margin of the granite intrusion is considered important because approximately 4km from the margin appears to be the distance necessary to allow for cooling of the pegmatites sourced from the granite, and for differential crystallization of exotic minerals including important lithium minerals.
Hannans is being assisted in its understanding of the global lithium market and lithium exploration methodology by its major shareholder, leading Australian specialty minerals company Neometals Ltd.
The new tenure comprises three tenement applications and covers an area of ~260 square kilometres.
