Northern Cobalt has been granted Ministerial approval for the transfer of 100% interest in nice prospective tenements in the Northern Arunta Pegmatite Province, Northern Territory, Australia.
|Image Source: Northern Cobalt|
The tenements are prospective for lithium and other strategic metals used in the production of electric vehicles.
Northern Cobalt's Managing Director, Michael Schwarz said "These new hard rock lithium targets in central Australia are also prospective for other strategic metals used in electric vehicles such as the permanent magnets in electric motors and wind generators, typically, lithium-caesium-tantalum pegmatites and associated rare earth elements and niobium can be found in the project area.
Ultramafic copper-cobalt (Cu-Co) mineralisation has also been identified in the region, which further enhances the attractiveness of this prospective package."
The Company will be pursuing mapping, soils, and rock chipping to work up drill targets over the coming months as it sees this project to be complementary to the advanced Wollogorang Cobalt Project further to the north.