Metals Australia (ASX:MLS) Advances Projects with New Approvals
Metals Australia Ltd (ASX:MLS) has announced significant progress in its Australian asset portfolio, with clear strategies for 2025 reflecting the outcomes of a rigorous review conducted throughout 2024.
Warrego East and Manindi Project Developments
The company has successfully established a land access agreement for the Warrego East Project. Fieldwork, including drilling, is set to commence in 2025, following the rainy season. The project is located near the historically significant Warrego Mine, known for producing substantial copper and gold. Recent regional interest was fueled by Pan African Resources PLC’s acquisition of a neighbouring mining group.
Additionally, Metals Australia has started metallurgical test work on its high-grade Manindi Titanium-Vanadium-Iron project, analysing 125 kg of core samples. The tests aim to confirm the technical and commercial viability of producing titanium dioxide, vanadium, and magnetite concentrates.
Zinc-Copper-Silver Resource Review
The Manindi Zinc-Copper-Silver Project, with a current JORC Mineral Resource Estimate of 1.08 million tonnes, has been reinvigorated due to rising metal prices. The ongoing review focuses on extending the resource, and the proximity of the high-grade Ti-V-Fe project presents synergetic opportunities for combined project efficiencies.
Exploration and Results from Warambie
Results from the Warambie drilling program indicate low-level nickel and cobalt mineralisation. However, due to current nickel prices, the company has decided to pause further exploration in this area to concentrate on more promising projects.
CEO Paul Ferguson commented, “Metals Australia has had a very busy 2024 with strong progress across our Canadian and Australian projects. As we move into 2025, our focus will remain on delivering value for shareholders through rigorous project evaluation and strategic advancements.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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