Delta Lithium Limited (ASX:DLI) Expands Yinnetharra Project with Aston Acquisition
Acquisition Details
Delta Lithium Limited (ASX:DLI) has expanded its tenement footprint at the Yinnetharra Lithium and Tantalum Project by acquiring the Aston Project from Minerals 260 (ASX:MI6). The transaction includes the 100% purchase of fifteen tenements for a cash payment of $450k and a 1.5% NSR on any future production of Lithium, Cesium, Beryllium, Rubidium, or Tantalum.
Project Highlights
The acquisition adds approximately 1,750km² to the Yinnetharra Project, bringing Delta’s prospective package to over 3,100km². The Yinnetharra Mineral Resource Estimate currently stands at 21.9Mt @ 1.0% Li₂O and 39.4Mt @ 102ppm Ta₂O₅, enhancing the project’s prospectivity with its proximity to high-grade deposits.
Exploration Plans
Following the settlement, Delta will commence systematic geochemical sampling, mapping over priority areas, and geophysical surveys. Passive seismic surveys have identified deep water paleochannels, with a hydrogeological program planned to begin this year.
Executive Comments
Managing Director James Croser stated, “The tenure acquired from MI6 is an excellent strategic addition to our Yinnetharra Project and a significant bolt-on to our recent Mortimer Hills acquisition just a few weeks ago. Delta has strengthened our dominant position in this highly prospective Upper Gascoyne Region. Delta’s technical team will have access to over 1,700km² of new ground & the systems our team have developed over the last 2 year operating in this terrane positions us perfectly to now execute systematic exploration across this new prospective ground. The extra tenure provides immediate exploration targets with early stage LCT anomalies, which will be critical as we continue to advance mining studies towards feasibility with the aim of delineating reserve tonnes. Delta’s dominant position surrounding the Thirty-Three supersuite granites, which are thought to be the source for the Malinda and Jameson deposits, has been enhanced. We look forward to getting on the new ground and systematically expanding our search for lithium and tantalum mineralisation.”
Motley Fool contributor Kiarra Jackson 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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