While its Red Rabbit JV progresses the Kiziltepe mine towards first production in H216, Ariana Resources (LON:ARNR) has made strides towards involvement in the burgeoning lithium exploration space.
A deal has been completed between its 86%-owned Australian subsidiary Asgard Metals, Slipstream Resources Investments and ASX-listed junior Dakota Minerals, with the latter looking to develop a number of lithium-tantalum bearing tenements in the Pilbara region of Western Australia.
Although at the greenfield stage, the specific area in question (Pilgangoora) is currently operated on by a small group of junior miners (including Dakota), which are valued on an in-situ resource basis at approximately 2x the global average. This is perhaps an indication of value attributed to the relatively high grade of the deposits, but perhaps also due to the tantalum resource content, a much publicized conflict mineral.
Funding complete to tackle phase 1 exploration
Dakota recently completed a total A$3.6m in funding, which will be used to undertake grassroots exploration (including structural mapping of the tenements) and drilling, with a maiden resource targeted for H216.
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