A Canadian lithium company has commenced due diligence for its farm-into Macarthur Minerals (TSXV:MMS) lithium acreage at Ravensthorpe, Western Australia. Under the terms of the farm-in, the Canadian company is required to expend a minimum of A$2 million to earn a 51% interest in the lithium acreage at Ravensthorpe. The farm-in only relates to five percent (91 km 2 ) of Macarthur Minerals’ total Western Australia lithium acreage of 1,678 square kilometres.
David Taplin, President, CEO and Director of Macarthur commented:
“Macarthur Minerals is excited that the Canadian lithium company has commenced its due diligence for its farm-into Macarthur’s Ravensthorpe acreage. Macarthur’s acreage is in the vicinity of a recent lithium mineralisation discovery by another Australian lithium company for which pegmatite samples included assays up to 4.1% Li 2 O.” …
Source: Macarthur Minerals Finds Potential Farmee for Ravensthorpe – Investing News Network