Australian Vanadium Ltd, Lithium Australia NL and Mercator Metals Pty Ltd agree to collaborate to advance exploration for nickel, base metals, gold and platinum group minerals.
KEY POINTS
- Lithium Australia NL (ASX:LIT) and Mercator Metals Pty Ltd hold adjoining tenements to AVL’s Coates Project.
- Combined contiguous tenement package covers 59km2 covering the entire Coates Mafic Intrusive Complex.
- Letter of Understanding signed by the three parties which envisages attracting a senior partner for the project.
- Tenements open to either joint venture development or combined sale.
- The Coates Project vanadium deposit is located on a southern extension of the mafic-ultramafic sequence, host to the recent nickel-copper-platinum group elements (PGE) discovery at Julimar project by Chalice Gold Mines (ASX:CHN).
Strategic Alliance Formed to Explore the Coates Mafic Intrusion for Nickel Sulphides
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