13/01/2025
📍Blesberg Expansion with Acceptance of New Prospecting Right Application;
⚒️ is pleased to confirm that its wholly owned South African subsidiary Southern African Lithium and Tantalum Mining (Pty) Limited's ("SALT") application for a new prospecting right ("'New Prospecting Right") adjoining both the Blesberg Lithium and Tantalum Mine ("Blesberg" or the "Project") and Northern Cape Lithium and Tungsten (Pty) Limited ("NCLT") Project has been accepted by the South African Department of Mineral Resources and Energy ("DMRE").
1️⃣ The New Prospecting Right extends over an area of 7,219 hectares, and borders ’s existing Blesberg Prospecting Right and Mining Permit on its eastern, western and southern license boundaries. It is contiguous to and immediately south of the NCLT Project Prospecting Right.
2️⃣ When combined with the Blesberg 1,051 hectare license area and 15,000 hectare license area of the NCLT Project, the Company now holds over 23,270 hectares of mining and exploration approved licensed area in the Namaqualand District of the Northern Cape Province in South Africa that is highly prospective for multiple battery and critical metals mining opportunities.
3️⃣ The approval process of the New Prospecting Right by the DMRE is underway and will be made within 197 days of the lodgement of the application, which was made in Q4 2024. As part of this process, the Company now has to complete consultations with the local landowners in line with Regulation 41(2) and Section24J of the National Environmental Management Act 1998 and also lodge its application in terms of the National Water Act No. 36 to the Department of Water Affairs. The Company will look to complete this work in the current quarter. Exploration activities on the New Prospecting Rights can only commence once this process is completed by both the Company and DMRE
