ASX-listed White Cliff Minerals looks set to bludgeon its way into the white-hot critical metals industry after completing the acquisition of two separate projects whilst advancing the pending acquisition of two junior explorers. As a result, the company may soon find itself with 10 additional lithium and rare earth element, or REE projects on its books with its landholding poised to balloon by over 4000 square kilometres.
The fruit of the company’s labour will see it claim ownership of a highly prospective set of lithium and REE projects across WA and add another string to its traditional precious and base metal bow.
The company’s project applications include its acquisition of the Diemals lithium and REE project, located about 185km north of Southern Cross and the Yinnetharra lithium and REE project. The latter sits about 100km northeast of Gascoyne Junction and interestingly, the world-class Yangibana rare earths project lies a mere 85km away.
The Diemals and Yinnetharra lithium and REE projects, together boast a land package in excess of 3,000 square kilometres.
As part of White Cliff’s recent recruitment drive, the company is also seeking to acquire the Magnet Resource Company and Preston River, a junior explorer that holds a single lithium project in its stables.
Magnet Resource’s eight-piece project puzzle includes the Injuni Hills, Weedarra, Wabli Creek, Sandy Creek, Gardner Range, Rat Hill and Hines Hill projects.
White Cliff’s capture of Preston will see it claim ownership of the Preston River lithium project that stretches across a 145.7 square kilometres zone. The prominent neighbourhood is likely one of the key motives that drew the attention of White Cliff with the project intriguingly located some 30km from the world renown Greenbushes lithium project. Notably, it seems to sit on similar geological ground.
Elsewhere, at the Diemals lithium and REE project, previous geochemical sampling by CSIRO has unearthed cerium responses grading up to 160 parts per million and the company says the project could host geology similar to that of Nimy Resources Mons nickel project.
White Cliff Minerals Technical Director, Edward Mead said: “The proposed acquisition of Magnet and Preston River is complementary to the Company’s own tenement applications and validates White Cliff’s internal project generation, which targeted the right geological terrane, large land packages, and limited historical exploration.
“We believe that the Company has an emerging project portfolio for critical metals, which is targeting the world’s transition to net zero carbon by the middle of the century.”
Outside of its recent work in the critical metals space the White Cliff also has collected a handful of highly prospective gold, cobalt-nickel and gold, copper and platinum group element projects across a suite of tier 1 mining jurisdictions in Australia and New Zealand.
The scale of White Cliff’s recent exploits appears to be a brazen step into the critical metals market. It has simultaneously punched out its landholdings some 4,000 square kilometres across some highly prospective ground. While just about every other explorer looks to be dipping into the now in-vogue lithium market, these latest acquisitions suggest White Cliff has taken more of a cannon-ball approach.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
