saidMarch 31 that it has applied for an additional exploration license in theEastern Pilbara region of Western Australia, expanding the size of itsexploration license application to 1,084 square kilometers.
Thecompany's applications comprise of the largest potential tenement packages forhard rock lithium for a junior exploration company. This application is consistentwith the company's focus on exploration of raw materials for the production oflithium-ion batteries.
The newPilbara exploration license covers an area of 138 square kilometers andcontains similar geological settings to the Pilgangoora lithium-tantalumpegmatite deposits, which host the lithium projects of ASX-listed companiesPilbara Minerals Ltd.and Altura Mining Ltd.
MacarthurMinerals will, with the assistance of CSA Global, initially undertakegeological reconnaissance to locate outcropping pegmatites. The company'sstrategy is to acquire a large tenement package targeting pegmatite host rocksequences across different locations to ensure there is a high probability ofdiscovering pegmatites hosting lithium-bearing spodumene, the company said.
MacarthurMinerals now holds 11 exploration license applications covering parts of thePilgangoora district, the Eastern Pilbara and the mid-west region of WesternAustralia. Owing to the company's large tenement package, it said that it mayseek to joint venture some of its tenements to accelerate the explorationprogram.
The companyhas been looking to acquire lithium and graphite projects and has for several explorationlicenses in Western Australia.