Australian battery minerals explorer Firetail Resources has completed a farm-in agreement with SensOre, through its joint venture subsidiary Exploration Ventures AI (EXAI), to hunt for lithium at the Yalgoo project, in Western Australia.
EXAI could earn up to 80% of the lithium rights on tenement E59/E2252 by spending A$3.5-million in two stages. Additional considerations of up to A$600 000 will be due on the delivery of a maiden mineral resource estimate and prefeasibility study.
Under the terms of the agreement, SensOre will provide Firetail access to its proprietary AI technology across the Yalgoo and Dalgaranga lithium projects.
SensSore has identified lithium/caesium/tantalum mineralisation with the use of its technology. The partners will now work together to confirm lithium exploration targets in the region.
"The approach and subsequent deal with SensOre, validates our understanding of the region and the potential for a lithium discovery in this region. The agreement with SensOre enables the FTL team to continue to concentrate efforts on the current targets identified, whilst simultaneously unlocking the potential of the other tenements in the region,” said executive chairperson Brett Grovenor.
Further, Firetail has an initial drill programme under way at the Picha copper project, in Peru.