PERTH (miningweekly.com) – Base metals explorer Venturex Resources is weighing the potential for lithium discoveries at its Sulphur Springs tenements in Western Australia, after Canada’s MacArthur Minerals applied for exploration licences nearby to hunt for hard rock lithium mineralisation.
Venturex told shareholders on Tuesday that MacArthur was targeting mineralisation near the company’s own Sulphur Springs copper-zinc project, adding that one of the applications directly overlaid a miscellaneous licence held by Venturex for its haul road for the Sulphur Springs project, and abutted one of the Sulphur Springs mining leases.
MacArthur Minerals was reportedly hoping to find lithium mineralisation similar to those that host the Pilgangoora lithium-tantalum project, being developed by ASX-listed Altura Mining.
Venturex has advised MacArthur Minerals that it would not object to approval of the exploration licence.
The ASX-listed junior said on Tuesday that the company was not currently aware of any lithium mineralisation on its own tenements and had decided to undertake a review of the lithium potential of the Sulphur Springs tenements.
This review would initially include a desktop review of available historical data and was expected to be complete by the end of June 2016.
“While Venturex remains focused on its base metal projects at Whim Creek and Sulphur Springs, the company believes the lithium potential at Sulphur Springs to be worthy of further investigation given its proximity to the emerging East Pilbara lithium province and the current high level of market interest in lithium exploration,” said Venturex.