https://www.miningweekly.com
BMG|Exploration|PROJECT|Resources
BMG|Exploration|PROJECT|Resources
bmg|exploration|project|resources

BMG acquires option over niobium/REE project

8th February 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

ASX-listed BMG Resources has acquired an exclusive option for a 90% interest in three exploration licences located in a region of Western Australia where niobium and rare earth element (REE) tenure is highly sought after.

The tenements under option – to be called BMG’s Dragon niobium-REE project – include ground that abuts the tenure for the West Arunta project of WA1 Resources, where it has made the world-class Luni niobium-REE discovery.

“We are very excited by the opportunity to acquire a large landholding in the West Arunta region, including ground immediately adjacent to WA1 Resources’ significant Luni discovery and also adjacent to global major Rio Tinto.

“Since listing on the ASX in February 2022 following an IPO of its shares at $0.20 a share, WA1 has been spectacularly rewarded for its exploration success at the West Arunta with its share price now at $10.006.

“The West Arunta is under-explored elephant country where exploration investments have potential to deliver remarkable returns for investors,” said BMG nonexecutive chairperson John Prineas.

The tenements comprise the granted E80/5873 and the applications for E80/5872 and E80/5896. The tenements cover a total area of 1 470 km2. A large, contiguous landholding in the West Arunta of this scale is rare and presents an opportunity for BMG to be a dominant player in the region.

BMG’s preliminary review of the tenements under option confirms that they are prospective for carbonatite-hosted niobium and other REE mineralisation.

Edited by Creamer Media Reporter

Comments

Latest Multimedia

Resources Watch
Resources Watch
21st February 2024

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (16/02/2024)
16th February 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.166 0.2s - 107pq - 2rq
Subscribe Now