Lithium projects applied for in the Northern Territory

Yesterday, RAS announced that it had successfully applied for three exploration licences prospective for lithium next door to Core Lithium (capped at $1.8 billion) in the Northern Territory, AUS.

The exploration licence applications sit next door to Core Lithium's Finnis hard rock lithium project which has a JORC resource of ~15 million tonnes (Mt) at 1.3% lithium oxide.

RAS’s grounds sit on similar geological structures which adds another project into the RAS stable with neurology to much bigger companies, although given the project is made up of exploration licence applications it is still far too early to tell what RAS has on its hands.

The acquisition sits outside of our 2022 Investment Memo which is focussed on RAS’s WA hallyosite project and its Alaskan gold project.

We will however be watching to see if the lithium project throws up any interesting exploration targets, and we are pretty happy with the concept given how hot the lithium market is and how well Core Lithium has performed.