NT lithium project tenement granted

Our exploration Investment, Ragusa Minerals (ASX:RAS), was granted a further tenement in the Northern Territory today.

The tenement is in the Wingate region south of Daly River, highlighted in yellow below:

The Daly River tenement is adjacent to a Lithium Plus tenement. Lithium Plus is currently capped at $62.5M.

The granting of today’s tenement gives RAS a total of six tenements in the NT “Supergroup” Lithium Project.

We see this as increasing RAS’s optionality when it comes to exploration in this area as it is part of the same geological setting that gave rise to Core Lithium (capped at $2BN).

RAS recently started drilling its NT lithium project — to get a full deep dive on what we expect out of that drilling read our latest RAS note.