Advised completion of the exploration review at its Spargos project in Western Australia.

Neometals  concludes that the ESGB has a low chance for Lithium-Caesium-Tantalum pegmatite prospectivity, and given the current market conditions for lithium, further Spargos exploration activities have been placed on hold pending a strategic review.

Neometals Ltd (ASX / AIM / NMT)  advises completion of the exploration review at its Spargos project in Western Australia.

Notwithstanding a focus on the Eastern side of the Mt Ida greenstone belt (ESGB), it was interpreted that the undercover and unexplored Western greenstone belt (WGB) is however potentially prospective for lithium.

As it relates to the ESGB, review of the reprocessed imagery, assay results and whole rock geochemistry allowed Neometals to conclude that the ESGB has a low chance for Lithium-Caesium-Tantalum pegmatite prospectivity.

Given the current market conditions for both nickel and lithium, further Spargos exploration activities have been placed on hold pending a strategic review.

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds no shares in Neometals.

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