Accelerate Resources (ASX:AX8) has confirmed Aboriginal heritage and ethnographic surveys will be carried out in mid-April 2024 at its Prinsep Lithium Project in Western Australia.
The surveys will provide clearances to conduct drilling and other exploration activities over the spodumene-bearing northern and southern pegmatite trends. Drilling is expected to begin as soon as approvals for the surveys` and program of works are received.
Accelerate, which has a market capitalisation of $24.39 million, is conducting final preparations to begin a maiden drill program at Prinsep. A base of operations has been established in Karratha and contracts for services are being finalised.
Prinsep is a drill-ready exploration project located 15km south of Karratha and 35km west of Azure Minerals’ (ASX:AZS) Andover lithium discovery that is currently subject to a $1.7 billion takeover offer from SQM and Hancock Prospecting.
The project forms part of Accelerate’s broader Karratha Lithium Project that covers a 90km2 area within the Karratha-Roebourne hard rock lithium belt.
Accelerate Resources is an emerging Perth-based explorer focused on discovering and developing critical minerals and gold assets in Western Australia.
As of 31 December 2023, the company had about $2.89 million in cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Accelerate Resources
