High-Tech Metals (ASX:HTM) has secured a ‘highly prospective’ lithium licence in Ethiopia, which will form the foundation of its new Ketele Lithium-Caesium-Tantalum (LCT) Project.
This grant provides the battery metals-focused explorer with exclusive access to explore new, undrilled tenure, offering ‘significant’ potential to further enhance Ketele, which sits 400km southwest of Addis Ababa.
High-Tech plans to compile data and desktop studies and conduct geological and geochemical surveys for the initial year of exploration at Ketele, which it says has already started.
Further, the company intends to identify the potential LCT mineralisation in the area and investigate and define the potential extent of pegmatite bodies hosting spodumene.
High-Tech Metals Executive Director Sonu Cheema says the company continues to progress its critical battery minerals focus through this project grant.
“The company has commenced a program of works to realise the exploration potential of the newly granted licence through geological mapping, geochemical surveys, and rock chip sampling.”
Ketele — which covers a 42km-square area — is underlain by metamorphic rocks of the southern Ethiopian shield and ‘large’ regional faults known to focus the intrusion of pegmatites elsewhere.
Historical reports indicate the presence of pegmatites in the project area, which will be a main focus of the first phase of exploration work currently underway.
High-Tech Metals is an ASX-listed explorer and developer focused on its flagship Werner Lake Cobalt Project in north-western Ontario, Canada.
As of 30 September 2023, the company had about $2.636 million cash at hand and no debt, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: High-Tech Metals
