Element 25 (ASX:E25) has received confirmation that an application by privately held Cacique Resources seeking the forfeiture of an exploration licence at the company’s Lake Johnston Lithium Project in Western Australia has been dismissed.
The $69.27 million market capitalised company was notified from legal counsel that the Perth Mining Warden had agreed to dismiss the application with no orders to cost.
Under the Western Australian Mining Act, forfeiture applications can be lodged if the current holder has been negligent in maintaining their exploration expenditure.
Element 25 says the matter has now been resolved.
The Lake Johnston Project is 500km east of Perth and is considered prospective for lithium. The project’s prospects occur in a corridor along the southern and western margin of the Lake Johnston granite batholith.
Element 25 is a mineral explorer focused on its wholly owned Butcherbird Manganese Project in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
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