Newly listed Australian Critical Minerals begins maiden exploration at flagship Cooletha Lithium Project in WA

Newly listed junior explorer Australian Critical Minerals (ASX:ACM) has begun a mapping and sampling program at its Cooletha Lithium Project in the Pilbara region of Western Australia. 

The company says this program will evaluate the ‘high-priority’ target area over an initial 10km of the 30km strike of outcropping pegmatite swarms. 

Australian Critical Minerals reports channel samples will be cut at surface using a diamond saw to provide ‘high-quality’ samples, with results expected to define ‘high-priority’ targets for future drilling programs. 

The company notes this program represents its maiden exploration activity following its listing on the Australian Securities Exchange (ASX) at the start of July.  

The company raised $5 million in an initial public offering (IPO) on 3 July 2023. It currently has a $8.7 million market capitalisation.

Australian Critical Minerals used State One Equities as the Lead Manager for the IPO.  

Speaking on the mapping and sampling programs, Australian Critical Minerals Managing Director Dean de Largie says: “Following our successful IPO this month, focus has turned immediately to undertaking systematic exploration across our portfolio of projects.

We are excited that our initial efforts as a listed company will be at the Cooletha Lithium Project in the Pilbara, a region that hosts a number of significant lithium mines and recent exploration successes. At Cooletha, we have already identified numerous targets across 10km of the 30km strike with the focus on the prospective spodumene-bearing pegmatites. 

With preparations completed for the three-week mapping and sampling program, we expect to significantly improve our data set and understanding of the underlying geological characteristics across our tenements”

With preparations completed for the three-week mapping and sampling program, we expect to significantly improve our data set and understanding of the underlying geological characteristics across our tenements. With results due later this quarter, this will enable us to plan our first drilling campaign at Cooletha later this year. Shortly after this program, we will commence drilling at the Rankin Dome Rare Earth Project at Southern Cross.” 

Australian Critical Minerals is an ASX-listed explorer and developer working to develop its flagship Cooletha Lithium project in the Pilbara region of Western Australia. 

The project comprises over 100km-square of lithium prospectivity with outcropping pegmatite swarms in the Pilbara lithium district and is situated south of ‘significant’ discoveries at Pilbara Minerals’ (ASX:PLS) Pilgangoora Lithium Project (223 million tonnes @ 1.25% Li2O) and Global Lithium Resources’ (ASX:GL1) Archer Lithium deposit at Marble Bar.

Write to Adam Drought at Mining.com.au

Images: Australian Critical Minerals Ltd
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.