2nd Jun 2016 07:32
LONDON (Alliance News) - Rare Earth Minerals PLC on Thursday said Macarthur Minerals Ltd, in which Rare Earth holds a 16% stake, will undertake further reconnaissance of its 17 exploration licence applications in Pilbara, Western Australia.
The investment company said the second reconnaissance programme will include further sampling of pegmatites identified in the first heliborne reconnaissance programme, and heliborne reconnaissance of Pilbara acreage not covered in the initial heliborne reconnaissance programme.
Macarthur intends to identify high-grade lithium priority exploration targets for drilling following the grant of applications.
Shares in Rare Earth were trading up 0.7% at 0.524 pence on Thursday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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