Mitre Mining is set to acquire 100 per cent of Bellpark Minerals, the owner of the East Pilbara and Mount Alexander lithium projects.
The East Pilbara project in the Pilbara region of Western Australia lies in an area which is a world class lithium province. It has known pegmatite outcropping and high priority untested lithium stream sediment anomalies.
Mount Alexander is located in the Mt Ida lithium district of WA and has had little historic exploration.
Mitre Mining chief executive officer Clinton Carey said the Bellpark acquisition was a
reflection of the company’s work to develop and acquire rare earths, gold and lithium assets as part of the strategy outlined in its initial public offering prospectus.
“We remain committed to development of our current tenements in New South Wales while continuing to find quality assets to enhance our exploration portfolio,” he said.
Experienced exploration and corporate finance executive Ray Shorrocks will join the Mitre
Board.
A placement of about $1.2 million will be issued to support exploration of the acquired projects.