Guess which ASX explorer is at the forefront of research collaborations and funding - Kalkine Media

Highlights

• Australasian Metals is actively pursuing potential lithium discoveries through advanced exploration projects in Australia.
• A8G is engaged in a research program with the CET at the University of WA, focusing on the Northern Arunta pegmatite province.
• The company has partnered with the CSIRO under the CSIRO Kick-Start Program for collaborative research efforts.
• A8G has successfully secured the CSIRO Kick-off grant twice along with R&D Tax Refund and NT Grant.
• The company has over AU$ 3.3 million cash in the bank.

Australasian Metals Limited (ASX: A8G) is actively advancing its lithium exploration endeavours in North Arunta, propelled by strategic partnerships and research & development (R&D) funding. Recognised for its dedicated focus on battery and precious metals, this ASX-listed company, with over 274.3km² of tenements, is actively engaged in cutting-edge research and innovation.

At the forefront of Australasian Metals' strategic ventures is the Mt Peake Lithium Project, strategically located to the south of the Anningie TinTantalum-Pegmatite fields in the Arunta Region of the Northern Territory. This 100%-owned project holds immense significance for the company, given the region’s recognised potential for hard rock lithium mineralisation.

In October 2023, A8G initiated the first diamond drill campaign at the project. The campaign has been wrapped up within the stipulated timeframe and budget. Samples collected from the program are currently undergoing testing at ALS Global in Perth.

Around 100km to the northeast of the Mt Peake Project is the company’s 90%-owned Barrow Creek Lithium Project. Across multiple tenements, historical Ta-Sn mineral occurrence records have been reported and pegmatite rocks have been mapped by former explorers and government geologists. A8G plans to conduct a RAB drilling program at the site as it has received AAPA certificate for the same. Approvals for the Mining Management Plan are in process.

Image source: Company

Close collaborations with research institutions

Australasian Metals has forged robust relationships with esteemed research institutions, showcasing its commitment to advancing scientific understanding in the field.

• Joint research program with CET

In November 2022, Australasian Metals initiated a joint research program with the Centre for Exploration Targeting (CET) at the University of Western Australia (UWA). Focused on the Northern Arunta pegmatite province in the Northern Territory, the program aims to delineate a litho-chemical mineralisation framework for rare metal pegmatites in the region.

Image source: Company

• Successful collaboration with CSIRO

A8G has partnered with the Commonwealth Scientific and Industrial Research Organisation (CSIRO) under the CSIRO Kick-Start Program. This collaboration centres on researching “Lithium (Li) Exploration in the Mt Peake Pegmatite Field” at Mt Peake.

Through this program, A8G has gained access to the optical, thermal, and geophysical remote sensing data analysis and interpretation workflows, as well as instrumental equipment to identify potential key features of Li-bearing pegmatites.

As part of this collaborative effort, CSIRO aims to develop the PRISMA-derived mineral maps targeting mafic minerals. The objective is to compare these maps with aeromagnetic and gravity data in order to enhance the mapping accuracy of mafic country rocks in the Mt Peake and Barrow Creek areas.

• Capital infusion through CSIRO program, R&D Tax Refund and NT Grant

Australasian Metals has successfully secured the CSIRO Kick-off grant twice, each amounting to AU$ 50,000.

In the December 2023 quarter, A8G received a noteworthy tax refund of AU$218,442, as a refundable tax offset for research & development expenses incurred at the Mt Peake Project in FY22-23. This followed a previous grant of AU$254,000 in 2023 for R&D expenses in FY21-22 at the same project.

Additionally, the company has secured AU$43,299 under the Resource the Territory initiative of the government of Northern Territory.

In essence, Australasian Metals has not only demonstrated a commitment to cutting-edge lithium exploration but has also strategically aligned itself with renowned research institutions, fostering innovative collaborations. Its focus on the Mt Peake and Barrow Creek lithium projects, coupled with successful partnerships with the University of WA's CET and CSIRO, underscores the company’s dedication to advancing scientific knowledge in the field. With substantial capital infusion through grants and tax refunds, the company stands at the forefront of the evolving landscape of lithium exploration.

A8G shares traded at AU$0.066 apiece in the early trading hours on 4 March 2024, up over 8% from the last close.