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Highlights
- Kali Metals expands its Marble Bar Project by acquiring new tenements
- Gold-in-soil anomaly trend increases by 80% to 9.5km
- Strategic acquisition strengthens position in a high-potential gold region
Kali Metals (ASX:KM1) has taken a significant step in expanding its footprint in Western Australia’s Pilbara region with the acquisition of key tenements E45/6429 and E45/6430. The company secured this land through a binding agreement with Florance Resources Pty Ltd, increasing its Marble Bar Project area by 19 square kilometers.
This expansion enhances Kali Metals' gold-in-soil anomaly trend by 80%, extending it from 5.1km to 9.5km. The newly acquired land is located adjacent to the company’s 100%-owned Marble Bar Gold-Lithium Project, providing greater exploration opportunities in one of Australia’s most promising gold regions.
Strengthening Exploration Potential
The Marble Bar Project already features two promising prospects—Sherman and Tiger, both of which have shown surface gold mineralization. The presence of gold-bearing quartz veins, some measuring up to 7 meters in width and 120 meters in length, has reinforced confidence in the area’s potential. Initial exploration has revealed surface grades of up to 4.0 grams per tonne (g/t) of gold, with further mapping and drilling planned to uncover additional resources.
The company has so far mapped only 10% of the newly extended 9km anomaly, indicating that much of the project's gold potential remains untapped. With gold prices hitting record highs, the increased landholding provides greater opportunities to explore and define new gold targets.
Acquisition Details
Under the terms of the transaction, Kali Metals will acquire 100% of Florance Resources Pty Ltd, gaining full ownership of the newly acquired tenements. The agreement involves a $30,000 cash component and $200,000 worth of ordinary shares, valued based on a five-day volume-weighted average price (VWAP) before execution.
Future Exploration Outlook
With an expanded land position and promising initial results, Kali Metals aims to advance exploration efforts at Marble Bar. The increased gold footprint enhances the company’s ability to define potential drilling targets and further develop the region’s mineral prospects.
Pilbara continues to attract significant interest from exploration companies due to its rich gold deposits and growing investment in the sector. The latest acquisition places Kali Metals in a strong position to capitalize on the area’s potential, reinforcing its commitment to unlocking new opportunities in Western Australia’s gold landscape.
