An emerging producer of industrial mineral concentrates, with a major flagship graphite project, has announced that it is set to acquire a highly prospective high-grade lithium project in central Madagascar.
Bass Metals Ltd has completed the acquisition of two permits and a Mineral Rights Agreement for a third permit, which covers the Millie’s Reward Project located in Madagascar.
The acquisition complements Bass’ presence in Madagascar due to its already operating flagship Graphmada Care project. Bass Metals Ltd aims to become a leading producer and supplier of industrial minerals concentrates.
Millie’s Reward is a highly prospective conventional spodumene hosted lithium deposit located in Madagascar. A majority of the visible pegmatitic dykes and sills within the permits are over 10 metres in thickness, with swells in areas of up to 40 metres in thickness, while being up to several hundred metres in length.
Base Metals CEO, Mr Tim McManus said: “The acquisition of Millie’s Reward is consistent with Bass’ strategy to leverage its in-country producer status in Madagascar to appraise further opportunities in this highly prospective and stable jurisdiction.
The team at Bass Metals is pleased to have finalized this transaction and plan to commencing Phase 1 exploration immediately, having already received Board approval. The team is truly excited to have the opportunity to explore such a remarkable virgin discovery.”