Bass Metals Acquires Millie’s Reward Lithium Project in Madagascar
Subiaco WA / December 12, 2017 / JMN Wire / Bass Metals Limited (ASX: “BSM”) (the “Company”) is pleased to announce it has completed a transaction for the acquisition of two permits and a Mineral Rights Agreement for a third permit, constituting the Millie’s Reward Project (the “Project”), located in Madagascar.
The Project is highly prospective for high-grade, shallow, lithium-in-spodumene mineralisation. The Board and Management of Bass are delighted with the outcome of negotiations to conclude this acquisition and see this as a key objective delivered for Bass’ corporate strategy.
- Bass Metals has finalized the acquisition of the highly prospective Millie’s Reward project, a potential high grade, pegmatite hosted, lithium-in-spodumene project, located in Madagascar.
- The Transaction consists of the acquisition of two contiguous permits and a Mineral Rights Agreement for a third permit covering the exploration and mining of lithium and associated economic minerals
- Bass is highly encouraged with fieldwork to date which has identified significant spodumene mineralization across an 8km strike length with up to 55 different pegmatite occurrences recorded, with consistent at surface mineralisation encountered with grades up to 7.08% Li2O1.
- Bass will immediately commence Phase 1 of a comprehensive exploration program with the objective of establishing priority drill targets.