Stratum Metals Limted (SXT) has entered into agreements to acquire a 100% interest in four metals projects in the Yilgarn Region of Western Australia (Yilgarn Projects):
• the Gidgee Project in the East Murchison region,
• the Pinyalling Project in the South Murchison region,
• the Bannockburn Nickel Project in the Wildara area south-southeast of Leinster, and
• the Laverton Project in the vicinity of the township of Laverton in the Eastern Goldfields of Western Australia.
These Yilgarn Projects are focused on regions prospective for gold, copper and/or nickel mineralisation. Recent geophysical interpretation of the Yilgarn Projects has provided new insights and highlighted the potential of the tenements that may have previously gone unrecognised.
In addition to the Yilgarn Projects, Stratum Metals has entered into agreements with State Resources Pty Ltd to acquire and earn an interest within the coal prospective Canning Basin, Western Australia.
The Company has the right to acquire 100% of exploration licence applications E04/2124 and E04/2125 (subject to grant of the exploration licence applications to State Resources).
Stratum Metals has also entered into an option agreement to farm-in up to 80% of exploration licence application E04/1993 (subject to grant of the exploration licence application to State Resources and to Stratum Metals meeting minimum expenditure on the tenement).
Following completion of tenement acquisitions, Stratum Metals' tenement portfolio will consist of a 100% interest in six granted exploration licences, and subject to the grant of applications 100% interest in two further exploration licences and, subject to both grant and meeting expenditure commitments, up to an 80% interest in a further third exploration licence.