LITHIUM Australia (ASX: LIT), Australian Vanadium (ASX: AVL) and private company Mercator Metals will collectively explore for nickel, copper and platinum group elements (PGE) along the Coates Mafic Intrusive Complex, 55km northeast of Perth, WA.
Their tenements, which adjoin each other on the complex, have a combined area of 59sqkm and are known as the Coates project.
The complex is about 29km southwest of recent significant discoveries of nickel, copper and PGE by Chalice Gold Mines (ASX: CHN) at the Julimar project.
Lithium Australia managing director Adrian Griffin said Chalice’s recent significant discoveries highlighted the potential of the region.
“[There is] potential for additional discoveries in similar geological environments, and the Coates Mafic Intrusion, being so close, provides a tremendous opportunity,” Mr Griffin said.
Australian Vanadium managing director Vincent Algar said there is now a lot of interest in the Western Yilgarn region.
“The strategic alliance announced today is intended to streamline exploration processes through seamless and efficient use of personnel and capital,” Mt Algar said.
PGE is among the rarest metals on earth and include ruthenium, rhodium, palladium, osmium, iridium and platinum.
All are high in value, with elevated melting points, superior corrosion resistance and catalytic qualities.