The group now holds over 700 km2 of exploration tenements strategically located on very prospective Ida Fault.
SINGAPORE, July 17, 2024 /PRNewswire-PRWeb/ -- Greta Minerals PTE Ltd, part of the Greta Group – a Singapore based company has successfully acquired Lithium and REE (Rare Earth Elements) exploration assets in Western Australia. This marks a significant milestone in Greta Groups' growth strategy, enhancing its portfolio and expanding its operational footprint in Australia. They now hold over 700 km2 of exploration tenements strategically located on very prospective Ida Fault, with a focus on the exploration of Lithium and REE assets.
The acquisition was facilitated through the partnership with Mr. Tan, acclaimed for his appearances on the popular show Aussie Gold Hunters. He will be a director in Greta Minerals, bringing his extensive expertise and industry knowledge to the company, further strengthening its position and capabilities.
Strategic Importance of the Tenements Package:
The tenements package in Western Australia is located in the prolific "Lithium Corridor." This area links major mining projects, including Mount Marion Lithium Mine, Red Dirt's Mt Ida, St Georges Mt Alexander Project, and Liontown's new Kathleen Valley mine. The Geological Survey of Western Australia (GSWA) and the Minerals Research Institute of Western Australia (MRIWA) have identified the Ida Fault as a significant geological structure. It channels large-scale hydrothermal fluids responsible for the formation of potential multi-million-ounce gold deposits.
Recent discoveries, such as Kidman Resources' 189Mt Mount Holland lithium pegmatite deposit (sold for A$776M), the 156Mt Kathleen Valley discovery by Liontown Resources (Mkt Cap A$2.21B), and the 308Mt discovery by Pilbara Minerals (Mkt Cap A$9.03B), underscore the potential for additional large lithium finds in the Western Australian "Lithium Corridor." The lithium-rich pegmatites, such as those at Mount Marion south of Kalgoorlie, are genetically related to late-stage granitic intrusions, which also occur within the Ida Fault Project Area and Greta Minerals' tenements. These areas are prospective hosts for major mineral deposits, particularly Lithium, REE and Gold.
Statements:
Commenting on the occasion, Mr Nitesh Chaudhari, Chairman of the Greta Group, said: "We are happy to complete the acquisition and this marks a pivotal moment for Greta Group as we expand our footprint in Australia's rich mineral landscape. By broadening our asset portfolio, this acquisition enhances our capabilities in the highly lucrative sectors of Lithium, REE & Gold."
Mr Rajshekhar Kudupali, the Managing Director of Greta Minerals PTE Ltd noted: "Western Australia is regarded as the number one mining jurisdiction in the world. The acquired tenements are strategically located along the Ida Fault, a significant geological structure that divides the Youanmi and Kalgoorlie terranes in Western Australia's Eastern Goldfields. The proximity to Kalgoorlie, underscores the importance of our assets. The tenements feature lithium-rich pegmatites and late-stage granitic intrusions similar to those at Mount Marion, indicating a strong potential for significant lithium and gold deposits. Our focus will be on driving forward with exploration and maintaining our commitment to responsible mining practices, ensuring long-term benefits for our company and the communities we operate in."
About Greta Group: https://gretagroup.com/
Greta Minerals PTE Ltd, part of the Greta Group, is headquartered in Singapore. Owned by NRI Mr Nitesh Chaudhari, Greta Group has built a notable presence in various industries, including trading (ferrous and non-ferrous metals), agriculture, mining, and power generation. Greta Minerals aims to explore and develop mineral resource assets, with a strong commitment to innovation, sustainability, and excellence.
Media Contact
Rajshekhar Kudupali, Greta Minerals PTE Ltd, 65 62230152, [email protected] , https://gretagroup.com/
SOURCE Greta Minerals PTE Ltd
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