- Moab has invested in 3 Ghanian lithium projects covered by 6 prospecting license applications for a total of 730km2 .
- Exploration potential identified from preliminary geological and geophysical studies and known pegmatite occurrences.
- Projects located adjacent to coastal highway both 100km away between major cities of Accra and Takoradi with a major port at Takoradi.
- A program of 20,000m of auger drilling has commenced.
- CPS Capital acted as Corporate Advisor to the transaction.
Moab Minerals Limited (ASX: MOM) (Moab or the Company) is pleased to announce that the Company has acquired an initial 14.64% interest in CAA Mining Limited (CAA Mining), an exploration and development company focused on lithium and gold exploration in Ghana, Africa.
The investment has enabled the Company to acquire an interest in 3 projects that are complementary to its existing assets and expand its business as a junior exploration company and providing shareholders with investment exposure to lithium. The Board considers that the investment is an appropriate strategic investment given CAA Mining’s interest in lithium projects in Ghana.
Moab Managing Director, Malcom Day commented: “Following significant due diligence, we are very pleased to announce the investment in such high-potential lithium projects in Ghana. The Board believes the investment is an excellent strategic fit for Moab and will add short and long term value for Moab shareholders”.
Moab Minerals Limited (ASX:MOM) is an exploration and project development company. The Company is currently focused on the exploration and development of the REX Uranium-Vanadium Project located in the famed Uravan Mineral Belt of Colorado. The project is 60% owned by Moab and contains many historic uranium mines including, Blackfoot/Rattlesnake, Wedge, Merry Widow, Sunbeam and Vanadium King that have not been subject to exploration since the 1970’s, other than initial sampling by MOM. The Company aims to further explore REX through a targeted exploration program.