Skip to content
Finance Investment, Oil Mining Resources

Moab Minerals (ASX: MOM) Moab Acquires ~15% Equity Interest in Highly Prospective Ghanian Lithium Projects

Moab Minerals Limited (ASX: MOM) 2 mins read

HIGHLIGHTS:

  • 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”.


About us:

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. 


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

Media

More from this category

  • Business Company News, Oil Mining Resources
  • 25/06/2024
  • 19:09
Jane Morgan Management

Broad Zones of Heavy Mineral Sands Discovered at Capel Project

ASX-listed Pinnacle Minerals Ltd (ASX:PIM) is excited to announce the significant discovery of broad and shallow zones of heavy mineral (HM) mineralisation at the Capel Mineral Sands Project in Western Australia. The latest infill and extension drilling, which tested historical wide-spaced drilling by Iluka, has revealed an interpreted strike length of up to three kilometers. HIGHLIGHTS: Broad and Shallow Mineralisation: Infill and extension drilling has intercepted broad and shallow zones of HM mineralisation over an interpreted trend of up to three kilometers. Assay Results: The first batch of heavy mineral assays from 26 holes has been received, with notable results…

  • Energy, Oil Mining Resources
  • 25/06/2024
  • 15:55
Mining and Energy Union

Long-overdue report shows CS Energy dropped the ball on safety at Callide: MEU

Adraft report released todayinto the May 2021 explosion that tore through Callide power station’s C4 Unit exposes a culture of poor risk management by operator CS Energy, the Mining and Energy Union said today. MEU Queensland President Mitch Hughes said Callide workers deserved an explanation of what had gone wrong as they worked towards returning the damaged unit to service next month, but the report’s publication was long-overdue. “Publication of this report at last provides some transparency and insight into what has occurred, and we look forward to reviewing it in detail,” said Mr Hughes. “It illustrates how extreme the…

  • Finance Investment
  • 24/06/2024
  • 20:37
Hut 8 Corp.

Hut 8 Announces $150 Million Strategic Investment from Coatue to Partner in Building Next Generation AI Infrastructure Platform

Funding will accelerate growth in Hut 8’s data center portfolioReinforces Hut 8’s position as a market leader in sourcing, developing, and operating energy infrastructureMIAMI, June 24, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, today announced that it has entered into a definitive agreement with a fund managed by Coatue Management, L.L.C. (“Coatue”) pursuant to which Coatue has agreed to invest $150 million into the Company through a convertible note (the “Note”).“We are committed to supporting…

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.