From the 14 Feb announcement . Times have changed since Feb.
Norwest Minerals Limited (‘’Norwest’’ or ‘’the Company’’) (ASX: NWM) has entered into a bindingagreement to acquire four West Arunta tenements prospective for niobium and rare earth elements.
The360km² ground package includes tenements located immediately adjacent to tenements held by WA1Resources Limited (ASX: WA1, $484 m mkt. cap.) and Encounter Resources Limited (ASX: ENR, $107m mkt.cap.), where niobium-REE mineralised carbonatites have recently been discovered.
Norwest’s newly acquired ground package includes E80/5846 which is the closest tenement south of theWA1 Luni niobium discovery.
To the north, ELA80/5938 is strategically lodged between tenements heldby WA1 and Encounter. Tenements E80/5898 & E80/5899 are located west along strike of Norwest’s1560km² Arunta West project area where significant clay hosted REE mineralisation has been reported.
The West Arunta region is one of Australia’s critical metals ‘exploration hotspots’
IMO
NWM Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
