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.
Western
Australia is regarded as the number one mining jurisdiction
in the world.
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,
raj@greta.sg , https://gretagroup.com/
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SOURCE Greta Minerals PTE Ltd