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SensOre enters farm-in agreement to accelerate exploration at Firetail's Yalgoo Lithium Project

Published 07/11/2023, 10:31 am
Updated 07/11/2023, 11:00 am
© Reuters.  SensOre enters farm-in agreement to accelerate exploration at Firetail's Yalgoo Lithium Project
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SensOre Ltd (ASX:S3N) has signed another exploration deal, this time in the form of a farm-in agreement with Firetail Resources Ltd to accelerate lithium exploration at the Yalgoo Lithium Project in Western Australia.

SensOre’s joint-venture subsidiary Exploration Ventures AI Pty – formed in partnership with German resource investment group Deutsche Rohstoff AG – now has the option to earn up to 80% of lithium rights on tenement E59/E2252 by spending $3.5 million in two stages.

Under the terms of the agreement, SensOre will provide Firetail access to its proprietary AI technology across the Yalgoo and Dalgaranga Lithium Project, which has already identified lithium-caesium-tantalum (LCT) pegmatite prospectivity.

AI-driven exploration

“We are delighted to have the opportunity to collaborate with Firetail in this LCT-prospective region, where the FTL team has made great progress with their exploration so far,” SensOre executive director and CEO Richard Taylor said.

“We are excited to see the value that SensOre will be able to bring with our proprietary AI technology in exploring the wider Yalgoo and Dalgaranga Project area.”

SensOre and Firetail will now work closely together to identify and confirm lithium exploration targets in the region.

Should a maiden mineral resource estimate and a pre-feasibility study (PFS) be delivered, the agreement includes additional considerations for Firetail of up to $600,000.

Read more on Proactive Investors AU

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