Western Gold Resources (ASX: WGR) has entered into a conditional agreement to acquire the Holmtjarn REE, Loberget graphite, and Rullbo graphite projects, located in Sweden.
The Holmtjarn Pproject is hosted within syn- to late-orogenic intrusive rocks interpreted to host NYF pegmatites like the Stockholm granite and Ytterby pegmatite group, Sweden. The Loberget and Rullbo graphite projects are located in the northern Gävleborg county that hosts the Woxna graphite deposit, the only graphite mine in the European Union.
Western Gold managing director, Warren Thorne, commented, “We are excited to expand our exploration portfolio for highly sought-after critical minerals within one of the world’s best mining jurisdictions,”
“The Holmtjarn, Loberget, and Rullbo projects strongly complement our critical minerals portfolio, and we look forward to working with our in-country technical experts as well as new stakeholders. We believe Sweden’s REE and graphite potential is still to be unlocked, and that these projects can assist making Europe self-sufficient in battery minerals. We remain committed to creating shareholder value as a committed and effective explorer for critical minerals in Sweden. The Swedish autumn is an exciting time for the company, with exploration programmes to be conducted across the three project areas.”
In the near-term the company plans to undertake systematic geochemical sampling of known mineral occurrences within the tenement in conjunction with reconnaissance geological mapping. Existing geophysical surveys will be purchased and reprocessed to help define prospective regions, and relogging and assaying of historical core from Rullbo will be completed to determine graphite content.
To find out more, please visit www.westerngoldresurces.com.au
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