06/10/2021 - 15:30

Australasian Gold up on CSIRO partnership

06/10/2021 - 15:30

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Australasian Gold’s shares have closed up by more than 7 per cent, after the West Perth-based explorer announced a partnership with CSIRO.

Australasian Gold's Mt Peake lithium project is located about 200km north of Alice Springs. Photo: Jeremy Bezanger

Australasian Gold’s shares have closed up by more than 7 per cent, after the West Perth-based explorer announced a partnership with CSIRO.

CSIRO, through its Kick-Start program, will fund half of a research project undertaken by Australasian Gold in relation to the company's Mt Peake pegmatite lithium project in the Northern Territory.

The program aims to assist start-ups, as well as small- and medium-sized businesses, in undertaking research and development activities.

Australasian Gold managing director Qingtao Zeng said the partnership would assist the company in accelerating its lithium exploration program.

“CSIRO will be empowering us with the latest equipment capable of identifying most lithium bearing minerals in the field and enables us to rapidly home into the right area to explore,” he said.

“The recent field mapping work has identified several pegmatite outcrops, and with CSIRO’s equipment, we hope to be able to fast-track our efforts to identify the most prospective lithium bearing zones.”

The Mt Peake project is located within the Northern Arunta pegmatite province, about 200 kilometres north of Alice Springs.

Australasian Gold shares closed up 7.6 per cent today to trade at 42 cents.

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