Industrial mineral producer, Bass Metals (ASX:BSM) has completed due diligence of a potentially high-grade lithium project in Madagascar.
Bass Metals is looking to finalise the acquisition of project, known as Millie’s Reward, within the next month.
Technical work has confirmed outcropping pegmatites with significant spodumene mineralisation with grades up to 7.08 per cent of lithium oxide.
The acquisition has granted exploration rights, and will help Bass Metals become a lead producer and supplier of industrials mineral concentrates.
Shares in Bass Metals (ASX:BSM) are trading flat at 1.4c.