Lycaon Resources announced an Agreement to acquire the Stansmore REE carbonatite project

Lycaon Resources Limited (ASX: LYN) announced that its wholly owned subsidiary, West Arunta Resources Pty Ltd (WAR), has entered into a conditional binding Heads of Agreement to acquire the Stansmore REE carbonatite project, exploration license E80/5723 in the West Arunta region of Western Australia.

WA1 Resources and Encounter Resources, in its recent discovery, have demonstrated the potential for the West Arunta region to host significant REE and IOCG-type mineralization systems. Alkaline systems are critical drivers in forming IOCG and carbonatite-hosted REE deposits, with the area seeing a renewed exploration focus on these deposit types. The company is looking forward to being part of the exciting developments in the West Arunta region, exploring critical minerals Niobium and REE’s.

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