REM notes Macarthur Minerals expands lithium MOU

8th Jul 2016 14:20

(ShareCast News) - Rare Earth Minerals said Macarthur Minerals is expanding its Memorandum of Understanding with Venturex Resources to include the lithium rights on the Whim Creek Project, Western Australia. Macarthur Minerals, in which REM holds a 15.5% interest, is an exploration and development company focused on identifying and developing high-grade lithium deposits.Whim Creek covers aboout 124 sq km of mining and exploration licences.REM said it was intended that the area would be fast-tracked for drilling and exploration once it has been confirmed as prospective for lithium.