Ausmon Resources (ASX:AOA) has granted three exploration licenses in South Africa – The Market Herald

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  • Ausmon Resources (AOA) obtains three new exploration licenses for the exploration of rare earths in South Australia
  • The six-year grants are from the South Australian Department of Energy and Mines and are in place until July 2, 2028.
  • The three licenses cover a combined area of ​​2,562 square kilometers located southeast of Adelaide on the Limestone Coast
  • Ausmon plans to explore the fine clay fraction believed to exist in the area
  • AOA shares are up 30% to trade at 0.7 cents apiece at market close

Ausmon Resources (AOA) has obtained three new exploration licenses for the exploration of rare earths in South Australia.

The six-year grants are from the South Australian Department of Energy and Mines and are in place until July 2, 2028.

The three licenses cover a total of 2,562 square kilometers located southeast of Adelaide on the Limestone Coast.

The company said it plans to explore the fine clay fraction that would exist in the area.

Australian Rare Earths (AR3) has a large area in the region and two weeks ago the mineral resources of the Koppamurra project increased by 104%.

Koppamurra’s mineral resources now stand at 81.4 million tonnes at 785 parts per million total rare earth oxide.

Rare earth elements have been identified as a critical mineral by Australia, Europe, the United State Geological Survey and the International Energy Agency.

Ausmon developed an exploration strategy for selected sites in the buildings to be visited and to collect bulk samples to identify any clay fraction.

In the market, AOA shares rose 30% to trade at 0.7 cents apiece at market close.

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