Bulletin has finalised the acquisition of the northern tenement (E74/680) being one of the two new Ravensthorpe tenements previously announced in March 2022
Bulletin Resources Limited (“Bulletin”, “BNR”) is pleased to advise that it has now finalised the acquisition of the 36km2 tenement E74/680 which is the northern tenement of the two new tenements the Company acquired via a Tenement Sale Agreement (“Agreement”).
Previous explorers focused on the nickel potential of the area and reported pegmatite float rocks in the northern tenement. The source of the pegmatite float rocks is yet to be found.
Landholder access agreements over the key target areas north and along strike of Bulletin’s known spodumene bearing pegmatites have been signed and exploration works can now commence.
Notably, ultramafics lie immediately northwest of the Annabelle Volcanics and the ground has been previously held by nickel explorers. Whilst nickel prospectivity is yet to be considered by Bulletin, there remains some potential for nickel to be discovered in the area and this opportunity will be followed up by Bulletin.
In accordance with the Agreement Bulletin has today arranged for the issue of 2,500,000 fully paid ordinary shares to the vendors as consideration.
The acquisition of the other tenement the subject of the Agreement (E74/698) has not yet been finalized and the Company will provide an update on that in due course. Under the terms of the Agreement consideration for that tenement is the issue of a further 1,000,000 fully paid ordinary shares.
Source: Company Press Release