Tambourah Metals and partner SQM discover tantalum and niobium at Mogumber project in WA

Tambourah Metals (ASX: TMB) has confirmed earn-in partner Sociedad Química y Minera de Chile (SQM) has identified tantalum and niobium in a maiden diamond drilling (DD) program at the Mogumber target in Western Australia.

Mogumber is part of the Julimar Nth project located 100 kilometres north of Perth, where SQM is earning an initial 50% interest under an agreement struck in July 2023.

The initial 220-hole aircore drilling program to test a historic geochemical anomaly was successfully completed on a 400-metre by 200m grid for a total of 5,287m over an area of approximately 3.8km by 4.7km.

Contiguous anomaly

A contiguous low-level tantalum–niobium geochemical anomaly was revealed in a preliminary assessment of the assay results.

The anomaly was identified in 1.9m bottom-of-hole samples that extend in a north-south orientation for the 3,000m covered by the drill program.

Samples from the drill program will also be analysed for gold as part of Tambourah’s ongoing review of assay results.

Next exploration phase

The next phase of exploration at Mogumber will be determined by SQM, with the global lithium giant to consider results from the DD program along with data from a recently completed regional aeromagnetic survey.

Under the July 2023 agreement, SQM can earn an initial 50% interest and up to a maximum of 70% in all mineral rights at the Julimar Nth project by sole funding a minimum of $1.5 million and up to $3m of exploration and development activities.

SQM also has the right to exercise its option to form a joint venture (JV) with Tambourah after earning its interest and, in a third stage, becoming the manager of exploration.

Lithium specialist

SQM is one of the world’s leading lithium producers, with its main asset in Australia being a 50% JV interest in the Mt Holland lithium project, as well as other lithium-related investments and early-stage exploration.

The Julimar Nth project is prospective for hosting nickel, copper and platinum group elements and the area has become a high-profile target after Chalice Mining (ASX: CHN) made its spectacular Gonneville/Julimar discovery in March 2020.

That company recently entered into a non-binding memorandum of understanding with Mitsubishi for the potential formation of a strategic partnership to develop the project.