West Spargoville Project
The West Spargoville Project (WSP) is the Company’s flagship Project, located within the core of the Southern Yilgarn Lithium Belt in Western Australia and surrounded by the Bald Hill Mine, Mt Marion Mine, Buldania Project and Pioneer Dome Project.
The Project comprises of 80km2 of highly prospective tenure in a significant lithium province. The Company completed extensive reconnaissance work and attracted top 50 ASX, leading diversified resources company Mineral Resources Limited (ASX:MIN) as a joint venture partner at WSP, highlighting the exciting exploration and discovery upside of the Project.
Mineral Resources is a recognised leader in the construction and operation of hard rock lithium mines in Western Australia and brings tremendous technical, operational and potential financial capacity to WSP.
Partnering with a global leader in the lithium industry like Mineral Resources places the Company in a strong position to successfully explore and potentially progress WSP into a lithium project of size and scale.
Marquee and Mineral Resources are progressing WSP through a joint venture agreement that currently stands at MQR with 75% and MIN with 25%. Since the commencement of our engagement in July 2022, Marquee and Mineral Resources have formed a close working relationship. In June 2023, Marquee accelerated the joint venture terms in recognition of Mineral Resources’ commitment to WSP. Acceleration of the agreement with Mineral Resources highlighted the significant progress made at WSP, as both companies focus on lithium exploration and potential discovery success.
The primary purpose of the joint venture will be to explore and potentially develop, mine, process and produce lithium from WSP, and Mineral Resources continue to sole fund all exploration and development costs until a processing or mining investment decision is made.
