Tenements related to the farm-in include E28/2976, E28/2681 and E28/2880. Credit: Jose Luis Stephens/Shutterstock.

Alchemy Resources has announced a farm-in and joint venture (JV) agreement with the Japan Organization for Metals and Energy Security (JOGMEC) for its Roe Hills Project in Western Australia (WA).

Under the agreed terms, JOGMEC can earn up to a 51% interest by funding A$6m in exploration by 31 March 2029.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Alchemy will operate the project during this period, with the JV covering parts of the Roe Hills tenure within the larger 694km² Karonie Gold and Lithium Project.

This partnership with JOGMEC, a Japanese Government agency focused on securing stable resource supplies, represents a strategic move for Alchemy as it seeks to tap into the burgeoning lithium market.

The Roe Hills Project, comprising approximately 248km², is located along a structural trend near the Manna Lithium deposit, which holds significant lithium oxide resources.

See Also:

The tenements included in the farm-in, E28/2976, E28/2681, and E28/2880, are situated in a geologically promising area.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The Geological Survey of Western Australia has identified a high density of geological features such as plagioclase and porphyritic dykes, as well as quartz veins, which are indicative of lithium-bearing pegmatite deposits.

Alchemy Resources CEO James Wilson said: “This is a fantastic outcome for Alchemy and a great endorsement for the Karonie project and we look forward to working with the team at JOGMEC to explore this prospective area.

“The farm-in and JV deal gives a clear path for exploration at Roe Hills in the medium term, and along with our existing gold exploration plans in the region, provides JOGMEC and Alchemy the best opportunity for exploration success in the region.

“Exploration has been ongoing through the year and has resulted in the delineation of several priority targets, which we plan on testing once the requisite approvals are in place.”