Lithium mineralisation has been discovered by Core Exploration Ltd (ASX:CXO), Liontown Resources Ltd (ASX:LTR) and Lithium Australia NL (ASX:LIT) to the north-west from Batchelor.
The mineralisation in the area is related to tin and tantalum occurrences and occurs primarily in pegmatite dykes and sills within the Burrell Creek Formation.
As part of the initial phase of the exploration, Korab will continue detailed review of historical exploration data, drill logs and outcrop mapping.
The company will also undertake its own mapping and sampling program.
In August, Korab had commenced a review of the Batchelor project for its zinc potential.
This review is almost complete and the results are currently being verified and collated.
Korab also owns the Winchester magnesium carbonate development project in the Northern Territory.
The pre-feasibility study for the project has shown that it has attractive economics with an aggregate EBITDA of $395 million over the quarry life.
The company is discussing with various stakeholders regarding the development of the project, and is currently preparing plans to take it to the next stage.