Cohiba Minerals (ASX:CHK) has been granted the exploration licence for its Mt Cattlin Project by the Department of Mines in Western Australia.
The license has been granted to Cohiba’s wholly owned subsidiary Charge Lithium Pty Ltd for an initial term of 5 years.
The Mt Cattlin Project is the largest single project in the immediate Mt Cattlin area and is less than four kilometres from the Mt Cattlin mine itself.
The Mt Cattlin mine is operated by Galaxy Resources Ltd (ASX:GXY) and General Mining Corp Ltd (ASX:GMM).
Kingston Resources Ltd (ASX:KSN) controls an adjoining block, where samples have graded 4.48% lithium. Kingston has recently commenced drilling in this area.
A part of Cohiba’s Mt Cattlin Central lies on the contact between the Annabelle Volcanics and the Manyutup Tonalite, which is the same formation that produced the Mt Cattlin spodumene mine.
Cohiba is currently carrying out reviews of potential exploration targets in order to define an exploration program for the coming year.
The company’s share price has increased by 50% since the beginning of this year, last trading at $0.015.