Thor Mining PLC (LON:THR) said the due diligence programme is now in progress at the Western Shaw project in the Pilbara region of Western Australia.
The company has paid A$50,000 to acquire a 120-day option to take a 75% stake in the Western Shaw project for A$250,000; the project looks like it might host commercial quantities of gold and lithium.
Thor said arrangements have been finalised for an initial helicopter-assisted reconnaissance visit to the tenement area this month.
Supplementing the aerial reconnaissance, the exploration company plans to put boots on the ground – boots occupied by experienced geologists – at various locations along three separate north-south traverses.
The task of the geologists will be to confirm the existence of prospective lithologies within the tenement which, if successful, would lead to further ground-based evaluation.
The target geology, identified from desktop review of historic records, includes potentially lithium-bearing pegmatites, nickel-bearing ultra-mafics and basal conglomerate-hosted gold.
"The Western Shaw Project appears to be an excellent exploration opportunity and provides Thor with exposure to potential conglomerate hosted gold and lithium in the Pilbara province in Western Australia," said Mick Billing, the executive chairman of Thor.
"This first site visit for field reconnaissance is an important part of our initial assessment," he added.