Resource Base Secures Two New Tenements in Gawler Craton, Boosts REE Portfolio
Resource Base Limited has secured two new tenements in South Australia's Gawler Craton, reinforcing its rare earth and lithium exploration portfolio amid stable cash reserves and ongoing projects in Canada and Australia.
- Granted EL7054 and EL7060 tenements in Gawler Craton, South Australia
- Maiden JORC Inferred Mineral Resource of 21 Mt at Mitre Hill REE Project
- Lithium projects in Quebec, Canada (Wali and Ernst Lake) remain on hold
- Cash reserves stand at AUD 796,000 as of June 30, 2025
- Raised approximately AUD 86,000 through Loyalty Option Offer
New Tenements in a Hot Exploration Zone
Resource Base Limited (ASX – RBX) has made a strategic move by securing two highly prospective tenements, EL7054 and EL7060, in the Gawler Craton region of South Australia. These tenements, granted during the June 2025 quarter, position the company adjacent to recent discoveries by peers such as Petratherm and Marmota, who have sparked renewed interest in titanium, gold, rare earth elements (REEs), and platinum group minerals (PGMs) in the area.
EL7054 lies approximately 100 kilometres south of Coober Pedy and is near Petratherm’s Artemis Rare Earth prospect, while EL7060 is located near known Anorthosite Complex occurrences and close to other significant gold and titanium prospects. The appointment of consultant Michael Beven, a geoscientist with a track record in rare earth and titanium projects, underscores the company’s commitment to unlocking value from these tenements.
Mitre Hill and Canadian Lithium Projects – Steady Foundations
Resource Base’s Mitre Hill REE Project, straddling the South Australia and Victoria border, holds a maiden JORC Inferred Mineral Resource estimate of 21 million tonnes at 767 parts per million total rare earth oxides (TREO). This resource is near surface and has potential for expansion, although no fieldwork was conducted during the quarter.
In Canada’s James Bay region, the company’s lithium projects, Wali and Ernst Lake, remain strategically important but inactive this quarter. Both projects are situated in geologically prospective belts, with Wali near Patriot Battery Metals’ Corvette prospect and Ernst Lake adjacent to Winsome Resources’ Adina project, which has seen recent lithium discoveries.
Financial Position and Corporate Activity
Resource Base reported cash reserves of AUD 796,000 at the end of June 2025, reflecting a modest but stable financial position. The company raised approximately AUD 86,000 through a Loyalty Option Offer, which was fully underwritten by directors Maurice Feilich and Brent Palmer. Exploration expenditure during the quarter was around AUD 14,000, indicating a cautious approach to capital deployment.
Payments to related parties, including director fees and superannuation, totaled AUD 68,000. The company continues to assess new project opportunities while maintaining its existing portfolio, signaling a balanced strategy between exploration and financial prudence.
Looking Ahead
While no new drilling or exploration activities were reported this quarter, the granting of the two South Australian tenements places Resource Base in a promising position within a region gaining momentum for critical minerals. Investors and analysts will be watching closely for upcoming exploration results and potential capital raising initiatives that could accelerate development.
Bottom Line?
Resource Base’s new tenements and steady resource base set the stage for potential growth, but cautious capital management will be key.
Questions in the middle?
- When will Resource Base commence exploration activities on the newly granted South Australian tenements?
- How might the company fund further exploration given its modest cash reserves?
- What impact could nearby discoveries by peers have on Resource Base’s project valuation and partnerships?
