Corcel PLC on Wednesday said that it has started initial exploration efforts at its fully-owned Canegrass lithium project in Western Australia.

Corcel is a London-based mining and mineral resource development company with interests in flexible energy storage and production. It manages operations in Papua New Guinea, Canada, Australia, and the UK.

The firm told investors that it has engaged APEX Geoscience out of Freemantle, Australia, to conduct initial exploration activities at the project.

The programme, it explained, includes a first pass ground truthing programme designed to verify the interpreted pegmatite swarms originally delineated from satellite imagery analysis. The goal of the programme is to investigate and confirm both the lithium and nickel prospectivity of the project.

‘We are excited to have our initial field team on site at Canegrass in Western Australia. With lithium remaining extremely attractive across Australasia and meaningful potential for nickel at the project, we expect these results to inform and guide our next steps at the site,’ said Executive Chair Antoine Karam.

‘Whilst we continue to build momentum in our operations in Angola, we still believe material shareholder value exists in our Western Australian assets and look forward to progressing this activities on the ground.’

Corcel shares were trading 4.8% lower at 0.50 pence each in London on Wednesday afternoon.

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