Korab Secures Exploration Licence Renewal

Korab Resources Ltd (ASX: KOR) has announced the renewal of Exploration Licence EL31341, a key component of its Rum Jungle Project in the Northern Territory. The license, covering 65 square kilometers, has been extended until November 27, 2025, and is eligible for further renewals. EL31341 is strategically located approximately 70km south of Darwin, near Batchelor, and is an integral part of the broader Rum Jungle Project, which spans around 240 square kilometers within the highly prospective Pine Creek Orogen (PCO). The Rum Jungle Project comprises two exploration licenses held by Korab (EL29550 and EL31341), seven mineral leases held by Korab Group (ML30587, MLN512, MLN513, MLN514, MLN515, MLN542 and MLN543), and one mineral lease which is subject of the sale agreement with unrelated party Leka II Shipping Limited (ML27362). Korab’s Rum Jungle Project is prospective for various minerals, including magnesium, gold, silver, tin, zinc, lead, nickel, copper, cobalt, rare earth oxides, scandium, lithium, iron ore, manganese, uranium, and phosphate. The project also encompasses the Winchester Magnesium Deposit and Sundance Gold Mine. Korab’s Mt. Elephant project in Western Australia is focused on gold and copper. The renewal of EL31341 underscores Korab’s commitment to advancing its exploration activities in the region. Korab’s shares are listed on the Australian Securities Exchange (ASX: KOR), with a current market capitalization of $3 million.