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Just 10 days after announcing that rock chip sampling at the Russian Jack project in the Pilbara had resulted in encouraging assays, Tambourah Metals (ASX: TMB) has got away a $2.5 million placement. The company said it received strong support from sophisticated and professional investors, with demand exceeding the number of new shares available. A non-underwritten share purchase plan will target a further $1.2 million with existing shareholders offered stock at the same price, $0.235 per share.

Rock chip sampling by Tambourah Metals (ASX: TMB) at the Russian Jack project in the Pilbara has resulted in one assay returning a grade of 1% lithium. This find occurred 1km from the previously reported lithium-bearing pegmatites at the Russian Jack Northwest target. The company says it is stepping up exploration for lithium-caesium-tantalum (LCT) pegmatites at its newly acquired prospects, including at Haystack Well, which was one of six prospects bought this month from Minex Resources (ASX: MRR).

Once again, the Australian share market turned good economic news into a bad share performance as the ASX 200 index slumped to a three-month low of just 7042.3 points. Hot US jobs figures from ADP Research found that employers added 497,000 jobs in June – nearly double what was expected – driving most traders to conclude that the US Federal Reserve is now almost a certainty to raise official interest rates on 26 July. Simultaneous falls for bonds and shares brought back bad memories from last year with the growing consensus being that there is a lot more work to do to slow down the US economy and that interest rates will go higher and stay that way for longer than expected to get inflation under control.

Tambourah Metals (ASX: TMB) has entered into an agreement with leading Chilean lithium producer Sociedad Quimica y Minera de Chile S.A. (SQM) (NYSE: SQM) to jointly explore for new lithium targets in Western Australia. Under the agreement with SQM’s wholly owned local subsidiary SQM Australia, the Chilean company is entitled to an exploration earn-in across six of Tambourah’s Julimar Nth projects located 120km north of Perth.

Tambourah Metals (ASX: TMB) chairperson Rita Brooks joins Small Caps to discuss the company’s recent acquisition of six lithium prospective projects in Western Australia’s Pilbara region and earn-in agreement with Chilean lithium producer SQM. Tambourah has Sociedad Quimica y Minera de Chile SA (SQM), allowing SQM to initially earn a 50% stake, and potentially up to a 70% interest, in six of Tambourah's Julimar Nth projects in Western Australia. SQM will secure these stakes by independently funding between $1.5m and $3m on exploration and development activities. In addition, the addition of the 337 square kilometres of granted exploration licences from Minrex Resources makes Tambourah one of the largest lithium exploration tenement holders in the high-profile Pilbara, host of two operating, Tier 1 lithium mines. Several of the projects adjoin current Tambourah Pilbara projects, including Tambourah North and the Haystack Well Project. The company is planning to quickly advance its new Pilbara lithium assets which are providing additional scale and quality and is already active on the ground there.

Tambourah Metals (ASX: TMB) has expanded its lithium portfolio in Western Australia Pilbara region with the purchase of 337 square kilometres of granted exploration licences from Minrex Resources (ASX: MRR). Under the terms of the acquisition, Tambourah will assume 100% ownership of six projects across the Tambourah, Shaw River and Coondina tenements for a consideration of $50,000 cash plus the issue of $100,000 in fully-paid ordinary shares. The issue price will be equal to the volume weighted average price over the last five trading days and the shares will be held on escrow for three months from issue.

Tambourah Metals (ASX: TMB) is preparing to use historical and modern data to uncover the critical and precious metal potential of 35 new prospecting licenses it has been granted near Nullagine in Western Australia’s Pilbara region. The company’s wholly-owned subsidiary TMB Nullagine has been awarded the new permits, which Tambourah is confident is prospective for both lithium and gold. The area, which is renowned for its golden history, also contains historic prospects for tin and tantalum.

Tambourah Metals (ASX: TMB) has identified 22 new and discrete conductors at the Achilles nickel-copper-platinum group elements (PGE) project following analysis of results from a recent airborne electromagnetic survey (AEM). The company confirmed the Priority 1 conductors were present in a depth range of 180 metres to 300m below surface near to the Olympia deposit.

Tambourah Metals (ASX: TMB) is gearing-up for a busy June quarter as it rapidly advances its critical mineral and gold projects in Western Australia. To drive the accelerated exploration program, Tambourah appointed Ralf Kriege as its chief executive officer in March and he officially began the role this month…

Tambourah Metals (ASX: TMB) chairperson Rita Brooks joins Small Caps to discuss the company’s exploration progress at its Julimar North and Achilles projects in Western Australia. The projects are believed prospective for nickel, as well as platinum group elements, copper and gold. Julimar North is located north of Chalice Mines’ famed Julimar nickel-PGE and copper-gold discovery. An airborne geophysical survey is due to begin this month across major targets Bolgart and Wongan Hills South to assist with planning a drill program.