Voltaic Strategic Resources (ASX:VSR) agreed to acquire 100% of Industrial Metals, a move that bolsters its presence in the burgeoning Gascoyne lithium province of Western Australia.
The acquisition secures the granted exploration licence E09/2833, a high-priority landholding situated immediately adjacent to the company’s flagship Ti Tree Project and contiguous with Delta Lithium’s established Yinnetharra tenure.
The strategic expansion adds vital acreage along the interpreted Volta Corridor, an area increasingly recognised for its prospectivity in lithium and tantalum.
Under the terms of the deal with vendor Ground Risk, Voltaic will issue 2,500,000 fully paid ordinary shares at a deemed price of $0.04 per share, representing a headline transaction value of $100,000.
The script-based, low-cost acquisition provides the company with enhanced exploration optionality without a heavy cash outlay.
The new tenement is geologically significant, featuring the Leake Spring Metamorphics and the Thirty Three Supersuite, which are known to host rare-element pegmatites.
Historical records already indicate the presence of mica, beryl, and tantalum-columbite workings within the parcel.
Voltaic Chairman Daniel Raihani described the move as "highly complementary", noting that the proximity to Delta Lithium’s 21.9Mt mineral resource underscores the district's potential.
The completion of the sale remains subject to customary conditions precedent, including due diligence and formal documentation.
At the time of reporting, Voltaic Strategic Resources' share price was $0.040.