Tusker Minerals (ASX:TSK) has finalised the acquisition of a 100% interest in the Yaoundé West Rutile tenement package, following the successful completion of technical and legal due diligence.
The acquisition significantly expands the company’s Central Rutile Project to approximately 8,782km2, adjoining Lion Rock Minerals’ Minta Rutile Project, and offers strategic proximity to key infrastructure, including rail, port, power, and the capital, Yaoundé.
Historically, Yaoundé West was a major rutile-producing region between 1935 and 1955, contributing to Cameroon's status as the world’s third-largest rutile producer at the time, and remains the only recorded site of historical residual rutile mining in the country.
The tenements are underlain by high-grade, kyanite-bearing mica schist and garnet paragneiss, enhancing their prospectivity for residual rutile mineralisation.
CEO Cliff Fitzhenry noted that the acquisition was strongly supported by shareholders and reinforced Tusker's view of Yaoundé West as a potential world-class rutile deposit.
Exploration across the Central Rutile Project will continue, with a major field campaign planned for 2026.
As part of a revised transaction structure with the vendors, Mbolo Capital, Tusker has paid $362,500 in cash and issued 5 million ordinary shares and 10 million performance rights, with the remaining consideration to be settled upon the granting of all Yaoundé West licences expected in early 2026.