Accelerate Resources Limited ('AX8', 'Accelerate' or the 'Company') is pleased to announce that the Company has executed a Native Title and Heritage Exploration Agreement (NTA) with the Ngarluma Aboriginal Corporation (NAC) over the transformational and drill ready Prinsep Lithium Project.

Mr Luke Meter, Chief Executive Officer of Accelerate commented: 'We thank the Ngarluma Aboriginal Corporation for their support and assistance in finalising this agreement. The NTA provides Accelerate with the framework to complete the heritage and ethnographic surveys necessary to responsibly explore and drill the exciting walk-up drill targets at the Prinsep Lithium Project without disturbing areas of cultural significance

Prinsep Lithium Project

The Prinsep Lithium Project is an advanced drill-ready exploration project situated 15km south of the regional centre of Karratha and 35km west of Azure Minerals' (ASX:AZS) Andover Lithium discovery currently subject to a $1.7 billion (AUD) takeover offer by SQM and Hancock Prospecting1 . Prinsep forms part of the Company's larger Karratha Lithium Projects portfolio which encompasses approximately 90km2 of prospective tenure within the emerging Karratha - Roebourne hard-rock lithium belt.

Karratha Lithium Projects Soils Program

Accelerate has contracted field services company Terra Search to complete an extensive soil sampling program over high priority areas of the Karratha Lithium Projects. The program will consist of approximately 630 samples collected on a nominal 100 x 400m northsouth grid over portions of the Prinsep, Mt Sholl East and Roebourne South projects to aid in the Company's understanding of lithium distribution within the developing Karratha - Roebourne hard rock lithium belt as well as to identify new anomalous lithium targets via comparing the data against known mineralisation at Prinsep. The program is expected to take approximately two weeks to complete, with samples being dispatched to Labwest in Perth for Ultrafine Fraction (UFF) analysis

Accelerate is working closely with the NAC to finalise the details and the timing of the heritage and ethnographic survey over the Prinsep Lithium Project. In addition, the Company has also lodged PoW applications with the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) for approval whilst consumables and infrastructure are sourced to ensure rapid deployment once all permit requirements have been completed.

Contact:

Luke Meter

Chief Executive Officer

Tel: +61 8 6248 9663

Email: Lukem@AX8.com.au

Web: www.AX8.com.au

(C) 2024 Electronic News Publishing, source ENP Newswire