This work forms part of the company's strategy to accumulate and explore prospective resources in areas that have sound geological basis for potential discoveries. Historical success in the discovery of minerals in and around the pegged load claims also supports the locations that have been staked.
The mineral rich area is composed of a geologically complex suite of igneous, metamorphic, and sedimentary rocks. In addition to the complex geology in the area an active hydrothermal system beneath the claims may enhance mineralization along active outcropping faults.
Cobalt and battery metals division
Eon's battery minerals division has commenced cobalt exploration as part of its diversified energy strategy. It plans to acquire additional prospective claims in Nevada and other cobalt prospective regions in the USA to provide a solid platform for future potential economic discoveries.
The diversification of the future energy market is predicted to see a sustained demand for battery metals. Eon's participation in this part of the energy market is seen as an extension of its existing energy business which has been focused on hydrocarbon discovery and extraction.
Further results will be reported in due course.
About EON NRG Ltd
EON NRG Ltd (ASX:E2E) is an USA onshore focused energy exploration and production company. The Company's growth path is through drilling of high impact oil exploration wells, supported by its 100% owned and operated long life oil and gas production assets and associated cashflow. The company also has a battery minerals division with prospective leases in Nevada which are at the early stages of low cost exploration.
CFO / Company Secretary
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