The Aston project is adjacent to Delta’s Yinnetharra lithium project.
Under the agreement, Delta Lithium will acquire 100% of the tenements that make up the Aston project, which includes 17 individual tenements identified under various titles. The sale includes an upfront cash payment of AUD 450,000 upon completion, as well as a 1.5% net smelter return (NSR) royalty on future sales of lithium and other associated minerals, such as tantalum, caesium, beryllium, and rubidium, extracted from lithium-bearing ores.
The NSR royalty arrangement allows Minerals 260 to retain long-term exposure to potential exploration success at the Aston site, offering future value to its shareholders. The Aston project is situated next to Delta Lithium’s Yinnetharra lithium project, adding strategic value through proximity and potential synergies.
According to the agreement, the transaction is expected to be finalized within five business days after receiving Ministerial consent under the Mining Act for the transfer of two specific tenements, or within 30 days of signing the agreement. Minerals 260 will continue to maintain the tenements in good standing until the sale is completed.
The decision to sell the Aston project reflects Minerals 260’s strategy to focus its resources on the Bullabulling gold project, located 25 km southwest of Coolgardie, Western Australia. This gold project is being prioritized for its development potential and scale.
The Bullabulling project has a JORC 2012-compliant mineral resource estimate of 60 million tonnes at 1.2 grams per tonne gold, equivalent to 2.3 million ounces of contained gold. The tenement package covers 570 square kilometers of contiguous land, offering strong exploration potential and the possibility for open-pit mining operations.
To support this development, Minerals 260 completed a capital raise of AUD 220 million before costs in April 2025. The funds are intended to advance the exploration and development activities at Bullabulling, aligning with the company’s strategy to focus on high-potential gold assets.
This transaction with Delta Lithium is positioned as a strategic divestment by Minerals 260, allowing it to sharpen its operational focus while still maintaining indirect exposure to the lithium sector through the NSR royalty from the Aston project.
