Pure Resources Eyes High-Grade Garnet Acquisition

Pure Resources Limited (AU:PR1) has released an update.

Pure Resources Limited has announced a binding option agreement to acquire the high-grade Reedy Creek Garnet Project in Western Australia, which boasts up to 78% garnet from the surface. The project, near established infrastructure and global markets, shows promising potential to become one of the few commercial hard-rock garnet mines, with applications ranging from jet cutting to water filtration. The company plans rapid advancement through feasibility and mining studies, targeting a strong demand for industrial garnet.

For further insights into AU:PR1 stock, check out TipRanks’ Stock Analysis page.