North East Leases
Dynamic entered into a binding agreement to acquire an initial 25% interest in the North East Leases (NEL) Project in north Queensland, with the right to earn up to 70%, subject to due diligence and required approvals.
The NEL Project gives Dynamic a second Australian fluorspar platform with a substantial historical exploration footprint and several areas of known fluorite mineralisation. Fluorspar is the principal commercially mined source of fluorine. Fluorine compounds are used in lithium-ion batteries, semiconductor manufacturing and aluminium production.
Project Overview
- NEL is strategically located west of Mt Garnet and north of Mt Surprise in north Queensland, complementing Dynamic’s Meentheena Project in Western Australia
- Comprises three granted exploration permits held by North East Lithium Pty Ltd, together with an exploration permit application
- The vendor group provides an opportunity for a downstream mineral-processing capability, creating an opportunity to investigate potential Australian value-add pathways as the geological work advances
- Recent exploration focused on improving the geological understanding of the Project’s fluorspar potential. The combined 2024 and 2025 reconnaissance dataset includes results up to 98.8% CaF₂ equivalent; 8 selective samples returned ≥80% CaF₂ equivalent
- High CaF₂ equivalent results were returned from multiple priority prospects, including Ironclad, Mt Sirius, Moonflight, True Blue, Montgomery and Big Relief
Dynamic will progress technical and tenure due diligence and the required consents. Subject to approvals, funding and access arrangements, initial work is expected to include validation of historical data, geological mapping and representative sampling to identify priority exploration targets.
The Company intends to combine Meentheena with NEL and associated intellectual property into a new fluorite-focused subsidiary, which will provide a vehicle for future partnership, development and funding opportunities.