Battery technology play Neometals has been forced to backtrack on some claims around a lithium discovery it says has geological characteristics similar to world-class West Australian projects Mount Marion, Kathleen Valley and Mount Ida.

Neometals had to retract and clarify part of its announcement around a discovery it said was on top of the Mount Ida fault, a geological phenomenon that has captured the attention of Rio Tinto, Wesfarmers, and billionaires Gina Rinehart and Chris Ellison.