- MinRex Resources (MRR) secures the rights to the Tancred lithium project in the prospective Leinster lithium–caesium–tantalum pegmatite field in southeast Ireland
- The project, owned by Tancred Resources, includes four exploration licences across 249 square kilometres, with an approximate strike length of 20 kilometres
- MinRex Managing Director George Karageorge says the transaction extends the company’s business of lithium discovery and pursuit of early-stage exploration projects
- Mr Karageorge says the company has wasted no time, sending its technical team to commence field operations on the project, assessing its prospectivity
- Shares in MRR were up 7.14 per cent and trading at 1.5 cents at 3:05 pm AEST
MinRex Resources (MRR) has secured the rights to the Tancred lithium project in the prospective Leinster lithium–caesium–tantalum pegmatite field in southeast Ireland.
Owned by Tancred Resources, the project includes four exploration licences across 249 square kilometres, with an approximate strike length of 20 kilometres.
MinRex Managing Director George Karageorge said the company has been on the search for early-stage lithium exploration projects with discovery potential.
“This transaction extends MinRex’s business of lithium discovery and pursuit of exploration projects with the potential for large-scale battery metals discoveries,” he said.
“Utilising our expertise and strong funding to strategically assess lithium projects with potential for new discoveries.”
The MinRex technical team were deployed and field operations have started to assess the potential and prospectivity of the project.
The company’s team is working with Tancred Resources geoscientists to carry out geochemical sampling and field work to assess drill targets and the project’s viability.
“We have wasted no time in sending our exploration team to assess potential targets and the potential for the project area to contain a large-scale lithium discovery,” Mr Karageorge added.
Elsewhere, the company reported active exploration was taking place in the region, with Chinese lithium refiner Ganfeng Lithium exploring to the northeast, where historic grades of 2.23 per cent lithium oxide over 23.31 metres were reported.
Meanwhile TSX-listed Global Battery Metals is exploring within one kilometre to the east of the Tancred project, having secured approval from the Irish government for up to ten drill holes at its Coolyhune project.
As for the Tancred project, the option is exercisable up until June 29, 2023, whereby until then, MinRex has the exclusive right to conduct due diligence on the project.
Shares in MRR were up 7.14 per cent and trading at 1.5 cents at 3:05 pm AEST.