The Australian company signed agreements with Abeh and Maxwell Strindberg for the seven licences which are collectively spread over an area of 176.9km2
The licences being acquired by MinRex Resources are located in East Pilbara. (Credit: holzijue from Pixabay)
MinRex Resources is set to acquire four exploration licences and mineral rights in three exploration licences in the Pilbara region of Western Australia.
The licences are said to be highly prospective for lithium-tin-tantalum.
For the acquisition, the company has signed two separate agreements with Abeh and Maxwell Strindberg.
MinRex Resources did not disclose the financial terms of the deals.
The deal signed with Abeh involves the Tambourah North lithium project (E45/4953), Tambourah Creek project (E45/4275), Shaw River lithium project (E45/4601) and Coondina lithium project (E45/4266) exploration licences.
With Maxwell Strindberg, the exploration licences involved are E45/5071, E45/4455, and E45/3926, which are collectively dubbed Soanesville projects.
MinRex Resources stated that the deals are an important next step in its tenement acquisition plan aimed at transforming itself into an emergent lithium explorer with high-quality assets inside a 70km radius of major lithium and tantalum producers Pilgangoora of Pilbara Minerals and Wodgina of Mineral Resources.
Put together, the seven licences located in East Pilbara have a total project area of 176.9km2.
According to MinRex Resources, the tenements within the area have extensive and outcropping pegmatites which are yet to be tested by the currently available lithium exploration methods.
MinRex Resources CEO Perdo Kastellorizos said: “Geological evidence supports all project areas to host significant lithium bearing pegmatites based on recent rock chip assaying results and the extensive historical tin/tantalum mining over extensive pegmatites.
“Our highly experience team will be ready for drill testing once the detail geological mapping/sampling has been completed.”
Going forward, MinRex Resources will start field mapping and sampling of surface soil/rock chips for assessing the lithium potential of the various pegmatites in all the areas.
For all the historical known and mapped pegmatites, the company will undertake geological reconnaissance and detail mapping apart from the historic assessment of the tin and tantalum mines inside the project areas through detail auger sampling.
Additionally, it will carry out high resolution airborne re-interpretation of geophysics in order to generate lithium targets for ground evaluation and sampling.
Earlier this month, MinRex Resources signed a deal to acquire Odette Five, an Australian firm focused on lithium pegmatite project generation in Western Australia.
Odette Five has 483km2 of granted exploration licences across four prospective lithium-tin-tantalum projects in Pilbara.