MinRex Resources (MRR) has signed a binding terms sheet with Abeh Pty Ltd and Maxwell Strindberg to obtain seven exploration licenses in Western Australia.
These acquisitions are an important step in MinRex's plan to become an emerging lithium explorer.
The total area of the project is 176.9 square kilometers. There are a large number of pegmatites within the permitted scope. Modern exploration is relatively untested.
In 2013, Altura Mining (AJM) discovered outcrops of lithium mineralization in pegmatites in Tamborah North.
Three samples of cuttings were collected on the outcrop pegmatite, with the highest grades of 2.02% lithium oxide, 1890 ppm rubidium and 274 ppm tantalum.
The limited evaluation of pegmatite indicates that further field work is needed to determine the continuity or existence of lithium mineralization.
The Tambourah Creek project has not previously conducted lithium exploration. However, Abeh's work in 2019 found that the lithium oxide content was as high as 0.74%.
Sampling of stream sediments recovered 3138 ppm tin, 30 ppm niobium and 24 ppm tantalum.
Exploration by Mt Edon Gold Mines in 1994 highlighted the high-grade tin and tantalum mineralization of the Shaw River project.
Lithium exploration has not been completed, and further work is needed to determine the possible economic resources of lithium, tantalum, tin, and yttrium group metals.
The highest grade is 3.99% tin, 2866 ppm tantalum, 1481 ppm niobium and 1500 ppm yttrium.
The Coondina project has determined that it is rich in tin mineralization and no lithium sampling has been carried out.
There is very little historical exploration of the Soansville West, South, and Central projects, and PacMinex completed only a small amount of work in 1975.
This work identified up to 5350 ppm of lead, 32 ppm of silver, 16 ppm of gold, and 165 ppm of zinc.
According to MinRex CEO Pedro Kastellorizos, once detailed geological mapping and sampling are completed, drilling tests will begin.
"Once the detailed geological mapping/sampling is completed, our experienced team will be ready for drilling tests," said Mr. Kastellorizos.
"Further work will immediately begin to reinterpret the airborne magnetic/potassium data to locate ground pegmatites, while at the same time determining the trends and structures that seem to control lithium-tin-tantalum mineralization."
MinRex has a stable performance in the market, with the stock price of 2.1 cents at 2:43 pm Australian Eastern Time.