MinRex Resources (ASX: MRR) is set to purchase a series of advanced lithium pegmatite exploration assets in the Pilbara after executing a term sheet with private explorer Odette Five Pty Ltd.
The deal will see MinRex pick up four projects covering 483km² of granted exploration licences that it described as ‘highly prospective’ for lithium-tin-tantalum mineralisation, and forms part of its acquisition plan to become an emergent lithium explorer within the world-class Pilbara lithium region.
“These projects have been carefully chosen by MinRex as part of its Pilbara tenement acquisition plan”
Speaking on the acquisition, MinRex Resources CEO Pedro Kastellorizos said: “The MinRex team are delighted with the Company’s strategy to acquire and explore the Company’s current Pilbara tenements and adding new projects like Odette’s ground. These projects have been carefully chosen by MinRex as part of its Pilbara tenement acquisition plan. At this stage we are extremely confident that we have the projects and team ready for exploration in the heart the eastern Pilbara lithium hotspot.”
The project areas are located in the east Pilbara Granite-Greenstone Terrane, an area known to house world-class lithium projects. Lithium deposits currently being exploited in the Pilbara, within spodumene-bearing pegmatites, are resultant from leucocratic late-stage granites and have been discovered primarily within mafic sequences in contact with granitic intrusives at Pilgangoora, Wodgina and Mt Francisco.
Map of MinRex’s five new project areas in the PilbaraThe company notes that soil sampling across the project areas has delineated ‘extensive’ high-tenor lithium anomalies from surface, while a series of outcropping pegmatites have been identified, with zero prior drilling into hard rock. Data from the Western Australian Geological Survey provides further ‘strong’ evidence for lithium-bearing deposits with the license areas.
Moving forward, MinRex has stated that it intends to carry out field mapping and surface soil and rock chip sampling to better understand lithium potential of ‘numerous’ pegmatites. This will be accompanied by soil geochemical surveys using cutting-edge laser-induced breakdown spectroscopy technology to assist in delineating concealed mineralisation. Further work will include remote sensing, airborne geophysical surveys and structural targeting analysis.
Images: MinRex Resources Limited
