The Reynolds Range Project (Courtesy Prodigy Gold Ltd)
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HIGHLIGHTS
- iTech Minerals Ltd (ASX: ITM) is excited to announce it has signed two binding Tenement sale and Purchase Agreements (SPA) with Prodigy Gold NL (ASX: PRX) to acquire 100% of Prodigy Gold’s interest in three tenements in the Reynolds Range area of the Northern Territory.
- The tenements will be held by iTech Minerals wholly owned subsidiary iTech Energy Pty Ltd.
- The acquisition fits neatly into iTech’s portfolio of critical minerals projects aiming to provide materials for the electrification of the global economy.
- Previous exploration has focussed on copper, gold and silver, but iTech is also focussing on REE and lithium mineralisation.
- The acquisition allows new critical mineral target generation as graphite exploration ramps down during the cropping season on the Eyre Peninsula in South Australia.
The acquisition of these highly prospective tenements in the mining friendly Northern Territory, boosts iTech’s exposure to copper, gold, REE and lithium prospectivity at a time when the exploration team is handing over the Lacroma Central resource data to our independent consultants in preparation for the maiden mineral resource estimation.
Our exploration team plans to build on the excellent exploration work already undertaken by Prodigy Gold, to quickly generate new critical minerals targets within the Reynolds Range project.
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- The exploration team will undertake this work at the same time as independent consultants generate a maiden mineral resource estimation at Lacroma Central, due in May 2024.
WATCH: In this Exploration Update iTech’s Managing Director Mike Schwarz discusses the latest ASX release and company activities (5min)
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