Ireland-based, privately held project-generation company Aurum Discovery has secured an option to acquire a tin-tungsten exploration project in the Czech Republic, adding a brownfield target to its European portfolio. Aurum said on 5 November that the agreement is conditional on due diligence and successful renewal of the exploration licences.
The property consists of two adjoining exploration permits held by a family-owned business associated with the former mine manager. The underground mines operated until the early 1990s and reached depths of about 250 metres.
Geological work has identified greisen-style mineralisation associated with granite intrusions, as well as locally higher-grade corridors. Confirmation drilling in 2022 returned 6 metres grading 1.09% tin in one hole and 13 metres grading 1.03% tungsten in another. That tungsten hole included 2 metres grading 4.73% tungsten; the exploration results also included a 5-metre interval grading 4.1% tin.
The historic results are not a current mineral resource estimate. Aurum said lithium-bearing mica could provide potential by-product value, but no processing route or economic recovery for lithium has been demonstrated.
Option terms and next steps
Aurum has made an initial option payment and would make a further payment if it exercises its right to acquire 100% of the property. The consideration was not disclosed. If renewed, the exploration licences are expected to remain valid for up to another three years.
The Czech Republic already hosts several mineral exploration and processing initiatives. Tungsten is relevant to industrial tooling and defence supply chains, while tin is used in solder and electronics.
Reopening a historic mine depends on updated geology, environmental assessments, metallurgy, permissions and a commercially viable mine plan. The option gives Aurum access to an exploration target, not an operating asset. Licence renewal and modern resource drilling are the first tests of whether the old workings and associated prospects can advance towards a credible development project.
