European Lithium has finalized the acquisition of LRH Resources, the owner of the Leinster lithium project in Ireland, from UK-based Technology Minerals. The Leinster project spans an extensive area, including 15 prospecting licenses covering 477 km² and an additional eight licenses covering 284 km², located south of Dublin. Several lithium-bearing spodumene pegmatites have been identified within the project’s north and south blocks.
Under the terms of the agreement, European Lithium will issue 1.37 million shares in Critical Metals Corp to Technology Minerals, with a lock-up period until February 28, 2025.
Tony Sage, Chairman of European Lithium, emphasized that this acquisition reflects the company’s strategy to expand its footprint in the European lithium market. He noted the importance of the deal in supporting the European Union’s goals of securing sustainable supply chains for critical minerals vital to the transition to a low-carbon economy. Sage also highlighted the strategic value of the company’s investment in Critical Metals Corp, which was used to facilitate the acquisition.
Additionally, European Lithium has appointed geologist and international mining executive George Karageorge as the new Executive General Manager of Exploration. Karageorge brings extensive experience in taking mining projects from exploration to production, having worked with several ASX and TSX-listed companies. His appointment is expected to strengthen the company’s efforts in advancing its exploration and development activities in Europe.
European Lithium, which also holds the Wolfsberg lithium project in Austria, aims to be the first local lithium supplier in Europe, contributing to the region’s integrated battery supply chain. The company is positioning itself as a key player in Europe’s lithium sector amidst growing demand for the critical mineral.
