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22/06/2024
Mining News

European Lithium strengthens position with Leinster lithium project acquisition

Europe’s increasing demand for base metals and battery materials, driven by its shift towards clean energy systems, has spurred the formation of the Critical Raw Materials Act (CRMA). This legislation, adopted in March, aims to enhance and diversify the EU’s raw materials supply chain while reducing the risk of supply disruptions. It presents an opportunity for ASX-listed companies to capitalize on the continent’s resource development prospects.

European Lithium has already positioned itself in the CRMA landscape with its Wolfsberg and other hard rock lithium projects in Austria. Now, it’s expanding its footprint in Europe’s lithium supply chain by considering the acquisition of the Leinster project in Ireland.

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In a strategic move, EUR has entered an agreement with UK-based Technology Metals plc to acquire its wholly-owned subsidiary, LRH Resources, which owns the Leinster lithium project in Ireland. The project, situated south of Dublin in the Leinster Granite Massif, holds promising potential, with spodumene pegmatites identified through surface sampling and diamond drilling in both the North and South blocks.

The Leinster project is strategically located along strike from the Avalonia project, a joint venture between Ganfeng (55%) and International Lithium (ILC) on the TSXV. It spans a highly prospective trend, the East Carlow Deformation Zone, known for its mineralizing fluid flow conducive to lithium pegmatite emplacement.

Initial exploration efforts have revealed significant lithium-bearing spodumene pegmatites across the project area, with grades of up to 2.57% Li2O at the Knockeen prospect. A comprehensive regional study covering 6,000km2 highlighted key structural features associated with mineralization fluid flow, offering valuable insights for targeted exploration.

Upcoming exploration activities will focus on further delineating structural corridors and high-priority target areas identified through remote sensing and geological surveys. This includes the Scurlocks, Sorrell, and Knocknaboley prospects, as well as the exploration of additional targets along the confirmed highly prospective trends.

European Lithium’s strategic move into the Leinster lithium project underscores its commitment to meeting Europe’s growing demand for critical metals and positioning itself as a key player in the continent’s clean energy transition.

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