Mining Projects Group acquires the Pilbara lithium-gold project in WA

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Image credit: www.miningprojectsgroup.com.au

Mining Projects Group Limited announced the acquisition of the “Lynas Find Assets” in WA’s Pilbara region from Tyranna Resources and Tribal Mining Pty Ltd.

Image credit: www.miningprojectsgroup.com.au
Image credit: www.miningprojectsgroup.com.au

The agreement will see Mining Projects pay a combination of cash and shares for Pilbara, which is 90% owned by Tyranna and 10% by Tribal Mining.

The Lynas Find Assets – to be renamed the Pilbara lithium-gold project (Pilbara) – adjoins both Pilbara Mineral’s Pilgangoora lithium-tantalum project and Altura Mining’s Pilgangoora lithium project.

Mining Projects Managing Director Joshua Wellisch said the extensive exploration undertaken at Pilbara had demonstrated clear potential to host significant lithium and gold mineralisation, underpinned by the extensive lithium resources established in the adjacent tenements by Pilbara Minerals and Altura Mining.

“The lithium-bearing pegmatite sills which have been identified, the extensive gold mineralization already outlined and the considerable success enjoyed by our neighbours in establishing substantial lithium resources gives us every reason to be excited about the Pilbara acquisition,” Mr Wellisch said in a statement to the ASX.

“Upon settlement of the acquisition, we will move quickly to begin an aggressive on-ground exploration program at Pilbara.”

The agreement to acquire Pilbara is part of the company’s strategy to diversify both its asset and commodity base.

Mining Projects already boasts a strong nickel sulphide exploration presence with its 100% owned Roe Hills nickel project near Kambalda in WA, where it conducted an extensive drilling program last year and is now reviewing the data ahead of its preparations for a follow-up drilling program.