AM Resources acquires significant land package in the Austrian pegmatite belt

The newly acquired land is located in the Austrian Pegmatite Belt within the Austroalpine Nappes, known for its geological diversity and rich mineral endowment.

AM Resources has positioned itself to become the only lithium exploration country play in a proven jurisdiction with an existing Tier 1 lithium mine project and located within 620 km of end users.

The AM Resources team has been actively assembling a massive prospective land package with four key elements at the core of its strategy: proven geology, proximity to key markets, historical expertise, and a clear, proven mining code. Of the few jurisdictions that qualified, Austria was the obvious choice. AM properties are located within 620 km of 14 planned battery plants and have direct access to an extensive rail system. Mining in Austria predates the founding of the country, with the world’s oldest salt mine in operation.

David Grondin, CEO of AM Resources, commented: “Seizing this unique opportunity in a proven mining friendly jurisdiction was a no-brainer for us. We are very excited to have assembled such a large, high value prospective property. We were diligent in testing and proving our theory last summer when we acquired two properties based on geological probabilistic structures and went to the ground and found spodumene on each one of them. Following this confirmation, we have staked all currently available claims that we believe to be of geological interest in the proven Austrian Pegmatite Belt.”

Within the new property acquisition, the company is looking forward to add the Frederick property to its portfolio with 112 identified pegmatites in an area of 52.25 km². The longest identified pegmatite measures over 750 m in length. This property demonstrates the exceptional potential of the Austrian Pegmatite Belt. The combination of the number and size of the identified pegmatites makes this property one of the team’s top priorities for the company’s next exploration campaign.

“This strategic acquisition represents a pivotal moment in AM Resources’ growth plan and strengthens its position in one of the most prospective mineral regions in Europe. This acquisition fits perfectly with our growth strategy and underscores our confidence in the mineral potential of Austria. The geological diversity for other minerals and the presence of extensive pegmatite systems provide exciting discovery opportunities. To do so in such an overlooked, regulatory stable mining jurisdiction makes it even more exhilarating,” added Mr. Grondin.

Read the article online at: https://www.globalminingreview.com/mining/25032024/am-resources-acquires-significant-land-package-in-the-austrian-pegmatite-belt/