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17/06/2024
Mining News

AM Resources expands holdings with acquisition of 1,500km² land package in Austria’s pegmatite belt

AM Resources has bolstered its portfolio with the acquisition of a vast 1,500km² land package in Austria, focusing on the renowned Austrian Pegmatite Belt nestled within the Austroalpine Nappes.

Renowned for its geological richness and abundant mineral reservoirs, the acquired region presents a promising prospect for exploration and resource development.

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CEO of AM Resources, David Grondin, expressed enthusiasm about the strategic acquisition, stating, “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.”

Grondin emphasized the company’s diligent approach, highlighting previous successful exploratory endeavors that confirmed the presence of spodumene on acquired properties. Building upon these findings, AM Resources has now staked additional claims deemed geologically significant within the Austrian Pegmatite Belt.

Of notable interest is the Frederick property, boasting 112 identified pegmatites across a sprawling 52.25km² area. This property has been earmarked as a priority for AM Resources’ forthcoming exploration initiatives. Notably, the Frederick property boasts a pegmatite stretching over 750m, underscoring its significance within the Austrian Pegmatite Belt.

Grondin remarked, “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.”

The geological diversity and extensive pegmatite systems present within the acquired land offer promising prospects for discovery. AM Resources plans to leverage the abundance and size of these pegmatite formations in its upcoming exploration campaign.

Geological surveys have revealed the presence of numerous pegmatites distributed across the newly acquired territory, primarily within mica schist and paragneiss formations, often interspersed with staurolite and aluminosilicate-rich layers. This geological landscape sets the stage for potentially significant mineral discoveries, further fueling AM Resources’ exploration endeavors in Austria’s Pegmatite Belt.

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