European Lithium has successfully acquired LRH Resources, the operator of the Leinster lithium project in Ireland, from UK-based Technology Minerals. The Leinster project encompasses an extensive area south of Dublin, with 15 prospecting licenses covering 477 km² and an additional eight licenses spanning 284 km². Notably, the region includes several lithium-bearing spodumene pegmatites across its northern and southern blocks.
As part of the agreement, European Lithium will issue 1.37 million shares in Critical Metals Corp to Technology Minerals, with a lock-up period lasting until February 28, 2025.
Chairman Tony Sage highlighted that this acquisition aligns with the company’s strategy to expand its presence in the European lithium market. He stressed the significance of the deal in supporting the European Union’s sustainability goals, securing supply chains for critical minerals crucial for the transition to a low-carbon economy. Sage also emphasized the strategic value of their investment in Critical Metals Corp, which facilitated the acquisition.
To bolster its exploration efforts, European Lithium has appointed George Karageorge, an experienced geologist and international mining executive, as its Executive General Manager of Exploration. Karageorge brings a proven track record of advancing mining projects from exploration to production, having collaborated with several ASX and TSX-listed companies. His leadership is expected to enhance the company’s exploration and development activities in Europe.
European Lithium, which also owns the Wolfsberg lithium project in Austria, aspires to become Europe’s first local lithium supplier, playing a vital role in the region’s integrated battery supply chain. The company’s strategic positioning aims to address the surging demand for lithium across Europe, solidifying its status as a key player in the sector.
