Aurum Discovery has announced the acquisition of an option on a tin-tungsten project located in the Czech Republic, currently owned by a private family-run business. The project encompasses two adjacent exploration permits that include historical underground tin-tungsten mines, which were operational until the early 1990s and reached depths of approximately 250 metres. The geological composition of the area is characterised by low-grade greisen mineralisation found in the upper zones of granite stocks, which have intruded into heavily deformed gneiss formations, alongside localised higher-grade mineral corridors.
In addition to tin and tungsten, the project holds potential lithium credits due to the presence of abundant lithium-mica, which could add value as a by-product. Beyond the historical mining sites, there are further exploration target areas that were drill-tested successfully in the 1980s but have not yet been developed. Recent drilling in 2022 confirmed the presence of mineralisation in a granite stock identified in the 1980s, with notable results including 6 metres at 1.09% tin and 13 metres at 1.03% tungsten, with intervals showing significantly higher grades.
The permits for the project are currently undergoing renewal, which, once completed, will extend their validity for an additional three years, followed by an application for a mining licence. Aurum Discovery has made an initial option payment and will proceed with a final payment upon the exercise of the option to acquire full ownership of the project, contingent upon due diligence and successful licence renewal.
This acquisition presents abundant exploration opportunities for two strategic metals within the European Union, namely tungsten and lithium, in a brownfields setting, indicating a promising future for Aurum Discovery in the region. Stakeholders and industry watchers are encouraged to keep an eye on developments as the company progresses with its plans.
