AM Resources discovers 49 pegmatites in Austria
AM Resources Corp. [TSXV-AMR; FSE-76A] has discovered 49 new pegmatites within an area of 12.32 km2. These pegmatites consolidate the company’s strategic position in one of Austria’s most prospective lithium areas on its 1,500 km2 land package.
Valerie property: Located just one km southwest of the Frederick property, the Valerie property hosts 27 pegmatites over an area of 7.2 km2. The average pegmatite length is 203 metres and the longest one measures 447 metres.
Emilia property: Located eight km southwest of the Frederick property, the 5.12 km2 Emilia property hosts 22 pegmatites with the longest pegmatite measuring 505 metres long and 110 metres wide, showcasing the large-scale potential of the Austrian pegmatite belt.
The cumulative length of pegmatites across the Valerie and Emilia properties amounts to eight km, indicative of the substantial prospective lithium opportunity at hand.
David Grondin, CEO of AM Resources, commented: “The added strategic value of our Emilia and Valerie properties cannot be overstated, with eight km of pegmatite bodies to explore. Combined with the 112 pegmatites on the Frederick property, we could not be more excited to begin our exploration campaign.
“In terms of logistics, we have the strong advantage of having our technical team, led by Julien Desrosiers, our COO Europe, all based in Europe, which will have a positive impact on costs and acquisition opportunities. In addition, our team has a strong understanding of the permitting and regulatory process in Austria and has access to the necessary resources and equipment to explore and develop our projects,” added Grondin.
The geology of the Austrian pegmatite belt is similar to geological formations in Canada. The presence of mica schists is significant. Mica schists are metamorphic rocks that have undergone high-temperature and pressure changes. These conditions are favourable for the formation of certain minerals, including spodumene, from the breakdown of Li-bearing alumino-silicate mineral staurolite, which can contain significant amounts of lithium (up to 0.3% Li2O (lithium oxide)). The breakdown of staurolite can release lithium into the surrounding rock, where it can be incorporated into pegmatites.
As previously reported, 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. AM Resources’ Austrian properties are located within 620 km of 14 planned battery plants and have direct access to an extensive rail system.