Reynolds Range Project Expansion
iTech Minerals (ASX: ITM) has strategically filed an application for an additional tenement at its Reynolds Range copper-gold project located in the Northern Territory. This proposed tenement is situated next to the three tenements that the company is in the process of acquiring from Prodigy Gold (ASX: PRX). By incorporating this new tenement, iTech Minerals stands to considerably enlarge its landholding at the Reynolds Range project, effectively doubling its presence in this promising area.
Encouraging Outcomes from Current Tenements
The three tenements currently under acquisition from Prodigy Gold have already revealed substantial potential. Preliminary exploration has produced encouraging results, especially from the Sabre and Scimitar prospects, as well as the GMF. These locations have yielded rock chip samples featuring gold, copper-gold-silver, and lithium, indicating a varied and potentially profitable mineral profile.
At the Sabre prospect, gold assays have indicated optimistic grades, pointing to the existence of high-value mineralization. Likewise, the Scimitar prospect has exhibited notable copper-gold-silver intersections, which could improve the project’s overall resource base. The GMF has also played a part in the favorable outlook with lithium rock chip samples, adding another layer to the project’s mineral potential.
These discoveries highlight the strategic importance of the tenements being obtained from Prodigy Gold. By merging these tenements with the newly sought-after area, iTech Minerals is not only broadening its landholding but also reinforcing its position in a region recognized for its mineral wealth. This initiative is anticipated to enhance the company’s exploration and development opportunities, potentially resulting in significant value creation for its shareholders.
