Connect with us

Hi, what are you looking for?


European Lithium to Acquire Leinster Lithium Project in Ireland with CRML Shares

European Lithium Limited (ASX: EUR, FRA:PF8, OTC: EULIF) (European Lithium or the Company) is pleased to announce the execution of binding Heads of Agreement, pursuant to which European Lithium has agreed to acquire, and Technology Metals plc (TM1) has agreed to sell 100% of the issued share capital of LRH Resources Limited, its fully owned subsidiary, that holds 100% of the rights, title and interest in the Leinster Lithium project in Ireland (Acquisition) in an all script transaction. Completion of the transaction is subject to technical and legal due diligence to be completed by EUR and other conditions customary for this type of transaction.


European Lithium has entered into a binding agreement with Technology Metals plc, a UK-based company listed on the standard list of the London Stock Exchange, to acquire 100% of the issued share capital of its fully owned subsidiary, LRH Resources, that holds the rights, title and interest in the Leinster Lithium Project in Ireland. Consideration of $US10 million to be settled through the transfer of 1,234,568 shares held by European Lithium in Critical Metals Corp (Nasdaq: CRML) at a deemed share price of $8.10 USD/ share. Exploration program is targeting lithium prospects in the underexplored lithium province of Leinster, Ireland.Initial exploration program covering 23 prospecting licenses of ca. 761 km2, demonstrated the presence of 24 intervals of lithium-bearing spodumene pegmatites across nine drill holes with grades up to 2.57 % Li2O at Knockeen.Leinster Lithium Project, drilling confirmed LCT pegmatite dike swarm within East Carlow Deformation Zone, surface assays and trench samples confirmed the range up to 3.75 % Li2O. European Lithium continues to build a quality exploration projects portfolio in prospective lithium provinces.

The Republic of Ireland is an exploration friendly jurisdiction with a long history of exploration from the 1950’s through to the present and particularly well known for several historical producing Zn-Pb mines (Lisheen, Galmoy) as well as the currently operating Boliden owned Tara Mines one of the largest Zn-Pb mines in Europe.

The project is situated south of Dublin in the Leinster Granite Massif within the same key tectonic zone and along strike to the Blackstairs Lithium (Ganfeng / ILC joint venture) Avalonia Project.

Tony Sage, Chairman of EUR, commented: “The acquisition shows our commitment to continue expanding in the European lithium sector and illustrates our capability to identify and secure ground in highly prospective lithium provinces, leveraging our world class exploration and project development expertise, combined with a strong balance sheet. This also demonstrates the value of our investment in Critical Metals Corp. As we move forward, we can utilise the investment again and again without depleting our cash reserves”.

Click here for the full ASX Release

This post appeared first on

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Leading chip designer Advanced Micro Devices, Inc. (AMD) is at a critical juncture, one which could go either way depending on the dynamics of...


    Output from the top uranium-producing countries rose steadily for a decade, peaking at 63,207 metric tons (MT) in 2016. However, global uranium production has...

    Editor's Pick

    There is no trial in recent history, or possibly all of American history, that can rival the one underway in Lower Manhattan. For the...


    Meta Platforms Inc. (META), the social media giant formerly known as Facebook, has been in tight consolidation at the top of its range for...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024