Highlights
The acquisition of Mining Lease M09/101 enables the Company to conduct trial bulk sampling and provides a significant number of logistical benefits.
The acquisition of M09/101 is important strategically as it directly adjoins the Company’s Morrissey Hill lithium project and provides further exploration opportunities.
The low-cost acquisition provides further consolidation in the area, expanding the Company’s footprint.
Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to announce that the Company’s wholly owned subsidiary, Critical Elements Pty Ltd has entered into a binding tenement purchase agreement (“Acquisition Agreement”) with Tamas Kapitany (“Seller”) for the acquisition of mining lease M09/101 (“Mining Lease”).