Excellent geology in terms of the potential for multiple critical metal deposit types
Key Project Takeaways
Evidence of large mineralising systems and substantial historic mineral deposits
Established infrastructure
Strong links to cutting edge academic research in the field of various critical metal deposit types
Long mining history and culture translates into a local familiarity with the extractive industry
Saxony Projects
The Saxony critical metals projects, consisting of the 14 km2 Eichigt licence and the 381 km2 Marienberg licence, are located in south-eastern Germany. Saxony has a 1,000-year mining history and is currently experiencing advanced exploration primarily for lithium, tin, tungsten, silver and fluorite. The area has excellent infrastructure, a year-round workable climate and respected academic institutions providing high level access to research and staff.
The Board believes Saxony has extensive scope and excellent potential for the discovery of critical mineral deposits. Rudimentary targeting by small local companies has been far more prevalent than widespread modern exploration, providing EGT with an exciting opportunity to utilise its skill set and experience. Previously neglected rock types such as lithium greisen and critical metal veins are still available for targeting and changes in processing / metallurgy means historic mineral resources are now potentially economic.
The only operational mine in Saxony, Niederschlag, is located c.9km to the SW from the Marienberg licence boundary, although there are a number of tourist mines employing former miners as guides, underlying the regions mining heritage.
Marienberg
The 381 km2 Marienberg licence area was historically an areas that produced silver (Ag) and Tin (Sn) but is also highly prospective for REE. The licence covers large, identified structures and old mining fields within favourable distances to Variscan granites, the drivers of the Ag and Sn mineralisation. The area lacks modern exploration especially drilling, but modern research on the mineralising systems has greatly advanced the team’s understanding of its potential.
The main two types of mineralisation being targeted are greisen systems (Sn, Li and W) – primarily deep-epithermal silver and 5-type element veins. Several mines have only been worked to the very top of the Sn-bearing zone and form primary exploration targets.
Marienberg is a primary destination in Europe for looking for so called minor metals such as Indium (In), Germanium (Ge) and Gallium (Ga).
Eichigt
The Eichigt licence, close to the town of Oelsinitz in south-western Saxony, covers 14 km2 and contains several Mn-Fe-oxyhydroxide veins exposed at surface. The mineralisation is found in association with vein quartz / hematite alteration and takes the form of fracture fill, breccia fill and massive oxides / hydroxides hosted by a phyllite country rock. A surface expression, in the form of small workings, suggests multiple mineralised structures on a NW-SE trend. Workings show highly elevated levels of critical metals over 1km of strike with workings continuing for a total of 1.7km. Results show that breccia fill and massive mineralisation are to be the target of future exploration work.
The Board believes that a licence prospective for REE and other critical minerals in the heart of Europe makes the proposition exciting. Furthermore, due to access and mineralisation type, exploration is cost effective, and a simple work programme can be used to progress the project.
The intention is to advance the initial identified areas to drill stage whilst contemporaneously developing new target areas for quantification and development.
