DGAP-News SunMirror AG: SunMirror AG Ramping Up Tin Exploration Efforts At Moolyella Project
DGAP-News: SunMirror AG / Key word(s): Miscellaneous
ZUG, Switzerland; 23 February 2021 -- SunMirror AG ("SunMirror"; XETRA Vienna: ROR1; ISIN CH0396131929), the mining and exploration firm specializing in raw materials such as gold, lithium and other metals and minerals, is increasing its efforts to discover potential tin reserves to meet new demands.
SunMirror has engaged Geonomik in Perth, Australia, to review and conduct the Moolyella Project, prospective for tin, lithium and rare earths. A review of the project in 2011/12 confirmed reconnaissance rock chip sampling over an area of two square kilometres, revealing the presence of highly anomalous lithium in a significant number of samples analysed.
After further assessing historical data, SunMirror's management decided to ramp-up exploring the highly prospective Moolyella Tin and Lithium projects in the Pilbara region of Western Australia due to these sites' history, location, infrastructure and record of rapidly bringing-to-market resources.
Dr. Heinz Rudolf Kubli, member of the Board of Directors of SunMirror AG, explains "Tin price levels are nearing multi-year highs. One of the reasons is the unprecedented demand for tin used in semi-conductors. We want to take advantage of the resulting opportunities."
The Company is targeting a highly prospective exploration ground in the most attractive jurisdiction in the world for mining investment. The Moolyella Project is located 23 kilometers northeast of Marble Bar and consists of one exploration license covering 93 square kilometers. The license is held by Lithium 1 Pty Ltd, a fully-owned SunMirror subsidiary, and covers one of the most prolific historical tin, tantalum and lithium producing districts in Western Australia. In Australia's oldest large-scale tin mining province, primarily artisanal mining took place between 1898 and 1986, which means the area has never been fully explored or drilled at depth. SunMirror's tin tailings are scattered across the land holding.