THE BOURSE WHISPERER: iTech Minerals (ASX: ITM) has inked two binding Tenement sale and Purchase Agreements (SPA) with Prodigy Gold (ASX: PRX).

The deal will result in iTech Minerals acquiring 100 per cent of Prodigy Gold’s interest in three tenements in the Reynolds Range area of the Northern Territory

The tenements will be held by iTech Minerals wholly owned subsidiary iTech Energy Pty Ltd.

The company believes the acquisition fits neatly into its portfolio of critical minerals projects.

Previous exploration on the tenements has focussed on copper, gold and silver, but iTech has signalled its intent to also focus on REE and lithium mineralisation.

“The acquisition of these highly prospective tenements in the mining friendly Northern Territory, boosts iTech’s exposure to copper, gold, REE and lithium prospectivity at a time when the exploration team is handing over the Lacroma Central resource data to our independent consultants in preparation for the maiden mineral resource estimation,” iTech Minerals managing director Mike Schwarz said in the company’s ASX announcement.

“Our exploration team plans to build on the excellent exploration work already undertaken by Prodigy Gold, to quickly generate new critical minerals targets within the Reynolds Range project.”

The Reynolds Range project consists of three Exploration Licenses of which Prodigy Gold holds 100 per cent of two licences and 80 per cent of another, the 20 per ent of this license is owned by Select Resources.

TO READ THE FULL ANNOUNCEMENT: CLICK HERE