Eq Resources Limited (EQR) has entered into binding agreements to acquire 100% of Aus Critical Minerals Pty Ltd and TTTP1 Pty Ltd. This transaction adds approximately 353 square kilometres of tungsten-focused exploration tenure in the Mareeba district of Far North Queensland, effectively increasing the company’s total footprint in the region by 45%.

The acquisition includes the granted Mt White mining lease, situated roughly 67 kilometres from the existing Mt Carbine processing facility. Management has identified surface tungsten stockpiles at the site, which the company intends to evaluate as potential supplementary feed for its central operations. The deal is valued at A$900,000 in cash plus the issuance of 30 million ordinary shares.

The expansion is central to the company’s regional hub-and-spoke strategy, designed to secure a broader pipeline of exploration targets around its established infrastructure. Additionally, the transaction provides a pathway for the company to resolve competing tenement applications, which is expected to reduce regulatory grant risks and streamline future approval processes across its priority landholdings.

"This package is highly complementary to our existing operating base. It adds prospective tungsten ground, supports our hub-and-spoke strategy and gives us greater control of the regional pipeline around our Mt Carbine processing infrastructure."

— Craig Bradshaw, Managing Director

Following the completion of the acquisition, the company intends to initiate a technical program to unlock the potential of the new ground. Planned activities include systematic geological mapping, structural analysis, and geochemical and geophysical surveys, followed by scout drilling where target evaluation warrants it.

Read the full announcement: EQR to Increase Mt Carbine Exploration Tenure by 45%