Jadar Resources (ASX:JDR) has been on a tear in the past two months with shares in the company climbing about 45% since the beginning of August.

The biggest rise came early in August after the company announced that it had signed a terms sheet to acquire the Mt Wells and Maranboy projects, the largest historical tin producers in the Northern Territory.

Mt Wells produced 1,000t of tin at an average grade of 1.01% along with 7t of copper ore grading 37% that was handpicked from the hanging wall while Maranboy produced more than 800t of tin at a recovered grade of 1.66%.

While neither project had any significant production since 1929 at Mt Wells and 1952 at Maranboy, extensive drilling had been carried out previously in preparation for the definition of a JORC resource.

The last point allowed the company to define an inferred resource of 410,000t grading 0.74% tin and 0.21% copper, or contained resources of 3,000t of tin and 900t of copper, at Mt Wells in the course of completing its due diligence work.

It also generated an exploration target that highlights the potential for further resource growth.

This resource and existing infrastructure means Mt Wells could potentially be brought back into production to capitalise on current commodity prices in the near-term, which undoubtably played a key role in Jadar deciding to proceed with the acquisition.

Jadar’s acquisition fever continued in mid-September with an agreement to pick up the Shaw River lithium, tin and tantalum project in Western Australia’s East Pilbara region that is within an 80km radius of three major lithium developments.

Exploration activity

The company has now mobilised a geology team to start reconnaissance geological mapping and sampling at Shaw River as part of its due diligence work.

This will determine the extent of pegmatite outcrop and lithium, tin and tantalum potential.

It also marks the first work to be carried out on the tenure since the 1990s.

This follows on the company saying yesterday that it intends to carry out drilling on its Weinebene lithium project in Austria, which is interpreted to host an extension of European Lithium’s (ASX:EUR) Wolfsberg deposit.

Previous rock chip sampling by Jadar had returned assays of up to 3.39% lithium oxide, which is promising given that Wolfsberg has a measured, indicated and inferred resource of 10.98Mt at 1% lithium oxide.

The company has also identified several prospect areas within its Eastern Alps projects that require follow up evaluation and drill testing.

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