In January of 2016, Moreton Resources announced to the ASX that it had created the 100% fully owned subsidiary, MRV Metals. This subsidiary company has been created to facilitate any future potential acquisition prospects of Moreton Resources Limited.
In February of 2016 MRV Metals entered into a binding agreement to acquire a range of tenements in the Granite Belt region, close to the township of Texas in Southern Queensland. These tenements, EPM 8854, EPM 11455, EPM 12858, EPM 18950, and EPM 26275 were last held by Texas Silver Mines Pty Ltd, and have been the subject of early stage, and advanced exploration. As such, over 20 areas of interest have been identified as containing indications of high grade silver and copper, with additional early indications of gold, lead and zinc.
Through this acquisition, MRV also acquired extensive historical drill data and associated analysis, collected over multiple exploration programs that will be modelled with the best potential future exploration prospects then determined.
In October of 2017 the ML100106 was granted, for further information please refer to the ASX Announcement.