- Arctic Fox Lithium (AFX) will acquire the Pontax North Lithium Project in James Bay, Quebec
- The company will issue the seller 6,000,000 common shares priced at $0.12 per share, as well as $50,000 in cash on the closing date
- The property boasts a 10-km-long pegmatite trend and intrusions with potential for beryllium, lithium, niobium and tantalum
- CEO Harry Chew spoke with Coreena Robertson about the news
- Arctic Fox Lithium is a Canadian junior mining exploration company focused on lithium and copper
- Arctic Fox Lithium (AFX) last traded at $0.12 per share
Arctic Fox Lithium (AFX) will acquire the Pontax North Lithium Project in James Bay, Quebec.
The property is comprised of 34 active mineral claims over 1,803 hectares.
It’s located 12 km south of Galaxy Resources’ (ASX:GXY) and now Allkem’s (ASX/TSX:ALLKEM) James Bay Lithium Project, which boasts a mineral resource estimate of 40.3 Mt at 1.40 per cent Li2O, and 12 km north of Stria Lithium’s (CSE:SRA) Pontax Lithium Project, whose best intercept to date was 21.39 m grading 1.16 per cent Li2O.
The northern portion of the property is characterized by S-type pegmatitic granite intrusions, a lithology known for its beryllium, lithium, niobium and tantalum potential.
Pontax also houses an underexplored 10-km-long pegmatite trend as mapped by MERN.
The company signed a definitive agreement with 1000383374 Ontario Inc., who will receive 6,000,000 common shares priced at $0.12 per share and $50,000 in cash on the closing date.
CEO Harry Chew spoke with Coreena Robertson about the news.
Arctic Fox Lithium is a Canadian junior mining exploration company focused on lithium and copper.
Arctic Fox Lithium (AFX) last traded at $0.12 per share.