- Lithium One Metals (LONE) signed an option agreement to acquire an additional lithium property in the James Bay region of Québec
- The Ferrari Lithium property is located 35 km northeast of the Pontois-Corvette Lithium Projects owned by Patriot Battery Metals (TSXV:PMET) and 40 km northeast of Lithium One’s Taycan Lithium property
- The acquisition expands the company’s land holdings, with more than 450 sq. km. in Canada, 190.6 sq. km. in Québec and 259.5 sq. km. in northwestern Ontario
- Lithium One Metals Inc. was unchanged, trading at $0.68 per share at 10:10 am ET
Lithium One Metals (LONE) signed an option agreement to acquire an additional lithium property in the James Bay region of Québec.
The Ferrari Lithium property is located 35 km northeast of the Pontois-Corvette Lithium Projects owned by Patriot Battery Metals (TSXV:PMET) and 40 km northeast of Lithium One’s Taycan Lithium property.
The property is in the eastern part of the La Grande Greenstone belt and in the vicinity of government mapped pegmatites and recently identified pegmatites at Arbor Metals’ (TSXV:ABR) Jarnet Lithium property.
The acquisition expands the company’s land holdings in the rapidly growing James Bay region. The company now has more than 450 sq. km. in Canada, with 190.6 sq. km. in Québec and 259.5 sq. km. in northwestern Ontario.
The team expects to start a multi-project work program in spring 2023 with a Phase One exploration campaign.
The company will pay a total of $210,000 and the issue 6,000,000 common shares for the project, subject to the acceptance of the TSX Venture Exchange.
Lithium One also announced that it will sell all the issued and outstanding common shares of its wholly-owned subsidiary, 9412-1068 Québec Inc., to 1399205 B.C. Ltd., a company that is at arm’s length to the Lithium One.
Lithium One Metals (LONE) is a Canadian exploration company specializing in the acquisition and development of high-potential lithium properties in Ontario and Quebec.
Lithium One Metals Inc. (LONE) was unchanged, trading at $0.68 per share at10:10 am ET.