PERTH (miningweekly.com) – Minerals explorer Argonaut Resources has acquired a second Canadian lithium project.
The ASX-listed junior told shareholders on Tuesday that the company had agreed to purchase the Greenbush Lake lithium project, where previous exploration had confirmed high grades from existing rock chip sampling.
Under the terms of the transaction, Argonaut would pay Canadian Orebodies C$100 000 for the project, along with a 2% net smelter royalty.
The purchase of the Greenbush Lake project followed the February buy of the Crescent Lake lithium project, also from Canadian Orebodies.
In addition to the Canadian properties, Argonaut in April this year secured two exploration licences over the Lake Blanche project area, in South Australia, which had the potential to host lithium brines and potash.