TSX-listed BlueBird Battery Metals has entered into a binding letter of intent to acquire 100% of Australian exploration company Oberon Gold from Providence Gold and Minerals.
Oberon controls 100% of the high-grade Sandy Point cobalt project, which includes the Greendale polymetallic project, and 100% of the Reedy Creek polymetallic project. Both projects are located in New South Wales, Australia.
The acquisition is expected to solidify BlueBird with a 202 km2 strategic property position within the emerging Bungonia battery metal cobalt district.
The Sandy Point cobalt project provides significant exploration potential, said BlueBird CEO and chairperson Peter Ball.
“With minimal dilution, we were able to substantially increase our cobalt property portfolio in Australia, and also add the two highly prospective Greendale and Reedy Creek polymetallic projects, that have yielded positive copper, zinc, lead and gold grades near surface.”
“BlueBird continues to review other battery metals opportunities to add to our portfolio,” he added.