https://www.miningweekly.com
Exploration|PROJECT|Drilling
Exploration|PROJECT|Drilling
exploration|project|drilling

NewPeak looking at lithium in Argentina

15th June 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior diversified explorer NewPeak Metals has unveiled new lithium plans in South America.

The ASX-listed company on Thursday announced the proposed acquisition of a 25% to 30% interest in UK-based mineral explorer Southern Cross Britannia, which holds over 1 100 km2 of exploration tenure in the Salta province of Argentina, including the Hombre Muerto South lithium project.

Under the terms of the agreement, NewPeak will transfer its wholly-owned subsidiary Excarb SA and pay $1.5-million for its 25% interest. Excarb holds all NewPeak’s mineral interests in Argentina. The funds paid by NewPeak will be used to complete a drilling programme at Hombre Muerto South.

NewPeak could acquire a further 5% in Southern Cross at its own discretion for $1.5-million within three months after drilling is completed at the project area.

“This acquisition will provide the company with access to a compelling market opportunity in lithium. Southern Cross has a strong leadership and technical team, and we are excited about the potential of this new lithium exploration opportunity,” said NewPeak chairperson Brian Moller.

“The transaction is the first stage of the company’s rejuvenation plan in securing new mineral exploration opportunities and we look forward to working together to progress this opportunity in lithium exploration and create value for our collective shareholder base.”

The transaction is subject to a number of conditions, including Southern Cross completing a geophysics survey and confirming the prospectivity of the tenements for lithium.

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.157 0.195s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: