https://www.miningweekly.com
Exploration|Gold|PROJECT|Projects|Resources
Exploration|Gold|PROJECT|Projects|Resources
exploration|gold|project|projects|resources

Valor options Frazer Lake lithium project in Canada

13th February 2024

By: Creamer Media Reporter

     

Font size: - +

Australia-based Valor Resources, which will reposition as Thunderbird Resources over the next few months, has acquired a low-cost option over a portfolio of highly prospective lithium projects in Canada.

The company in December announced the exclusive option agreement with Pegmatite One Lithium and Gold (PGA) and has now signed a definitive agreement, giving it the right to acquire 100% of the Frazer Lake lithium project, in Ontario.

The Frazer Lake project is one of three lithium projects in north-western Ontario subject to option agreements announced late last year. The company is also working on the definitive agreement for the Morrison Lake property and finalising the acquisition of the Jesaulenko project.

The agreements give Valor a portfolio of lithium assets, alongside its portfolio of high-potential uranium and rare earth assets in the Athabasca basin.

“Our aim is to finalise the lithium transactions in the coming weeks and we will be working to get on the ground as soon as possible,” said Valor executive chairperson George Bauk.

For the exclusive right until September 30, 2024, Valor has to pay PGA A$80 000 in cash, 30-million shares at A$0.004 a share or A$120 000 cash by June 1, and 30-million shares or A$120 000 cash at the company’s election three months after starting on ground field-based exploration activities.

In the event the company elects to proceed with the acquisition, it is required to issue one-billion shares.

Edited by Creamer Media Reporter

Comments

Showroom

SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 
John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (12/04/2024)
12th April 2024 By: Martin Creamer
Magazine round up | 12 April 2024
Magazine round up | 12 April 2024
12th 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:0.109 0.145s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: