Exploration company Musk Metals has entered into an agreement to acquire the Elon lithium property, spanning 245 ha in the La Corne and Fiedmont townships of Quebec.
The project is strategically located about 600 m north-east of the Lithium Amérique du Nord, project (formerly Mine Québec Lithium), which produced more than 907 000 t of material, at 1.40% lithium oxide from 1955 to 1965.
"Fuelled by the recent shift to electric vehicles, demand for battery metals and materials has skyrocketed. Musk Metals has diversified its portfolio of highly prospective exploration projects to include the Elon lithium property as the company strives to maximise shareholder value by participating in this red-hot space,” says Musk Metals CEO Nader Vatanchi.
Musk will acquire the project by buying Tonto Investments for three-million shares.