PERTH (miningweekly.com) – Graphite junior Volt Resources has acquired three lithium licence applications in Serbia, covering some 291 km2.
The ASX-listed company will acquire Serbian-listed Asena Investments, which holds the rights to the three licence applications, in exchange for the issue of more than 36-million shares in Volt.
“The Asena transaction is an exciting opportunity for Volt to acquire lithium licences in highly prospective and under-explored areas in Serbia,” said chairperson Asimwe Kabunga.
“The transaction forms part of a larger strategy to position Volt to become a multi-commodity battery minerals company with projects focused on the two key minerals in the fast-growing lithium-ion battery market - lithium and graphite.
“With these assets located in Europe and relatively close to the US market, Volt’s integrated battery minerals supply chain strategy continues to evolve and provide shareholders with significant long-term growth opportunities.”
Subject to the licence applications being granted, the first phase of a drilling programme is set to start in the third quarter of next year, across all three licences.