MetalsTech Completes Consolidation of the Wells-Lacourciere Lithium Project
MetalsTech Limited (MTC or the Company) is pleased to announce that the Company has completed the consolidation of the 100%-owned Wells-Lacourciere Lithium Project, located in Quebec, Canada.
Highlights
• Consolidation of the Wells-Lacourciere Lithium Project, located approximately 60km west of Vald’Or in Quebec, Canada
• Wells-Lacourciere includes 155 mining claims covering an area of 9,150 hectares and is located close to existing mine-related infrastructure including the recently restarted Quebec Lithium Mine
• Geological work completed by MTC in 2016 identified several pegmatite outcrops with significant spodumene mineralisation, and returned assays as high as 7.34% Li2O (calculated) (in spodumene samples) and 2.67% Li2O (in bulk samples) (Refer to Prospectus dated 7 December 2016)
• Exploration at Wells-Lacourciere in 2018 will first focus on the current pegmatite outcrop which has been mapped over a strike in excess of 600m as well as geological sampling at new pegmatite discoveries
Commenting on the consolidation at Wells-Lacourciere, Executive Director, Mr Gino D’Anna stated:
“ We are pleased to have completed our c onsolidation of the Wells - Lacourciere project . T he recently acquired claims are strategically positioned at the site of a historically explored mineralised zone where gra des of up to 7.34% Li 2 O in surface samples and 2.67% Li 2 O in bulk samples were reported. Once completion of the recently announced strategic funding deals with Wuxi Baichuan and Dynavolt have occurred, we will look to commence significant exploration programs at Wells - Lacourciere in addition to our planned programs at the Cancet and Adina lithium projects. ”
Consolidation of Wells-Lacourciere Lithium Project
The Company entered into a binding acquisition agreement on 21 September 2016 to acquire three key claims at the Wells-Lacourciere Lithium Project (known as Wells-Lacourciere Extension II), adjacent to the Company’s existing tenements, pursuant to which, staged payments were to be made to the Vendors with the final payment due on or before 21 September 2018.
MTC Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)