Lithium Corporation signs formal agreement on Tantalum-Niobium Prospects
2017-04-21 15:13:56 【Print】
BEIJING (Asian Metal) 21 Apr 17 - Lithium Corporation ("the Company") announced that it and Bormal Resources Inc
As previously announced, Lithium Corporation has the option to earn a 100% interest in three separate claim blocks by furnishing 1,000,000 common shares to the Optionor upon the signing of the formal agreement, and issuing a further 750,000 common shares on the 1st anniversary of the signing of the agreement . The properties are subject to two separate 1% Net Smelter Royalties (NSR's) that may be purchased at any time for $500,000 each.
Two of the properties exhibit strong Tantalum-Niobium (Ta-Nb) mineralization in stream sediments, while the third property is an area of known Ta-Nb enriched carbonatite occurrences where a brief field program by Bormal in 2015 located one of these carbonatites . Concurrent soil sampling determined that the soils here are enriched with Ta-Nb over the known occurrence, and indicated that there are other geochemical anomalies locally that may indicate more carbonatites exist here and are near surface . The Company anticipates preliminary geochemical and prospecting work on the property to commence early this summer.
. have executed the formal agreement with respect to the optioning of three Tantalum-Niobium properties in British Columbia.
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