Discovery Lithium Inc. Enters into Definitive Agreement to Acquire Group of Claims in Northern Québec
Discovery Lithium Inc. (CSE:DCLI)(OTCQB:DCLIF) has entered into a definitive agreement to acquire the Sakami and Radisson East Lithium Properties in Quebec's James Bay lithium district. The properties cover an 89.7km2 area with potential for lithium exploration, centered around Archean-aged Guyer greenstone structures. Key points:
1. The Sakami Property has ~37km of under-explored strike length, while Radisson East has ~15km.
2. The acquisition involves 2,000,000 common shares issued to the vendor over 12 months.
3. A 2% net smelter returns royalty will be granted upon commercial production.
4. The deal is subject to CSE acceptance, with shares having a four-month hold period.
CEO Mike Hodge states this acquisition enhances their exposure to important greenstone structures for lithium exploration in Quebec.
Discovery Lithium Inc. (CSE:DCLI)(OTCQB:DCLIF) ha stipulato un accordo definitivo per acquisire le proprietà litiche Sakami e Radisson East nel distretto litico di James Bay, in Quebec. Le proprietà coprono un area di 89,7 km² con potenziale per l'esplorazione del litio, centrato su strutture di verde archetano Guyer. Punti chiave:
1. La proprietà Sakami possiede circa 37 km di lunghezza di strike poco esplorata, mentre Radisson East ha circa 15 km.
2. L'acquisizione prevede l'emissione di 2.000.000 di azioni comuni al fornitore nell'arco di 12 mesi.
3. Verrà concessa una royalty del 2% sui ritorni netti di fusione all'inizio della produzione commerciale.
4. L'accordo è soggetto all'accettazione della CSE, con le azioni che avranno un periodo di blocco di quattro mesi.
Il CEO Mike Hodge afferma che questa acquisizione migliora la loro esposizione a strutture litiche importanti per l'esplorazione del litio in Quebec.
Discovery Lithium Inc. (CSE:DCLI)(OTCQB:DCLIF) ha firmado un acuerdo definitivo para adquirir las propiedades de litio Sakami y Radisson East en el distrito de litio James Bay en Quebec. Las propiedades cubren un área de 89,7 km² con potencial de exploración de litio, centradas en estructuras de granito verde del Arqueano. Puntos clave:
1. La propiedad Sakami tiene aproximadamente 37 km de longitud de strike poco explorada, mientras que Radisson East tiene aproximadamente 15 km.
2. La adquisición involucra la emisión de 2,000,000 de acciones comunes al vendedor a lo largo de 12 meses.
3. Se otorgará una regalía del 2% sobre los retornos netos de la fundición al inicio de la producción comercial.
4. El acuerdo está sujeto a la aceptación de la CSE, con acciones que tendrán un período de bloqueo de cuatro meses.
El CEO Mike Hodge afirma que esta adquisición mejora su exposición a estructuras de granito importantes para la exploración de litio en Quebec.
Discovery Lithium Inc. (CSE:DCLI)(OTCQB:DCLIF)는 퀘벡의 제임스 베이 리튬 지구에 위치한 사카미 및 라디슨 이스트 리튬 자산을 인수하는 최종 계약을 체결했습니다. 이 자산은 아르케안 시대의 가이어 녹색 암석 구조를 중심으로 89.7km² 면적을 다루고 있으며 리튬 탐사의 잠재력을 가지고 있습니다. 주요 내용:
1. 사카미 자산은 약 37km의 탐사가 부족한 스트라이크 길이를 가지고 있으며, 라디슨 이스트는 약 15km입니다.
2. 인수는 12개월 동안 공급자에게 발행되는 2,000,000주에 포함됩니다.
3. 상업 생산이 시작되면 2%의 순 제련 수익 로열티가 부여됩니다.
4. 이 거래는 CSE의 승인을 받아야 하며, 주식은 4개월의 보유 기간이 있습니다.
CEO 마이크 호지(Mike Hodge)는 이번 인수가 퀘벡의 리튬 탐사를 위한 중요한 녹색 암석 구조에 대한 노출을 강화한다고 밝혔습니다.
Discovery Lithium Inc. (CSE:DCLI)(OTCQB:DCLIF) a conclu un accord définitif pour acquérir les propriétés de lithium Sakami et Radisson East dans le district lithium de James Bay au Québec. Les propriétés couvrent une surface de 89,7 km² avec un potentiel d'exploration du lithium, centrées autour de structures de greenstone de l'ère archéenne. Points clés :
1. La propriété Sakami a environ 37 km de longueur de strike peu explorée, tandis que Radisson East en a environ 15 km.
2. L'acquisition implique l'émission de 2 000 000 d'actions ordinaires au vendeur sur 12 mois.
3. Une redevance de 2 % sur les retours nets de fusion sera accordée lors de la production commerciale.
4. L'accord est soumis à l'acceptation de la CSE, les actions ayant un délai de blocage de quatre mois.
Le PDG Mike Hodge déclare que cette acquisition renforce leur exposition à d'importantes structures de greenstone pour l'exploration du lithium au Québec.
Discovery Lithium Inc. (CSE:DCLI)(OTCQB:DCLIF) hat eine definitive Vereinbarung zur Akquisition der Lithium-Liegenschaften Sakami und Radisson East im Lithium-Distrikt James Bay in Quebec getroffen. Die Liegenschaften erstrecken sich über ein Fläche von 89,7 km² mit Potenzial für Lithium-Exploration, das sich um archoische Gesteinsstrukturen von Guyer gruppiert. Wichtige Punkte:
1. Die Sakami-Liegenschaft hat etwa 37 km kaum erforschten Strike-Länge, während Radisson East etwa 15 km hat.
2. Die Akquisition umfasst 2.000.000 ausgegebene Stammaktien, die über 12 Monate an den Verkäufer ausgegeben werden.
3. Bei kommerzieller Produktion wird eine 2%ige Netto-Exkursions-Royaltie gewährt.
4. Der Deal unterliegt der Zustimmung der CSE, wobei die Aktien eine Sperrfrist von vier Monaten haben.
CEO Mike Hodge erklärt, dass diese Akquisition ihre Exponierung gegenüber wichtigen Gesteinsstrukturen für die Lithium-Exploration in Quebec erhöht.
- Acquisition of 89.7km2 of potential lithium-rich property in the prolific James Bay district
- Properties include significant strike lengths of greenstone structures, important for lithium exploration
- Proximity to other high-grade lithium projects in the region
- No upfront cash payment required for the acquisition
- No lithium-focused exploration has been conducted on the properties yet
- Potential shareholder dilution due to issuance of 2,000,000 new common shares
- 2% net smelter returns royalty obligation upon achieving commercial production
VANCOUVER, BC / ACCESSWIRE / August 14, 2024 / Discovery Lithium Inc. (CSE:DCLI)(OTCQB:DCLIF)(FRA:Q3Q0)(WKN:A3EFKA) (the "Company" or "Discovery Lithium"), a Canadian exploration company focused on advancing domestic energy freedom through regional lithium discovery, is pleased to announce that it has entered into a definitive agreement to purchase a group of claims generally known as the Sakami and Radisson East Lithium Properties (the "Claims"), located in the James Bay lithium district.
The Sakami and Radisson East Lithium Properties
The Sakami and Radisson East lithium Properties (collectively the "Properties") cover more than an 89.7km2 footprint within the prolific James Bay lithium district. The Properties are centered around regional Archean-aged Guyer greenstone structures with coincident anomalous lithium-in-lake sediment results. Greenstone belts are the key host geology at each of the following nearby high-grade lithium projects: 1) Patriot Metals' Corvette Lithium Project, 2) Winsome Resources Cancet Lithium Project, and 3) Q2's Mia Lithium Project. The Sakami Property covers a combined ~37km under-explored strike length potential and Radisson East a combined ~15km of strike length - representing compelling targets for future exploration. No lithium focused exploration has been conducted at either of the Properties.
In addition to covering extension strike length of Archean-aged Guyer greenstone structures, several Quebec provincial dataset lake sediment results returned >95 percentile for lithium anomalism proximal to the Sakami Property.
Geologically, the Sakami Property is covered by a series of granites, granodiorites and quartz-feldspar-biotite gneisses and importantly, coarse grained pegmatites have been mapped previously:
"The southeast part of the Project is covered by principally a series of granites and granite gneisses pinkish-white, medium to coarse grained, migmatized and cut by pegmatites. These are followed to the north by white well banded tonalites to tonalite gneisses with some migmatized sections and pegmatites. There are occasional bands of mafic gneisses with quartz, feldspar, biotite and hornblendes that occur on the Project" - Link to report (GM60026).
The original acquisition of the Sakami Property was on the basis of government airborne magnetic results where the 1st vertical derivate confirms the significant strike length of greenstones present, as well as a clear ‘bend' in the greenstone belt within the central part of the Sakami Property which is believed to have created accommodation space for the emplacement of lithium bearing pegmatites, similar to what is found at the Corvette Lithium Project. Similarly, the Raddison East Property covers extended strike length extensions of magnetic low structures with intrusive geological units mapped across the Property.
Discovery Lithium CEO Mike Hodge comments: "The acquisition of these new properties significantly enhances our exposure to greenstone structures, a crucial component in lithium exploration. With these promising assets, we are well-positioned to take advantage of Quebec's rich mineral landscape."
Terms of the Acquisition
Pursuant to a sale agreement dated July 24, 2024, among the Company and the Vendor (the "Vendor"), the Company has agreed to acquire a
The completion of the Acquisition is subject to the acceptance of the Canadian Securities Exchange (the "CSE"). The Discovery Shares to be issued on Closing will be subject to a hold period expiring four months and one day following Closing.
Qualified Person
The technical content of this news release has been reviewed and approved by Mike Kilbourne, P. Geo., (OGQ # 1971) who is an independent Qualified Person (QP) as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For more information please visit: www.discoverylithium.com.
On behalf of the Board of Directors,
Mike Hodge
Chief Executive Officer
About Discovery Lithium (CSE:DCLI)(OTCQB:DCLIF)(FRA:Q3Q0)(WKN:A3EFKA)
Discovery Lithium Inc. is a Canadian exploration company focused on advancing mineral resource projects in North America. The Company holds a
For further information, please contact:
Discovery Lithium Inc.
1450 - 789 West Pender Street
Vancouver, BC, Canada V6C 1H2
Telephone: +1 (778) 868-2226
Email: info@discoverylithium.com
Web: www.discoverylithium.com
Caution Regarding Forward-Looking Information
Certain statements contained in this news release may constitute "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", "potential", "indicative" and similar expressions. Forward looking information in this news release includes, but is not limited to, that the closing of the Claims acquisition will occur, including the payment of the share consideration and the grant of the net smelter royalty. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of risks and uncertainties inherent in the exploration and development of mineral properties, fluctuations in commodity prices, counterparty risk, market conditions, regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
Neither the Canadian Securities Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: Discovery Lithium Inc.
View the original press release on accesswire.com
FAQ
What properties is Discovery Lithium Inc. (DCLIF) acquiring in Quebec?
How much strike length potential do the newly acquired properties have?
What are the terms of Discovery Lithium's (DCLIF) acquisition agreement?
Has there been any previous lithium exploration on the properties acquired by Discovery Lithium (DCLIF)?
