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Medaro Mining Corp. is a lithium exploration company based in Vancouver, British Columbia. The company holds options over various lithium properties in Thunder Bay, Ontario, Quebec, and Saskatchewan. Medaro is actively involved in the development and commercialization of a new process to extract lithium from spodumene concentrate. Recently, the company terminated its option agreement with Rock Edge Resources Ltd., announced promising drilling results at the CYR South lithium property in Quebec, and approved a consolidation of its common shares. Medaro is committed to advancing its projects and expanding its exploration activities.
Medaro Mining Corp. (CSE: MEDA) has launched its 2023 exploration fieldwork program on the Rapide Lithium Property in Val-d'Or, Quebec. The program aims to expand on the 2022 findings, which revealed lithium anomalies through soil sampling. Key objectives include:
1. Extending the soil grid to the north
2. Establishing two additional soil grids in the northern and southern sections
3. Conducting prospecting, mapping, and rock chip sampling of potential pegmatites
The program is expected to last 6-8 weeks, subject to weather conditions and fire restrictions. Medaro has also completed exploration work at the Darlin property, with over 240 samples awaiting analysis. CEO Michael Mulberry expressed enthusiasm for the program, highlighting the company's commitment to advancing exploration efforts and unlocking value within their portfolio.
Medaro Mining Corp. (CSE: MEDA OTC:MEDAF FWB:1ZY) has commenced Phase 2 exploration at its 100% owned Darlin lithium property in Val-d'Or, Quebec, Canada. The work program extends the 2022 soil grid to the east and north in the northern claim block and east-west in the southern claim block. This follows Phase 1 work in 2022 that identified lithium anomalies trending towards the east and northern parts of the property.
The objective is to identify new lithium targets for follow-up trenching and drilling. CEO Michael Mulberry expressed excitement about resuming exploration, considering Darlin a highly prospective lithium project in a favorable mining jurisdiction. The company believes the property has potential to host significant lithium pegmatite mineralization associated with regional structures and intrusions.
Samples will be processed using best practices and analyzed at Activation Laboratories in Ancaster, Ontario using the Ultratrace 7 code.
Medaro Mining Corp. (CSE:MEDA; OTC:MEDAF) announced a strategic reorganization involving the spin-out of its interest in Global Lithium Extraction Technologies Inc. (GLET) into a new entity called SpinCo. This move will enable SpinCo to independently develop and commercialize lithium extraction technology.
Shareholders will receive common shares of SpinCo in proportion to their holdings in Medaro as of the effective date. A non-brokered private placement will also be executed to fund SpinCo's working capital and research needs. CEO Michael Mulberry emphasized that this spin-out will unlock the value of GLET's technology while allowing Medaro to focus on its lithium and uranium exploration projects in Quebec and Saskatchewan. Further details will be provided as they become available, although the completion of the spin-out is not guaranteed.
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