Vision Lithium Inc. has announced the arm’s length acquisition of a 100% undivided interest in 40 contiguous mining claims in the province of Quebec, Canada, which, together with an additional 31 claims staked by the company, will be collectively referred to as the Decelles property.
The transaction was completed pursuant to the terms and conditions of a definitive property purchase agreement entered into between the company, as purchaser, and Michèle Richard and Gabriel Béland, as vendors. Pursuant to the purchase agreement, Vision Lithium will pay to the vendors aggregate cash consideration of $10 000, issue a total of 250 000 common shares of the company, and will grant the vendors a 2% net smelter return royalty on the claims comprising the property acquired from the vendors, one-half of which may be repurchased by the company for $250 000.
The claims acquired from the vendors cover 2315.5 ha. (23 km2) and, together with the claims staked by the company, the property comprises a total of 71 claims covering 4109.7 ha. (41 km2). Two additional claims staked by the company have not yet been granted. The property is located approximately 55 km south of Val-d’Or, Quebec, and 75 km south-east of the company’s Cadillac Lithium property. The property is easily accessible year-round by way of well-maintained roads. Property prospecting in 2021 suggests the presence of numerous pegmatitic dikes. No historical exploration for lithium is recorded.
Yves Rougerie, President & CEO comments:
“The Decelles claims are an interesting addition to our growing portfolio of lithium properties. The property is located south of Val d’Or along well maintained secondary roads, ensuring easy access for logistics, materials, and qualified manpower. Since our acquisition of the 332-claim Cadillac property, almost 1300 new claims have been staked by third parties to the East, South, and West of our property. The Decelles claims are located at the eastern end of this recent staking frenzy. The whole area is underlain by the Pontiac sediments which are intruded by a wide variety of intrusives. These suites of intrusives are the likely sources of the numerous pegmatites. Differentiating lithium, or LCT dikes, is the job at hand. The Decelles property itself is host to numerous large pegmatitic dikes. No previous exploration for lithium is recorded in the area. We plan to explore the property starting by prospecting, sampling, and analysing as many pegmatitic outcrops as possible after the thaw. However, a property-wide close-spaced high-resolution airborne magnetic survey (MAG) will be completed in the month ahead.”
The transaction remains subject to the approval of the TSX Venture Exchange.
Read the article online at: https://www.globalminingreview.com/mining/10032022/vision-lithium-acquires-new-lithium-property-in-quebec/