The Allkem spodumene-bearing granitic pegmatite dykes could extend to the Lithium381 property which has never been drill tested. The lithium mineralization on the Allkem property deposit is within the mineral spodumene and the granitic pegmatite dykes are classified as the rare earth elements type (Li-Cs-Ta). The Lithium381 property has never been explored for lithium mineralization. The
"This option agreement marks Clarity's step towards diversifying its mineral portfolio into the exciting lithium space." stated Clarity CEO
Click on the following link to view Figure 1. Location of Lithium 381 Project showing nearby properties and total pit outline on Allkem's
The Lithium381 project consists of 21 mining claims totaling 1,108 ha (11.08km2) and lies within the Lower Eastmain River Greenstone Belt (LEGB) near the contact with the metasedimentary
The property is located 3km from the KM381 facilities operated by the Société de Développement de
The Corporation has granted Clarity an exclusive option to acquire a 50% interest in the Property (the "Option") for a total consideration of (i)
Upon the exercise of the Option, the Corporation and Clarity will form a joint venture to carry out further exploration activities and, if deemed viable, carry out development and mining activities on the Property. The parties agree to pay their pro-rata share of exploration expenditures going forward. Failing to do so will result in their respective interest being diluted. Closing of the transaction remains conditional upon regulatory approvals, as applicable, and other conditions customary for transactions of this nature.
The technical information contained in this news release was reviewed and approved by
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified using forward-looking terminology such as, "will be", "expected" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements, including statements relating to the exercise of the Option under the Option Agreement and the timing and amount of Expenditures funded by Clarity and statements relating to the expected findings on the Property, are based on the Corporation's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Corporation will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
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