Two companies — Lithos (ME) and Raymor Resources (ASE) — have acquired a lithium property in Lamothe Twp. in northwestern Quebec.
Each company has bought a half interest from Georges Dumont, who will receive, in aggregate, $150,000, as well as a 3% royalty.
A preliminary reserve estimate of 4.5 million tons grading 1.07% Li2O has been calculated for the property. Based on drilling work, it is estimated that 3.25 million tons grading 1.08% are contained above 200 ft., and that 1.3 million tons grading 1.05% exist below 200 ft.
Meanwhile, Lithos has approached Raymor about earning a 25% interest in the former’s lithium refinery project.
Be the first to comment on "NEWS ROUNDUP — Lithos, Raymor strike deal"