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St. Anthony Gold Corp. To Acquire a 75% Interest in Brazilian, Highly Prospective Lithium & Rare Earth Projects21.10.2022 | 9:00 Uhr | Accesswire
VANCOUVER, October 21, 2022 - St. Anthony Gold Corp. ("St. Anthony" or "the Company") (CSE:STAG) (Frankfurt:M1N) (OTC PINK:MTEHF) has entered into a non-binding Letter of Intent (LOI) with Foxfire Metals Pty Ltd ("Foxfire"), an Australian Company, pursuant to which the Company intends to acquire a 75% interest in eight Brazilian exploration licenses ("the Brazilian Portfolio"); six for lithium and two for rare earth elements (REE). The Brazilian Portfolio The Minas Gerais Project
Bahia Lithium Project
Goas REE Project
Commenting on the Transaction, Peter Wilson, CEO of St. Anthony stated, "We are excited about the proposed acquisition of a 75% interest in these highly prospective lithium and rare earth elements projects across three states in Brazil. Over the last number of months, management has been reviewing a range of potential acquisition opportunities to diversify our project portfolio; we believe that, given the location and commodity, these projects offer the Company the best opportunity to increase shareholder value." "Brazil has seen increased interest from junior explorers and major mining houses, with the region being home to a number of lithium projects. The proposed (Foxfire) licenses provide an exciting opportunity for early-stage, green field exploration in a known lithium province, particularly given the close proximity of Sigma's property (~38km)." "Our team will continue diligence work with the aim of initiating a maiden exploration program in November 2022. I am excited to be part of this new venture for St. Anthony and look forward to updating stakeholders and shareholders in due course." Commercial Terms of the Transaction The transaction allows St. Anthony to acquire an immediate 75% interest in the Brazilian Portfolio upon signing of the LOI and agreeing to:
Proposed Initial Exploration and Study Activities An exploration program is being prepared to map and locate potential pegmatites for lithium as well as for REEs with the aim of identifying immediate drill targets. The technical information contained in this news release has been reviewed and approved by Dr. Paul Woolrich (BSc Geology, MSc Geochemistry, PhD Metallurgy) who is a Member of the MAusIMM and a Qualified Person as defined under National Instrument 43-101. FOR ADDITIONAL INFORMATION SEE THE COMPANY'S WEB SITE AT Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. Further information about the Company is available on www.SEDAR.com under the Company's profile. SOURCE: St. Anthony Gold Corp. View source version on accesswire.com: https://www.accesswire.com/721536/St-Anthony-Gold-Corp-To-Acquire-a-75-Interest-in-Brazilian-Highly-Prospective-Lithium-Rare-Earth-Projects Dieser Artikel stammt von Rohstoff-Welt.de
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