Canada-based firm Beyond Minerals has acquired 100% interest in 15 contiguous mining concessions.
These include Lithos Minerals’ Peggy Group lithium asset in Ontario.
agreements reached
Under the settlement, Beyond Minerals will pay Lithos Minerals an aggregate amount of US$125,000 in cash.
and will issue a total of 2,500,000 Beyond Minerals Common Shares.
Beyond Minerals will consider 1.5% net smelter return royalty on claims.
Lithium present
In addition, Beyond Minerals said that Peggy Group’s lithium property is an addition to its portfolio of lithium properties and other mineral assets.
“Pygy is hosted within metasediments in contact with muscovite-rich granitic rocks,” he said.
Metasediments are excellent hosts for lithium-rich pegmatites, he said.
mining details
With an area of approximately 7,386 hectares, the Peggy Group property is located approximately 80 km north of Sioux Lookout in Ontario.
The lithium property is located 8 km south of the McCombe-Root lithium project, which is owned by Green Technology Metals.
In addition, Beyond Minerals plans a non-brokered private placement of up to 3,750,000 of its common shares.
The firm plans to use the proceeds from the private placement to finance exploration work on some of its assets.
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