Canadian gold exploration company Solstice Gold has acquired the Church Lake project and has the option to acquire a 100% interest in the Purdom project, located near the Frazer Lake area in Nipigon, Ontario, mining-technology.com reported.
Solstice reached an agreement with 1544230 Ontario and Gravel Ridge Resources (“optioners”) to buy the option to acquire the optioners’ stake in the Purdom project.
Solstice has agreed to pay C$21,000 ($15,488) in cash within ten days and issue 300,000 shares to the optioners.
With these acquisitions, Solstice added 96km of strategic land for lithium pegmatite exploration. The Church Lake project covers 55 sq km of area with 261 claims and the Purdom project spans 41 sq km with 14 claims.
The Church Lake project is 5km south of Pegmatite One Lithium’s (PGA) claims, which host a new lithium-caesium-tantalum (LCT) pegmatite discovery.
Alex Shishlo for Rough&Polished
