Lithium Power International Sale Transaction Completed for the Strelley Tenement

Lithium Power International today announced it has completed a transaction with Carnaby Resources covering the Strelley tenement, E454638, in the north of Western Australia.

Lithium Power International Limited (ASX:LPI) (FRA:24L) (OTCMKTS:LTHHF) today announced it had completed a transaction with Carnaby Resources Ltd (ASX:CNB) (Carnaby) covering the Strelley tenement, E45/4638, in the north of Western Australia.The transaction provides LPI some realisation of value for its asset, which to date had not provided any significant potential for lithium in the exploration and development work undertaken.

The basic details of the transaction are:

– The Company to be issued 1,250,000 fully paid ordinary shares in Carnaby.

– a 1% Net Smelter Return royalty for any gold produced from the tenement by Carnaby: and

– the Company to retain all mineral rights for lithium, caesium, tantalum and tin contained within the tenement.

Lithium Power International’s Chief Executive Officer, Cristobal Garcia-Huidobro, commented:

“This transaction with Carnaby provides LPI with some immediate value for Strelley, while retaining the lithium and other mineral rights over the tenement. The Company also retains its interest in WA, with our Greenbushes and Tabba Tabba tenements in particular continuing to show promise. We intend to continue exploration work on these tenements in the future.”
About Lithium Power International Ltd:Lithium Power International Limited (ASX:LPI) is a pure-play lithium explorer and developer, focusing on developing and fast-tracking to production the high-grade Maricunga lithium brine project in Chile. LPI has a well-known performing technical team with the experience to take the Maricunga project all the way through the development stages to production. The regions that LPI is currently focused on are: 1. Maricunga JV (Chile) Located within the “Lithium Triangle”, Maricunga is Chile’s highest grade and most advanced lithium project outside the Salar de Atacama. The project lies 170 km northeast of Copiapo and 250 km from the port of Caldera.2. Pilbara (Western Australia) LPI has three granted exploration tenements covering 203 km2 in the Pilbara region of northern Western Australia. The largest granted exploration tenement is the Pilgangoora tenement which is 2-3 km west of the Pilbara Minerals (ASX:PLS) and Altura Mining (ASX:AJM) lithium deposits. 3. Greenbushes (Western Australia) LPI has two granted exploration tenements covering 400 km2 in the Greenbushes area of southern Western Australia. The tenements are adjacent to the world’s largest hard rock lithium mine owned and operated by TianqiTalison. 4. Centenario (Argentina) Through its Argentinian subsidiary, Lithium Power holds a total of seven granted tenements in the Centenario lithium brine salar within the Salta province of the Puna Plateau. In total, the seven granted tenements cover an area of 68.46 km2. With the exception of the Maricunga JV, all tenements are 100% owned by LPI or LPSA (including rights to the Centenario tenements).

Source:

Lithium Power International Ltd

Contact:

Cristobal Garcia-Huidobro - CEO; 
or Andrew Phillips - CFO

Lithium Power International
E: info@lithiumpowerinternational.com
Ph: +61 2 9089 8723
www.lithiumpowerinternational.com
@LithiumPowerLPI

ABN/Asia Business Newswire
July 14, 2020 – 3:26 PM PDT
News by QuoteMedia

Torian Resources Limited Significant Gold Results from Surface at Mt Stirling

Perth, Australia (ABN Newswire) – Torian Resources Ltd (ASX:TNR) is pleased to advise that recent drilling results continue to extend the Mt Stirling Gold System over ~1.1km of Strike, ~300m at depth, and it remains open in multiple directions.

Highlights:

– The interpreted strike of the Mt Stirling gold system exceeds 1.160km with Mt Stirling Main Zone; Hanging Wall and Viserion lodes all remaining open along strike and down-dip.

Keep reading... Show less

eMetals Limited Updates Shareholders On Exploration – April 12, 2021

eMetals Limited (ASX:EMT) (eMetals or Company) is pleased to update shareholders on exploration activities which have commenced across the Company’s projects.

HIGHLIGHTS

Keep reading... Show less

Discovery Harbour Provides Newcrest’s Planned Program for Fortuity 89, Nevada

Discovery Harbour Resources Corp. (TSXV: DHR) (OTC Pink: DCHRF) (FSE: 4GW) (the “Company” or “Discovery Harbour”) is pleased to announce that Newcrest Resources Inc., a wholly owned subsidiary of Newcrest Mining Limited (“Newcrest”), has provided the details of its planned program for the Fortuity 89 epithermal gold property in Nevada.

The Fortuity 89 property covers very limited outcrop surrounded by a large covered area. The outcrop and interpreted geology are prospective for concealed low sulphidation epithermal gold mineralization below shallow unconsolidated alluvial gravels. Newcrest’s planned activities include a geophysical program encompassing a 675 line kilometre drone airborne magnetic survey, a 250 station ground gravity survey and a 45 line kilometre audio band magnetotellurics (AMT) resistivity survey. It is intended that geologic and alteration sampling and mapping will also be undertaken with a soil geochemical sampling program. The intended outcome of this program is to identify potential drill targets for testing this calendar year.

Keep reading... Show less

Blackdome-Elizabeth Gold Project 2021 Exploration Plan and Update

Tempus Resources Ltd. (“Tempus” or “the Company”) (ASX:TMR)(TSXV:TMRR) is pleased to provide an update on the exploration plan for the upcoming field season at the Blackdome-Elizabeth Gold Project, located in British Columbia, Canada

The 2021 exploration program at Elizabeth and Blackdome is fully permitted and on schedule to commence at the end of Q2, 2021. The program will consist of 7,500 metres of down plunge and along strike diamond drilling at Elizabeth to expand the known gold mineralisation, in parallel with detailed alteration and mapping studies at Blackdome in support of future resource expansion drilling.

Keep reading... Show less

Rio Tinto reaches agreement with Turquoise Hill Resources on financing plan for Oyu Tolgoi

Rio Tinto has entered into a binding Heads of Agreement (HoA) with Turquoise Hill Resources (TRQ) for an updated funding plan (the “Funding Plan”) for the completion of the Oyu Tolgoi (OT) Underground Project in Mongolia. The Funding Plan addresses the estimated remaining known funding requirement of approximately $2.3 billion 1 , building on and replacing the arrangements established in the Memorandum of Understanding that Rio Tinto and TRQ previously entered into on 9 September, 2020.

Under the HoA, subject to securing approval by OT LLC and any required support from the Government of Mongolia, and subject to timing, availability, and terms and conditions being acceptable to both parties, Rio Tinto and TRQ will:

Keep reading... Show less

Top News

Related News