ION Energy Ltd. (TSX-V:ION, OTCQB:IONGF) has bolstered its lithium portfolio with the acquisition of two new claims in Canada’s Northwest Territories (NWT).
The acquisition of the approximately 900-hectare Little Nahanni claims, situated in an area rich with pegmatites, is poised to significantly enhance ION’s ongoing lithium exploration initiatives in the region.
Toronto-based ION also finalized the acquisition of the Bliss Lake lithium pegmatite project in NWT.
The acquisition transaction involved the issuance of 571,428 company shares to the vendors, valuing the shares at $0.25 each, totaling a deemed value of $128,571. This immediate consideration package also features provisions for deferred equity-based components for the vendors, contingent on future exploration results from the Bliss Lake project.
In a statement, ION Energy sees the Little Nahanni claims as a latent opportunity for substantial lithium discovery, with the potential to forge mutually beneficial collaborations with regional stakeholders.
“What an exciting time for ION Energy: while we work towards an inferred resource calculation this Fall at our prized Urgakh Naran Brine asset in the booming mining jurisdiction of Mongolia in such close proximity to China, we have now identified and acquired further assets in a Tier 1 region,” CEO Ali Haji said.
“Each of these new assets provide the company with exposure to proven pegmatite lithium districts in the Northwest Territories. ION’s long term vision of exploring and developing high quality lithium resources in strategic jurisdictions as the world continues to electrify, is materializing rapidly.”
The acquisition of the Bliss Lake and Little Nahani projects in NWT significantly enhances ION’s lithium asset and jurisdiction profile.
The firm’s flagship Baavhai Uul lithium brine project represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the large Urgakh Naran licence in Dorngovi Province in Mongolia, with highly prospective lithium brine.