American Lithium Acquires Vanadium Asset
Date: Jan 25, 2019
Nevada-focused development company American Lithium (TSXV:LI) has furthered its presence in the battery metals space through the acquisition of a vanadium asset.
Nevada-focused development company American Lithium (TSXV:LI) has furthered its presence in the battery metals space through the acquisition of a vanadium asset.
The lithium explorer purchased a 100-percent stake in the Extinction Ridge vanadium project, also located in Nevada, from private company Alaska Nevada Mining.
The deal, which is still contingent on regulatory approval, will see American Lithium pay US$100,000, as well as issue 250,000 common shares.
The Extinction Ridge project, which is comprised of 52 claims, is located in what is considered a vanadium robust jurisdiction with several explorers and near term producers in the area.
In fact, American Lithium’s latest acquisition, Extinction Ridge, is positioned in the middle of a north-south trend between First Vanadium’s (TSXV:FVAN) Carlin project and Prophesy Development’s (TSC:PCY) Gibellini project.
“Extinction Ridge is a high-quality exploration asset that represents another critical metal in today’s energy sector and its location affords us the ability to conduct exploration programs concurrent with our related operations in Nevada,” American Lithium CEO Mike Kobler said in the press release.
