New Energy Metals Acquires Lithium Project In Chile
New Energy Metals Corp. (TSXV: ENRG) says it has entered into an option agreement to acquire a lithium project in the Atacama Salar district of Chile. The Atacama Salar hosts a significant portion of the world's known lithium reserves and produces around one-third of global lithium output from two production facilities operated by Sociedad Quimica y Minera and Rockwood Lithium (Albemarle). The Atacama lithium project concessions cover an area of approximately 66,000 hectares, and New Energy says the proximity to existing production indicates exploration potential. New Energy says it can earn a 100% interest in the project through cash and share payments. "We are excited with the opportunity to acquire a project in a region recognized as having the world's highest-grade and largest producing lithium brine salt flat,” says Grant Ewing, president and chief executive officer. “This opportunity is viewed as a strategic acquisition by the company as it believes that potential value creation opportunities could arise in the future as a result of the transaction."
By Allen Sykora of Kitco News; email@example.com
Continental: Buriticá Project On Schedule For 2020 Gold Pour
Wednesday May 30, 2018 09:24
Continental Gold (TSX: CNL), a development-stage gold-mining company, says the Buriticá project in Colombia remains on schedule for the first gold pour in the first half of 2020, with commercial production ramp-up anticipated approximately six months later. The Buriticá project is 30% complete with approximately 50% of total project cost committed to date, the company says. “As we move forward with our commitment to build Colombia’s largest modern underground gold mine, we are grateful for the continuing support of not only the various government agencies we work with, but also our local communities,” says Donald Gray, chief operating officer.