$GEMS.C opened up 8% today after announcing that they've entered into an agreement to acquire up to 100% interest in the Galaxy Pegmatite Project in Quebec. A recent field survey of the Project site recovered a sample of lithium-bearing Spodumene. Further exploration is planned on the project in the coming weeks as well. Now, let's take a look at the Galaxy project and some of the important items backing the property.
- Covers 22 mineral claims and 2 pending claim applications covering 1,411 hectares in southern Quebec.
- Close proximity to infrastructure with access to the Trans-Canada Highway.
- Underlain by at least 30 pegmatite exposures representing 30 pegmatite dikes
https://ca.finance.yahoo.com/news/infinity-stone-enters-option-agreement-123000394.html
This will be a great addition to the already extensive battery material portfolio that $GEMS.C holds. With continued exploration efforts underway (for example the Buda Lithium project that commenced a couple of weeks ago) and the recent first tranche of the private placement raising over $200k, I'm looking forward to seeing how they're able to continue bringing results over the summer months.
Considering the company’s $12M valuation, it's definitely worth it to keep on the watchlist because of the consistent news flow and extensive portfolio of projects focusing on the rapidly growing battery metal industry.