TIE Updated Portfolio Jan 2023 Other Lithium Portfolio CTI holds the following investments in the Company’s lithium portfolio aside from its 10,000,000 shares of Quebec Pegmatite Corporation:
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Patriot Battery Metals Inc. (ASX: PMT) – The Company currently holds 1,951,200 common shares of Patriot Battery.
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Hertz Lithium Inc. (“Hertz Lithium”) – The Company currently holds 3,000,000 common shares of Hertz Lithium. Hertz Lithium has filed a preliminary long form prospectus on November 22, 2022 to qualify its initial public offering (“IPO”). It intends to complete the IPO by the end of first quarter of 2023 and begin trading on the Canadian Securities Exchange under the symbol “HZ”. Hertz Lithium owns the Lucky Mica Lithium project in Arizona Pegmatite Belt and also holds an option to develop lithium extraction patented technology in partnership with Penn State University.
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Power Metals Corp. (“Power Metals”) (TSXV: PWM) – The Company currently owns 3,000,000 common shares of Power Metals. Power Metals owns a 100% interest in the Case Lake Property. The Case Lake Property is located 80 km east of Cochrane, northeastern Ontario close to the Ontario-Quebec border. The Case Lake Property consists of 585 cell claims in Steele, Case, Scapa, Pliny, Abbotsford and Challies townships, Larder Lake Mining Division. The property is 10 km x 9.5 km in size with 14 identified tonalite domes. The Case Lake pegmatite swarm consists of six spodumene dykes: North, Main, South, East and Northeast Dykes on the Henry Dome and the West Joe Dyke on a new tonalite dome.
Recently, Winsome Resources acquired 7,500,000 common shares of Power Metals and 7,500,000 common share purchase warrants of Power Metals from Sinomine Rare Metals Resources Co Ltd. (“Sinomine”) for total cash consideration of $2,000,000. Each warrant entitles the holder thereof to acquire one share of Power Metals at CAD$0.40 per share, expiring on 17 March 2025. Winsome Resources has also agreed to assume all of Sinomine’s rights and obligations under the offtake agreement that was entered into between Sinomine and Power Metals dated March 16, 2022.
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Winsome Resources Inc. (ASX: WR1) – The Company owns 50,000 common shares of Winsome Resources. Winsome Resources recently reported drill intercepts at its Adina Project in James Region of Quebec as summarized above.
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Superior Mining International Inc. (TSXV: SUI) – The Company anticipates receiving 7,000,000 common shares of Superior (the “Superior Shares”) upon closing of the Option. In addition, the Company anticipates receiving 3,500,000 Superior Shares payable on the one year anniversary of the Option Agreement and 3,500,000 Superior Shares payable on the 18 month anniversary of the Option Agreement, all subject to the approval of the TSXV.
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Manning Ventures Inc. (“Manning”) (CSE: MANN) – the Company holds 7,767,000 common shares of Manning. Manning is conducting exploration at Bounty Lithium Project. Bounty Lithium Project is located within the Eastmain Greenstone Belt in the James Bay Pegmatite District of west-central Quebec. It is prospective for hosting hard-rock, pegmatite-hosted lithium mineralization. The project now contains 62 pegmatite target areas, many with previously defined indicator-mineralogy and indicator-chemistry for hosting Lithium-Cesium-Tantalum style, spodumene-bearing pegmatites. Manning also has a 100% interest in the Dipole lithium project. The Dipole lithium project is located approximately 50 kilometres along strike from the recent Kraken lithium zone discovery by of Sokoman Minerals Corp. and Benton Resources Inc. The Kraken discovery spurred an early 2022 regional metallogenic study of Southern Newfoundland by Dahrouge Geological Consulting which resulted in findings suggestive of hosting Lithium-Cesium-Tantalum type pegmatite and/or Tungsten mineralization and acquisition of the Dipole Lithium Project.
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Rockland Resources Ltd. (“Rockland”) (CSE: RKL) – The Company currently owns 3,100,000 common shares of Rockland. Rockland carried out sampling at their Lithium Butte property in May 2022, comprising ten grab samples with a peak values of 4,080 parts per million lithium (ppm Li), with five grab samples of the tuff-breccia that had strongly developed clay alteration averaging 2,142 ppm Li. Additional sampling in July returned a continuous interval of 25.2 metres at 1,388 ppm Li, including 8.0 metres at 2,155 ppm Li and 0.7 metre at 3,540 ppm Li. Activities since July have included geological mapping, extensive. In addition to its Lithium Butte Property, Rockland is acquiring the 41,818-hectare Elektra claystone project concessions that are contiguous with Gangfeng Lithium’s Sonora Lithium Clay Project located in Sonora, Mexico.
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Other assets. Coloured Ties also holds other public and private company investments and those are detailed on the Company’s Issuer Bid Circular Filed on Sedar.com on December 8, 2023