Lithium mineralization open to the East (on BRW) per ALLKEMThank-you to a poster on CEO.CA who posted a news release which included some comments made by Allkem.
They CONFIRM that lithium mineralization is OPEN to the East of their property which is BRW land.
Cannot get any easier than this.
Here are the comments:
Lithium Royalty Corp. James Bay Royalty Highlights
- 1.5% net smelter revenue royalty, covering a portion of the mineral resources at James Bay Lithium Project.
- One-third of the royalty is subject to a buy-back right for USD$365,000
- Net of the buyback the acquired royalty is expected to produce approximately USD$3,000,000 of annual royalty cash flows to Lithium Royalty Corp at current market prices for Spodumene Concentrate when mining of the claims occurs.
- LRC paid an all cash consideration of USD$1,800,000 to the third party vendor.
- This acquisition is accretive to Net Asset Value per share using LRC’s conservative underwriting assumptions.
- Allkem has recently completed 19,255m of resource extension drilling, which should directly benefit the Royalty Area.
- Allkem’s prior disclosures highlight that mineralization is open to the north and to the east presenting attractive optionality given the Royalty Area covers the eastern areas of the project.\
https://www.lithiumroyaltycorp.com/2023/03/16/lithium-royalty-corp-acquires-royalty-interest-on-the-james-bay-lithium-project-in-quebec/