Alderan Resources Limited (ASX: AL8) has executed a binding share sale agreement to acquire 100% of the issued capital in Parabolic Lithium Pty Ltd, which has the right to acquire a 100% interest in seven lithium exploration projects in the mineral resource rich state of Minas Gerais, Brazil.
Managing director of Alderan, Scott Caithness, commented on the agreement: “The acquisition of Parabolic’s large and highly prospective granted tenement package in an established lithium district in Brazil is a very exciting development for Alderan and represents the successful culmination of project generation focused on securing high potential critical metals exploration opportunities.
“Brazil’s Eastern Lithium Belt is one of the world’s premier lithium provinces with operating lithium mines and recent major discoveries made by Sigma Lithium Corporation and Latin Resources Ltd. Parabolic has an established in-country team with significant experience in identifying lithium prospective areas and has offered to assist Alderan to fast track its on-ground exploration activities which are planned to commence in Q4, 2023.”
The projects cover 472km2 and consist of 24 granted exploration licences in seven project areas, Curral de Dentro, Minas Novas, Carai, Catuji, Itaipe, Itambacuri, and Governador Valadares. The projects are all located in and immediately to the south of Lithium Valley in the Eastern Lithium Belt of Eastern Brazil. Minas Gerais produces 75% of world niobium, 53% of Brazilian iron ore, and is also a large producer of gold, zinc, and phosphate. It is home to over 300 operational mines and 40 of Brazil’s largest 100 mines.
To find out more, please visit www.alderanresources.com.au
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