Standard plans on exploring for lithium in Quebec’s vast territory where the only hard rock lithium production was ever carried out in North America.
Standard’s properties are located within the 2 major lithium districts of Quebec; the Abitibi and James Bay regions.
The Property covers a total area of approximately 1150 hectares over highly prospective geology. Historical data* make mention of grades of up to 0.8% LiO2 which compares favorably with the cut-off grades used for the feasibility at the 2 most advanced projects in Quebec**.
According to the terms of the agreement, subject to TSX Venture Exchange approval, Standard will make a $2500 cash payment and issue 6,000,000 shares to seller for the acquisition of a 100% interest in the claims.
The seller will retain a 2% NSR on the claims of which 1% can be bought back for $1M at any time following the acquisition.
