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Hertz Lithium Acquires Option to Acquire Patriota Lithium Project in the Aracuai Pegmatite District
HIGHLIGHTS: Hertz has entered into an assignment agreement pursuant to which it has acquired the option to acquire the prospective Patriota Lithium Project in t
About this update from Hertz Energy Inc.
[{"type":"text","content":" HIGHLIGHTS: Hertz has entered into an assignment agreement pursuant to which it has acquired the option to acquire the prospective Patriota Lithium Project in the mining friendly state of Minas Gerais in Brazil. These tenements are strategically situated proximal to the highly prolific 'Eastern Brazilian Pegmatite Province\" (the \"EBPP\") and within the Araçuaí Pegmatite District (the \"APD\"). The EBPP is the largest lithium pegmatite province of South America and one of the most important pegmatite provinces around the world. The Patriota Lithium Project is a 2,964 hectare (contiguous 29 square kilometers) mineral claim block in Brazil's Minas Gerais State, a mining-friendly jurisdiction located approximately 45 kms from Sigma Lithium Corp.'s Grota do Cirilo property, the largest lithium hard rock deposit in the Americas. The Patriota Lithium Project is located near other lithium exploration and production projects operated by Sigma Lithium Corp., Lithium Ionic, Latin Resources Limited and the Companhia Brasileira de Lítio Ltda.'s Cachoeira lithium mine. Although the Company believes the spatial association with these important advancing lithium deposits and mines supports the potential of the Patriota Lithium Project, is not necessarily indicative of the mineralization on the property. The location boasts advantageous infrastructure, comprising well-developed highways, access to hydroelectric power from the grid, water availability, and convenient proximity to commercial ports and residential townships. The option represents Hertz's first Brazilian project which is complementary to the Company's Lucky Mica Lithium Project in Arizona which continues to move through the permitting and progress to trenching phase Hertz plans to commence rapid exploration in the coming weeks and months. Vancouver, British Columbia--(Newsfile Corp. - August 14, 2023) - Hertz Lithium Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QE2) (\"Hertz\" and/or the \"Company\") is pleased to announce the acquisition of the option (the \"Option\") to acquire a 100% interest in the Patriota Lithium Project. The Company acquired the Option pursuant to the terms and conditions of an option assignment agreement (the \"Assignment Agreement\") entered into among the Company, Brascan Resources Inc. (\"Brascan\"), BHBC Exploracao Mineral LTDA (\"BHBC\"), and RTB Geologi...