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High Tide Resources Enters into Option Agreement to Acquire 100% of the Big Bang Lithium Project in NW Ontario
TORONTO, ON / ACCESSWIRE / February 9, 2023 / High Tide Resources Corp. (" High Tide " or the " ...
About this update from High Tide Resources Corp.
[{"type":"text","content":"High Tide Resources Enters into Option Agreement to Acquire 100% of the Big Bang Lithium Project in NW OntarioTORONTO, ON / ACCESSWIRE / February 9, 2023 / High Tide Resources Corp. (\"High Tide\" or the \"Company\") (CSE:HTRC) is pleased to announce that it has entered into an option agreement (the \"Agreement\") to acquire a 100% interest in the Big Bang Lithium Project (\"Big Bang\" or the \"Property\") located about 275 km northeast of Thunder Bay, Ontario near the town of Geraldton (Figure 1).Steve Roebuck, Director, President & Interim CEO of High Tide states, \"We are very pleased to announce the acquisition of our second lithium project which we are naming the \"Big Bang Lithium Project\" in NW Ontario. We continue to focus on identifying and acquiring high-quality lithium projects in top mining jurisdictions like Quebec and Ontario.\"Big Bang represents our second lithium project acquisition in less than one year and is similar to our 14,400-hectare Clearcut Lithium Project in Quebec (see press releases dated July 14, 2022 & January 23, 2023). Big Bang is road accessible and is located approximately 15 kilometres south of Highway 11 near the mining town of Geraldton and connected via a network of logging roads. Having road and trail access will enable the Company to keep explorations costs low while efficiently covering more ground than a remote helicopter supported exploration program. Additionally, being located in NW Ontario will provide access to regional lithium processing hubs which are currently in the planning stage.The 6,267-hectare property consists of 17 mineral claims within the Thunder Bay Mining Division and is located ~70 km east of Rock Tech Lithium's advanced-stage Georgia Lake property which hosts a 10.60 MT @ 0.88% Li2O Indicated Resource and a 4.22 MT @ 1.00% Li2O Inferred Resource with production targeted for H2 - 2024.Mapping in the Big Bang area in 1939 identified several instances of ‘granite' pegmatite. However, mapping during this era did not recognize, or document, various other ‘types' of pegmatites which contain important mineralogical information. Of importance is that there are pegmatite dyke-like features mapped on the Property within muscovite-bearing granites and intruding metasediments.Agreement DetailsPursuant to the Agreement, the Company was granted the option ...