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High Tide Resources Enters into Option Agreement to Acquire 100% of the Clearcut Lithium Project in Quebec
TORONTO, ON / ACCESSWIRE / July 14, 2022 / High Tide Resources Corp. ("High Tide" or the "Company") (CSE:HTRC) is pleased to announce that it has entered into a
About this update from High Tide Resources Corp.
[{"type":"text","content":" TORONTO, ON / ACCESSWIRE / July 14, 2022 / High Tide Resources Corp. (\"High Tide\" or the \"Company\") (CSE:HTRC) is pleased to announce that it has entered into an option purchase agreement (the \"Agreement\") to acquire a 100% interest in the Clearcut Lithium Project (the \"Property\") located in the emerging Cadillac-Pontiac lithium camp in the Abitibi Témiscamingue region southwest of Val d'Or, Quebec (Figure 1). The Property consists of 249 claims covering approximately 14,400 hectares within a network of logging roads allowing for good access and reduced exploration costs (Figure 2). Quebec MERN Report DP-338 issued in 1975 indicates that the Property is underlain almost entirely by granite with pegmatite. Steve Roebuck, Director, President & Interim CEO of High Tide states, \"Adding the Clearcut Lithium Project to High Tide's project portfolio is a low-risk and potentially high-reward opportunity for all our shareholders. Lithium is in high demand making Clearcut a natural fit alongside our Lac Pegma Copper-Nickel-Cobalt Project that further diversifies our battery metals projects along with our flagship Labrador West Iron Project.\" Companies already active in the Cadillac-Pontiac camp include Winsome Resources, Sayona Mining, Vision Lithium, Brunswick Exploration and Renforth Resources. On February 22, 2022, Vision Lithium reported 2.17% Li2O over 5.5 metres from a channel sample taken from its nearby Cadillac Lithium Property confirms the presence of spodumene-bearing pegmatite dykes in the Cadillac-Pontiac camp. Increasing worldwide demand for lithium from the nascent battery sector has focused exploration on areas of historical pegmatite-type lithium deposits. Since 2016 Sayona Mining Ltd. has accelerated exploration and development of the Authier lithium deposit and the recently acquired, past-producing North American lithium mine in the Preissac-Lacorne-Lamotte area located just 20 kilometres to the north of the Cadillac-Pontiac camp. This advanced activity has resulted in a keen interest in the lithium potential of Cadillac-Pontiac where traditionally there has been very little exploration due to the focus on the rich gold and volcanogenic-type base metal deposits found in the prolific Abitibi Greenstone Belt lying just to the north. Agreement Details Pursuant to the Agreement, the Company may acquire a 100%...