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Refined Metals Announces Acquisition of Horizon South Lithium Property in Tonopah, Nevada
VANCOUVER, British Columbia, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Refined Metals Corp. (CSE: RMC) (OTC: RFMCF) (FRA: CWA0) (the “Company” or “Refined”) is pleased
About this update from Refined Energy Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Refined Metals Corp. (CSE: RMC) (OTC: RFMCF) (FRA: CWA0) (the “Company” or “Refined”) is pleased to announce that it has entered into a property option agreement (the “Option Agreement”) with Horizon South Lithium Corp. (the “Vendor”) pursuant to which the Company has been granted the right to acquire a 100% interest in the Horizon South Lithium Property (the “Property”). The Property is comprised of 381 unpatented lode mining claims covering approximately 7,900 acres of land, located in the Big Smoky and Monte Cristo Basins of Esmeralda County, Nevada. The Company intends to explore the Property to determine the extent, if any, of claystone-hosted lithium mineralization. The Property is adjacent to Pan American Energy Corp’s Horizon Lithium Project which is permitted to drill 22 holes in the coming months. Nearby is American Battery Technology’s Tonopah Flats project, which is a recipient of the DOE Bipartisan Infrastructure Law grant for USD $10 million to develop a commercial processing facility for lithium hydroxide. Additionally, General Motors announced intentions to invest USD $650 million in American Lithium which hosts the TLC deposit in the region. There continues to be active consolidation in the region with significant support from the government for development, including a USD $700 million loan for Ioneer’s Rhyolite Ridge project. Aman Parmar, Chief Executive Officer, comments, “The Property is in a highly sought after region and we are tremendously excited to acquire a property in such a high caliber neighbourhood. Nevada and the Tonopah jurisdiction are getting incredible support from federal, state, and county governments and have also emerged as leaders in lithium exploration and development. This has led to the increased interest in domestic lithium that has been driven by the electric vehicle and battery storage markets. The Agreement presents the Company with the ability to begin advancing the Property with exploration programs, which will also help us develop drill targets.” Figure 1 – Horizon South Property Location Figure 2 – Horizon South Regional Map Figure 3 – Horizon South Detailed Claim Map Option Agreement Terms Pursuant to the terms of the Option Agreement, the Company has the option to acquire a 100% interest in the Property from the ...