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Tarku Acquires 100% of the MAX Lithium Property
MAX Lithium property located in same batholith and geology as and just 4 km southwest of the Nort...
About this update from Tarku Resources Ltd
[{"type":"text","content":"Tarku Acquires 100% of the MAX Lithium PropertyMAX Lithium property located in same batholith and geology as and just 4 km southwest of the North American Lithium mine, the only operating lithium mine in Quebec19 km2 property with road access, surrounded by spodumene-rich pegmatite showings and hosting several outcrops with as-yet untested potentialExploration program to commence soon, and will include detailed mapping and sampling to prepare next drill targetsMONTREAL, QC / ACCESSWIRE / March 1, 2023 / Tarku Resources Ltd (TSXV:TKU)(FRA:7TK)(OTCQB:TRKUF) (the \"Company\" or \"Tarku\") is pleased to announce the acquisition of a 100% interest in 28 claims (19.25 km2) forming the MAX Lithium property from prospectors (the \"Vendors\"). The property is located in Quebec, Canada, 45 km north of Val-d'Or and 4 km southwest of Sayona Mining's North American Lithium mine (proven reserves of 1.2 million tonnes grading 0.92% Li2O and probable reserves 28 million tonnes grading 0.96% Li2O (source: company press release dated May 23, 2022)).Julien Davy, President and CEO of Tarku Resources, said: \"This agreement presents a significant new opportunity for Tarku shareholders in the growing global lithium market. Quebec is a haven for high-grade, high-quality lithium, and this project has the advantage of being located on the same batholith and geological context as the only producing lithium mine in Quebec, with spodumene-rich pegmatite showings surrounding the property. The other interesting fact about this property is that it seems to have been overlooked by past explorers, despite its prime location. We intend to do aggressive exploration and drill the project as soon as possible.\"\"This new lithium project is also a good complement to our portfolio of quality gold and silver assets in Quebec and Arizona, where we'll continue to be very active this year, and fits with Tarku's established exploration strategy of exploring in overlooked, easily accessible areas with strong geological potential in safe jurisdictions,\" added Mr. Davy.Summary of the transaction to acquire the MAX Lithium propertyTarku can earn a 100% interest in the MAX Lithium property by issuing 4 million common shares of the Company (including escrow provisions to release one quarter of the shares in 4 months, one quarter in 8 months, one quarter in 12 months and the fi...