Six Sigma Metals Ltd. decided not to exercise its option to acquire an interest in Mirrorplex Pty. Ltd.

Under the option agreement signed in May, the company could acquire up to an 80% interest in the Chuatsa vanadium-titanium project and the Shamva lithium project in Zimbabwe through a three-phased earn-in.

The company said Oct. 19 that independent members of the board believe that the option would not add value for the company, and instead, there is greater value in its current base metal assets in Botswana, and it will shift its focus there while continuing to identify and evaluate alternative opportunities.

The company further said it intends to conduct geophysical surveying across Dibete and Airstrip within its Magogaphate nickel-copper project in Botswana.