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Saint Jean to acquire 27 additional claims near its Whabouchi lithium project

Saint Jean Carbon Inc. entered into an agreement to acquire a large block comprising 27 mineral claims, covering 1,458 hectares in Quebec's James Bay region.

The new claims are contiguous to the company's Whabouchi lithium project and increase its lithium holding to 109 claims in the area, according to a Sept. 30 release.

Under the terms, the company will issue 1 million shares to the vendors upon Toronto Stock Exchange Venture Exchange approval.

The company plans to immediately start compiling historical geological data relevant to the property.

Saint Jean Carbon will then undertake a multiphase exploration program in late October or early November, comprising prospecting, mapping and geophysical surveys followed by a diamond drilling program, depending on favorable results.