Noka Resources Inc. terminated its option to acquire an interest in the Columbus lithium project and sold its interest in the Lincoln lithium project to an arm's-length vendor for C$100,000. Both projects are in Nevada.
Meanwhile, the company secured an option to wholly acquire the Tully West property located to the west of the Tully/Timmins North gold deposit in Ontario.
Noka on Jan. 19 said it now plans to focus on high-grade gold and uranium projects.
The company has to pay C$215,000, issue 3.9 million common shares and spend about C$1.3 million on exploration on the property over three years to fully acquire Tully West.
The property is subject to a 2.5% net smelter return royalty, of which 1 percentage point can be acquired for C$1.0 million.