To avoid further delay to its European lithium development strategy, Novo Lítio Ltd. said Dec. 11 that it has decided to increase its focus on its other projects as it continues to advance legal action in connection with the Sepeda lithium project in Portugal.
In September, the company launched legal proceedings against the owners of the Sepeda project and an associated company, seeking an interlocutory injunction to protect its interests in the granted license applications comprising the project.
The company will seek to generate new drill targets on its granted tenements in the northern Portugal lithium belt in the coming months. It also expects Portugal's Directorate General for Energy and Geology to grant several of the company's applications in near future.
Desktop studies have already been completed on these applications and field crews are ready to commence work as soon as the tenements are granted.
Meanwhile, drill permits for Novo's Spodumenberget lithium project in Sweden were granted last week and the company intends to kick off drilling in the first quarter.
Additionally, the company is also assessing other potential acquisition targets in Portugal and in Europe to bolster its lithium development strategy.
