Barisan GoldCorp. said July 18 that it has agreed to acquire a 100% interest inthe lithium-prospective Railroad Valley property in Nevada and the Black Canyonproperty in Arizona from DG Resource Management.
The Railroad Valley property consists of 199 placer claimstotaling 3,980 hectares and is perspective for lithium brine depositoccurrences.
The Black Canyon property consists of two exploration permitapplications totaling 360 hectares, and covers a lithium clay explorationtarget.
Under the terms, the company will pay C$100,000 in cash andissue 20,668,617 common shares to DG Resource in exchange for a 100% equityinterest in both the properties.
DG Resource will retain a 2% net smelter return royalty oneach property.
In association with this transaction, Barisan Gold willundertake a number of organizational changes, including name change, change ofofficers and directors and consolidation of the company shares.
This may also include the placement of all Indonesian assetsto an independent trust which will seek to maximize the value of such assets.The company will release further details ahead of its annual general meeting inthe next few weeks.