New Energy Metals Corp. entered into an option to acquire 100% interest in the Victoria project, its sixth cobalt exploration project in Chile's San Juan cobalt district.
The company is required to pay US$2.6 million and issue 2.6 million shares by March 2022, according to a May 29 statement.
New Energy said it has started an exploration field program on the property comprising a compilation of historical data, regional mapping and prospecting, and sampling to identify priority areas for follow-up work.
