Lithium Corp. regained full control of the San Emidio lithium brine property in Nevada, after American Lithium Corp. failed to fulfill its obligations under the option deal.
In May 2016, the company agreed to option an 80% interest in San Emidio to 1067323 B.C. Ltd., which was later acquired by American Lithium.
American Lithium also had an option to increase its project interest to 100%.
The company said June 13 that it is assessing recent developments on the property as well as on third party lithium prospects in the area and will shortly determine its plans about moving the prospect toward development.