Nevada Sunrise Gold Corp. and Advantage Lithium Corp. agreed to acquire a 100% interest in the Triton lithium property in Nevada's Esmeralda County, according to a June 7 release.
The Triton property consists of 19 unpatented claims, totaling about 154 hectares, and is contiguous to Albemarle Corp.'s Silver Peak lithium brine mine and Pure Energy Minerals Ltd.'s Clayton Valley South property.
The acquisition is subject to an area of interest clause contained within the property agreement for the Clayton Northeast project, currently owned 51% by Advantage and 49% owned by Nevada Sunrise.
Advantage can increase its ownership interest in Triton and Clayton Northeast to 70% by continuing to fund property exploration and tenure costs. To date, the company has funded over C$2.0 million of its C$3.0 million earn-in commitment.