BlueBird Battery Metals Inc. entered into a binding letter of intent to acquire the rights, title and interest in the granted exploration licenses of the Ashburton cobalt-manganese prospective project in Western Australia.
Under the terms, the company is required to pay C$25,000 and issue shares valued at C$1.5 million over a two-year period, according to a June 12 release.
The Ashburton project spans 189 square kilometers and comprises the Capricorn, Jessice Bore and Edmund tenements. It increases BlueBird's portfolio of cobalt-focused projects in the Australian state to 231 square kilometers.
BlueBird Battery recently agreed to acquire Australian explorer Oberon Gold Pty. Ltd., which holds the high-grade Sandy Point cobalt property and the polymetallic Reedy Creek property in New South Wales.
