trending Market Intelligence /marketintelligence/en/news-insights/trending/wfek2Vf69rEilT7mogD9Wg2 content esgSubNav
In This List

Alix acquires Jackpot lithium property in Ontario

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Video

Path to Net-Zero: How are mining companies tracking?

Blog

The Big Picture for 2023: Will Economies See Relief from Knock-on Effects of Russia-Ukraine Conflict?

Case Study

Quantifying the Mining Sector's Equipment & Service needs for Business Development & Resource Allocation Strategy


Alix acquires Jackpot lithium property in Ontario

Alix ResourcesCorp. said April 13 that it is acquiring from arms'-length vendors theJackpot lithiumproperty in Ontario in exchange for the issuance of 2.4 million shares and by spendingC$350,000 on the property over a two-year period.

Alix will also grant the vendors a 1.5% net smelter return royaltyon the property, of which 1% may be repurchased for C$1 million.

A 1956 estimate by the Ontario Lithium Co. Ltd. pegged historicalresources at Jackpot, on just the Dyke No. 2 pegmatite zone, at 2 million tonnesat 1.09% lithium oxide.

"Alix now has lithium projects in Mexico and Canada andwill continue to seek and, if warranted, acquire quality lithium assets for itsgrowing portfolio," said President and CEO Michael England.

Alix acquiredin January the Gran 2 concession in Mexico's Sonora state. A month later, the companyinked an option for upto a 65% interest in the Electra lithium project, also in Mexico.