Metal Energy Corp (TSX-V:MERG, OTCQB:MEEEF) CEO James Sykes joined Steve Darling from Proactive to share news the company has added to its portfolio with the acquisition of a Lithium Project in Northwestern Ontario called SourceRock. The project aligns with Metal Energy's focus on exploring materials for electric vehicles.
Sykes telling Proactive this project is perspective for Lithium and quite large covering 913 square kilometres. The project has numerous geological reasons supporting the high potential for Lithium brines within the Sibley sedimentary basin of the Thunder Bay-Nipigon area. This land package also has some comparisons with Chile's Salar de Atacama. SourceRock covers the deepest parts of the Basin with sedimentary thickness ranging from 500 m to 1,000 m, enhancing Li brine prospectivity. Sykes also told Proactive the company has exploration permits issued for preliminary target area of the original project and some proof of concept drilling is expected for Q3 or Q4 of 2023.