Volta Metals Ltd (CSE:VLTA) announced that it has acquired three additional claims in northwestern Ontario, adjoining and near to its Falcon West lithium project.
One purchase adds 820 hectares in two claims, one between its Falcon West and Crescent Lake lithium projects and the other alongside Falcon West.
The company will pay $31,000 in cash and issue 400,000 shares to own 100% interest of the two newly acquired claims, while also granting the vendors a 1.5% net smelter returns royalty.
It said the new additions provide additional ground to explore within the highly prospective greenstone belt, increasing the total contiguous land position to 5,290 hectares.
The third acquisition is the 'Lee Creek' project, which consists of multiple claims located north of the Seymour lithium deposit, where a mineral resource estimate by owner Green Technology Metals calculated 10.3Mt at 1.03% Li2O.
Volta noted that the Seymour project and Midex Resources's Crescent Lake project both have outcropping lithium-bearing pegmatites, while the property is situated in mafic and intermediate metavolcanics of the Marshall assemblage, well known for its base metal potential.
An Ontario Geological Survey work in 2002 indicated that anomalous lithium, caesium and tin occur in the area, but no known exploration has been undertaken for rare metals in the claim block area and vicinity since the OGS work, the company added
Technical advisor, Dr Fred Breaks, said: "The additional properties situated along the Pashkokogan fault system now provide the company with a total strike length of 17 km along this important structural corridor that apparently controls all known spodumene pegmatites in the Falcon Lake pegmatite group.
"The Marshall property has never been explored for lithium and has documented base metals and gold mineralization that adds to the company's diversification."