Silverton Metals Corp (TSX-V:SVTN, OTCQB:SVTNF), the Mexico-focused silver explorer, said its board of directors has approved a move to change the company's name to Lodestar Battery Metals Corp and that it had reappointed its former finance chief Killian Ruby to the same role.
The company said the new company name "better reflects" its focus on exploration and development of lithium and silver projects.
Ruby, who also becomes a director, replaces the company's outgoing chief financial officer Kyle Appleby and also replaces director Gunther Roehlig.
Ruby, the president and CEO of Malaspina Consultants Inc, is Silverton Metal's former chief financial officer and has 'extensive' experience working with the company.
"On behalf of the Board and management, I'd like to thank Mr. Roehlig for his support of Silverton," said Lowell Kamin, the CEO of Silverton, in a statement.
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"I am excited for Silverton to move into this next chapter and to expand our focus to include lithium exploration and development. Mr. Ruby's dynamic finance experience and previous knowledge of the company gives me confidence in our ability to execute on our new strategy as Lodestar Battery Metals Corp."
Also in the statement, the company said it is set for a resource estimate at its silver-focused Penasco Quemado project in Sonora state, having hired Micon International Limited to prepare it.
A drilling program in 2006 outlined a historical measured and indicated (M&I) silver resource of 9.63 million ounces at 117 grams per ton (g/t).
The mineralization has been traced along a 2 kilometre (km) strike length and drilling to date has been relatively shallow, less than 100m and mainly focused on the silver-bearing conglomerate.
Silverton also revealed in the statement that it has chosen to relinquish its Pluton property in Durango state, to allow it to focus resources on its core silver and lithium properties.
The name change is subject to acceptance by the TSX Venture Exchange.
Contact the writer at giles@proactiveinvestors.com