Sirios signed an Option Agreement for the South and West blocks of its Cheechoo Property [Financial Post (Toronto, Ontario, Canada)]
Osisko Development Corp. Common Shares (ODV)
Company Research
Source: Financial Post
pleased to announce the signing of an option agreement on the south and west blocks of its Cheechoo property (Figure 1) located in Eeyou Istchee James Bay in Quebec, with Electric Elements Mining Corp. (“EEM”). EEM is new private lithium company jointly created by Osisko Development Corp. and Osisko Mining Inc. Pursuant to the agreement, Sirios granted EEM the option to acquire up to a 100% interest in each of the south and west blocks of its Cheechoo property in return for an investment of $0.5 million, over a period of two years, as described below. Article content EEM will explore both blocks for lithium and if the option is exercised, Sirios will retain a 1.5% NSR (“Net Smelter Return”) royalty on the southern block. Article content In addition, if the option is exercised, Sirios will be able to recover, at no cost, 100% of the claims on which gold mineralization in bedrock reaching a minimum metal factor of 10 g/t per metre has been identified. To obtain a 100% interest
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ODV
Sec Filings
- 3/29/24 - Form 40-F
- 3/29/24 - Form 6-K
- 3/15/24 - Form 6-K
- ODV's page on the SEC website