Todd River Resources (ASX:TRT) has finalised the purchase of a 100% interest in mineral claims comprising the Ross Lake, MAC Lithium, and Halo-Yuri Lithium projects each located in the Northwest Territories of Canada.
The Canadian projects comprise a total of 500km-square (50,000 hectares) and Todd River says it now holds the largest lithium exploration footprint of any ASX-listed company in the Northwest Territories.
Targeted drilling will start at the Canadian projects in 2024 following positive initial exploration programs that were completed in October 2023.
The company has also completed a placement to raise $4.8 million which will be used for exploration and development at the Canadian projects and Todd River’s existing projects.
“The acquisition is transformational for the company and allows us to chase some incredible critical mineral opportunities in the Northwest Territories“
Todd River Resources Managing Director Will Dix says the acquisition is a great milestone for the company.
“The acquisition is transformational for the company and allows us to chase some incredible critical mineral opportunities in the Northwest Territories. It also allows the company to selectively target several new, low cost exploration opportunities in Australia, such as at Tapanappa, where we believe we can rapidly evaluate targets and immediately add value at very low cost.”
Todd River Resources is an Australian-based resources company focused on critical minerals. The company has acquired several lithium focused projects in Canada and continues to own a base metal resource at its Mt Hardy Project in the Northern Territory as well as several exciting Ni-Cu-PGE and base metal projects in Western Australia.
Write to Adam Orlando at Mining.com.au
Images: Todd River
