- Volt Resources (VRC) agrees to purchase three licence application in Serbia that are considered to be prospective for lithium-borate mineralisation
- The licence applications cover a total area of 291 square kilometres, and are located west and south-west of the Serbian capital, Belgrade
- One of the licence applications is for Jadar North and is right near Rio Tinto’s (RIO) Jadar lithium-borate project
- If all of the three licences are granted, Volt will undertake a drilling program, which is expected to commence in the third quarter of 2022
- On the market this morning, Volt is up 19.2 per cent and is trading at 3.1 cents per share
Volt Resources (VRC) has agreed to purchase three licence applications in Serbia that are considered to be prospective for lithium-borate mineralisation.
The licence applications cover a total area of 291 square kilometres, and are west and south-west of the Serbian capital, Belgrade.
The purchase is part of a larger strategy to position Volt as a multi-commodity battery minerals company.
Volt is purchasing all the shares in Asena Investments, a Serbian company which holds the rights to the three licence applications.
Volt’s Chairman Asimwe Kabunga said this is an exciting opportunity for the company to purchase lithium licences in highly prospective and under-explored areas in Serbia.
“The transaction forms part of a larger strategy to position Volt to become a multi-commodity battery minerals company, with projects focused on the two key minerals in the fast growing lithium-ion battery market — lithium and graphite,” he said.
“With these assets located in Europe and relatively close to the USA market, Volt’s integrated battery minerals supply chain strategy continues to evolve and provides shareholders with significant long term growth opportunities.”
One of the licence applications is for Jadar North and is right near Rio Tinto’s (RIO) Jadar lithium-borate project. If successful, Asena and Rio will own the full Jadar basin.
If all of the three licences are granted, Volt will undertake a drilling program, which is expected to commence in the third quarter of 2022.
On the market this morning, Volt was up 19.2 per cent and is trading at 3.1 cents per share at 10:40 am AEDT.