This image is randomly selected and doesn’t necessarily represent the company or the news below.
Imagine Lithium Inc. (ILI.V) and Rock Tech Lithium (RCK) have announced a memorandum of understanding to explore cooperation opportunities in Northern Ontario. This partnership aims to develop a robust raw material supply chain to support Rock Tech’s proposed lithium converter near Lake Superior’s North Shore.
Strategic Collaboration for Lithium Supply
The collaboration will leverage the proximity of Imagine’s Jackpot Project and Rock Tech’s Georgia Lake property, which share contiguous boundaries. Both companies have identified significant spodumene-bearing pegmatites through exploration drilling, enhancing the region’s potential as a lithium hub.
Joint Development and Economic Growth
Rock Tech’s General Manager, Robert MacDonald, and Imagine Lithium’s President, J.C. St-Amour, both emphasize the economic benefits of this collaboration. Imagine Lithium is also preparing to release a 43-101 resource estimate for the Jackpot Project in Q2 of 2024, following a successful $9.1 million placement.
Shared Infrastructure and Exploration
The partnership will focus on joint exploration, processing ore at a central concentrator, and developing shared infrastructure. The companies will continue to assess mutual interests and align their operations to maximize shareholder value.
About Rock Tech
Rock Tech is a cleantech company with a mission to produce lithium hydroxide for electric vehicle batteries. It plans to build lithium converters in Canada and Germany, starting with a facility in Guben, Germany. Rock Tech aims to create a closed-loop lithium production system.
About Imagine Lithium
Imagine Lithium is a junior mining exploration company holding the Jackpot lithium property in Ontario. The property is strategically located near infrastructure and contains known lithium-bearing granitic pegmatite dikes.
CAUTIONARY NOTE: This news release contains forward-looking statements based on assumptions and involves risks and uncertainties. These statements reflect the Company’s current expectations and are subject to change.
Company Website: https://www.imaginelithium.com
The content presented on this page has not been manually verified by our team. While we strive to ensure accuracy, we cannot guarantee the validity, completeness, or timeliness of the information provided. Always consult with appropriate professionals or sources before making any decisions based on this content.