Comet Lithium Corporation (CLIC) has announced its acquisition of three prospective lithium projects in the James Bay region. This strategic move expands Comet’s landholding to over 346 km² in the renowned lithium district.

Mercator Project Overview

The Mercator Project, located 40 kilometers southeast of Comet’s Liberty property, consists of 29 mining claims covering approximately 14.91 km². It shares geological similarities with the nearby Tilly and Trieste Projects, featuring large, mapped pegmatite dykes.

Monarch Project Highlights

The Monarch Project includes 39 mining claims across 20.61 km². It is strategically situated near Cygnus Metals’ Auclair Project, with high lithium grades and multiple pegmatite discoveries. Previous work has identified strong soil anomalies and potential for gold and VMS mineralization.

Elmer East Project Details

Located 20 km northeast of Arcadium’s James Bay deposit, the Elmer East Project encompasses 32 mining claims over 16.7 km². It is north of Azimut Exploration’s Wapatik Project, which shows significant lithium and other mineral targets.

Acquisition Terms

Under the Agreement, Comet Lithium will issue 1,500,000 common shares to Troilus Gold. Additionally, Troilus Gold will have a 24-month participation right in equity financing and a 2% Net Smelter Royalty on the acquired projects.

Upcoming Developments

Comet Lithium will soon release results from the June 2024 Liberty field program and commence the August 2024 Troilus field program. Further exploration on Liberty, Troilus, and the new projects is planned.

Board Appointment

Comet has appointed Kyle Frank to its Board of Directors. Mr. Frank, the Vice-President of Exploration at Troilus Gold, brings over a decade of experience in advanced stage exploration and open pit mining production.

About Comet Lithium Corporation

Comet Lithium is a dynamic lithium-focused exploration company active in the prolific James Bay District of Quebec. Its flagship Liberty Property is adjacent to Winsome Resources’ Adina lithium deposit.

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