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Targa Exploration Corp. (CSE: TEX) (FRA: V6Y) (OTCQB: TRGEF) has announced the issuance of shares to Kenorland Minerals and the Northern Lithium Vendors to finalize property acquisition obligations.
Kenorland Share Issuance
As per the acquisition agreement dated December 12, 2022, Targa issued 948,925 shares to Kenorland Minerals, marking the final payment for the Opinaca and Superior projects. Targa now holds a 100% interest in these projects, subject to a 3% net smelter returns royalty held by Kenorland.
Northern Lithium Share Issuance
Targa and the Northern Lithium Vendors entered an agreement on July 19, 2024, which involved issuing 4,099,999 shares at $0.0921612 per share. This settled the remaining $377,860.86 cash payment for five mineral properties in Quebec and Ontario. Targa now fully owns these properties, subject to a 1% net smelter returns royalty payable to the Northern Lithium Vendors.
About the Opinaca Project
The Opinaca Project is situated in the James Bay region of Quebec, approximately 40km south of Patriot Battery Metals’ Corvette lithium discovery. The project spans 85,267 hectares of the Opinaca geological sub-province. Till sampling in 2023 unveiled a significant gold, arsenic, and tungsten anomaly, along with a higher-grade gold and lithium anomaly.
About Targa Exploration Corp.
Targa Exploration Corp. (CSE: TEX | FRA: V6Y | OTCQB: TRGEF) is headquartered in Vancouver, British Columbia. The company focuses on the acquisition and development of gold and lithium mineral properties across Quebec, Ontario, Manitoba, and Saskatchewan. Targa’s diverse project portfolio covers over 400,000 hectares, most of which have not been previously explored for lithium or gold.
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