Canadian mineral exploration company Volta Metals has closed the acquisition of the ZigZag Lithium property, strengthening its position in Ontario’s lithium sector.
The acquisition cost Volta Metals $350,000 (C$487,600) and involved the release of all claims against Integral related to litigation over the ZigZag project.
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The ZigZag Lithium property, which is adjacent to Falcon West lithium project in north-western Ontario, is notable for the high-grade Dempster East Lithium showing, with assays returning values up to 3.67% lithium oxide (Li2O).
The total area of the ZigZag project is 2,710 hectares (ha), which, combined with Volta Metals’ Falcon West and Crescent Lake Lithium projects, encompasses a total of 8,287ha, and extends known high-grade lithium occurrences to more than 10km strike length. The property encompasses the geological extensions of Green Technology Minerals’ Seymour Lithium belt to the south-west and Volta Metals’ own Falcon West Lithium System to the east.
The Dempster East pegmatite, located centrally within the project area, has historically yielded samples with up to 3.67% Li2O over a 0.3m section. Spodumene, a lithium-bearing mineral, is readily visible in outcrops, with crystal sizes averaging between three and 15cm, indicative of the pegmatite unit’s consistency.
The deal was first announced earlier this month.
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By GlobalDataAt that time, Volta Metals CEO Kerem Usenmez said: “ZigZag has excellent potential to host more than one lithium system, with Seymour-Crescent emerging from the south-west and Falcon from the east.
“This strategic acquisition cements Volta’s position within this critical belt and provides us with a large consolidated land position with excellent potential to expand the known mineralised pegmatites in addition to discovering new ones.
“Having already demonstrated our efforts with discovering multiple lithium-bearing pegmatites within Falcon, this project adds to the company’s growth, with one of the best land positions in the area, and in Ontario.”
