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.
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.
At 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.”
