Origen Resources Inc. has announced that Nord Battery Resources has agreed to terminate the agreement to purchase all of the Company’s Newfoundland Lithium properties. Origen shareholders will now have direct benefit of these assets. These Newfoundland lithium projects are the largest land package assembled in the province targeting lithium-rich pegmatites and will greatly enhance the Company’s new lithium-focused mandate.
Origen’s project-generator model has been quite successful in the past, but given the increased global focus on lithium, and the quality of the recent additions to management and advisory teams, the Company is pleased to be able to re-assert 100% ownership of the Newfoundland Lithium properties. Origen still has a substantial portfolio of investments and mineral properties, as well as additional lithium acquisition opportunities currently being pursued.
Gary Schellenberg, Origen CEO explained: “We are excited to have these assets back under our direct developmental control. This is one of the largest lithium-focused land packages in Newfoundland. Our geological team identified the significance of the geology of the region early and was able to amass a strategic land package within this emerging lithium belt, complimenting our efforts at Los Sapitos in Argentina. Having control of these lithium projects again, we can now aggressively explore and develop them to the full benefit of our shareholders.”
Key Points:
- Origen now directly controls highly-prospective lithium brine and clay prospects in Argentina, as well as these Newfoundland hardrock pegmatite prospects, covering all forms of lithium mineralogy.
- New Lithium Advisory Board members add their considerable expertise to Origen’s existing geological team, to rapidly advance all of Origen’s lithium assets.
- The Origen geological team has significant experience in the Caledonian Lithium Belt consulting to Blackstairs Lithium’s Avalonia Lithium Project in Ireland (56% owned by Ganfeng Lithium).