Brazilian exploration company Antares Minerais (Antares Minerais) has obtained legal title and title to certain exploration licenses and exploration applications covering an area of 16,750.28 hectares. Located in the eastern part of the state of Minas Gerais, Brazil.
The acquisition includes 14 tenements divided into four blocks, namely the Agua Boa Project, the Rio Doce Project, the Resplendor Project and the Mendes Pimentel Project where the pegmatite bodies were discovered.
The projects are easily accessible via state-paved roads and well-maintained farm roads. The projects also include high-voltage power lines, a nearby railway link directly to the port of Victoria Tubarão, the capital of Espiritu Santos state, and Valladares Governor Airport infrastructure.
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Rick Anthon, Non-Executive Chairman of Armada, commented:
“This is an exciting deal for Armada as we diversify geographically and in lithium while remaining in key metals. This area of Brazil is attracting attention due to the potential discovery of lithium-bearing pegmatites has significant exploration focus as there are many other operators and known deposits in the area. Additionally, we can draw on our own experience with lithium and the South American continent.
This new proposed acquisition, coupled with our nickel holdings in Africa Results from projects, particularly the Bend Nickel project in Zimbabwe which we are currently drilling, are expected to be available soon, providing Armada and its shareholders with exciting new opportunities.”
