Canada invests $70m in Seymour Lake lithium project in Ontario
The lithium mine operated by Australia's Green Technology Metals could become the province's first lithium producer.
Great Thunder Gold (CSE: GTG) announced this week that it closed the acquisition of the Southern Star property in Quebec, Canada.
With the addition of the 8,100-hectare land package, Great Thunder now holds 10,677 hectares in the Fenelon Gold District.
Southern Star is located 6.5 kilometres south of the Fenelon/Tabasco deposit held by Wallbridge Mining
“This new property acquisition, with encouraging gold and base metal potential, protects more than 81 square kilometres of the Brouillan-Fenelon geological group, which is made up of felsic to mafic volcano-sedimentary rocks,” the company said in a media statement.
To acquire 100% of Southern Star, Great Thunder had to pay the vendor $12,500 and issue 450,100 common shares. The property is subject to a 3% net smelter returns royalty, 2% of which can be acquired by Great Thunder at any time for $3 million.
