Welcome to our dedicated page for Discovery Energy news (Ticker: DCLIF), a resource for investors and traders seeking the latest updates and insights on Discovery Energy stock.
The DCLIF news feed aggregates company-disclosed updates for Discovery Energy Metals Corp. (formerly Discovery Lithium Inc.), a Canadian exploration company focused on mineral resource projects in North America. These news items come from official announcements and highlight how the company describes its activities, properties and corporate actions.
Readers can find coverage of non-brokered private placement financings, including details on unit offerings, warrants and the stated use of proceeds for working capital and property exploration. News releases also describe acquisitions of mineral claim packages, such as the Eagle Lake and Whitefish Lake claims in Northwestern Ontario and the Sakami and Radisson East lithium properties in the James Bay lithium district.
The company’s updates include technical exploration results from programs in the Eeyou Istchee James Bay region, where it reports lithium-cesium-tantalum pegmatite geochemical signatures, indications of orogenic gold mineralization and volcanogenic massive sulfide signatures on certain properties. Additional disclosures discuss airborne magnetic surveys, digital elevation models and other datasets used to support exploration targeting.
Corporate developments such as the name change from Discovery Lithium Inc. to Discovery Energy Metals Corp., expected trading symbol changes on the Canadian Securities Exchange and OTC markets, and board of directors updates are also reflected in the news flow. Investors following DCLIF-related news can use this page to review the company’s own descriptions of its exploration portfolio, financing activities and corporate milestones over time.
Discovery Lithium Inc. (CSE:DCLI, OTCQB:DCLIF) has appointed Mike Hodge as its new President and CEO, effective July 18, 2024. Hodge, a seasoned executive with over 20 years of experience in mining exploration and development, was previously a Director at the company. He replaces Michael Gheyle, who resigned from his positions as CEO, President, and director on July 17, 2024.
Hodge's extensive background includes leadership roles from field operations to the boardroom, with a focus on strategic growth and sustainable practices. His appointment is expected to drive innovation and excellence in Discovery Lithium's operations, particularly in advancing domestic energy freedom through regional lithium discovery.
Discovery Lithium Inc. (CSE:DCLI)(OTCQB:DCLIF) has entered into a definitive agreement to acquire the Grove Lake and Whitefish Lake mining claims in Northwestern Ontario. The acquisition includes 2,923 mineral claims covering approximately 61,093 hectares (~150,964 acres), located about 350 km northwest of Thunder Bay. The purchase terms involve a cash payment of $432,778.50 within 180 days of closing and the issuance of 2,000,000 common shares to the vendor, Zimtu Capital Corp. Additionally, Discovery Lithium will grant a 1% net smelter returns royalty to the vendor upon achieving commercial production. The completion of the acquisition is subject to CSE acceptance, and the issued shares will have a four-month hold period.
Discovery Lithium announced its upcoming 2024 exploration program in Quebec.
The company has contracted Dahrouge Geological Consulting to evaluate newly optioned West James Bay properties, focusing on Lithium-Caesium-Tantalum pegmatite potential.
Properties include Mantle, Cirrus East, Cirrus West, Neptune, Alto, Opus, and Bruce Lake, each with strategic locations near recent lithium discoveries.
This assessment will include data compilation, surface exploration, and advanced techniques like airborne magnetic surveys and LiDAR.
Additionally, Colton Griffith has joined the board of directors, replacing Ryan Arthur.
Discovery Lithium has entered into an Earn-In Option Agreement with Apex Critical Metals and DG Resource Management to acquire an 80% interest in the West James Bay property portfolio in Quebec. This portfolio includes seven lithium projects: Mantle, Cirrus East, Cirrus West, Neptune, Alto, Opus, and Bruce Lake. These projects are strategically located in the James Bay region, known for its high-grade lithium spodumene deposits.
The company will issue 5 million shares and incur a minimum expenditure of $1 million within six months to maintain the option. Discovery Lithium's CEO, Michael Gheyle, emphasized the strategic importance of these assets in advancing domestic energy through regional lithium discovery.
Key projects include the Mantle and Bruce Lake projects, located near significant lithium discoveries, and the Cirrus East project, situated close to newly discovered spodumene-bearing pegmatites. The agreement aims to strengthen Discovery Lithium's presence in one of North America's most prospective lithium regions.
Discovery Lithium announces a non-brokered private placement to raise up to $1,000,000 by issuing 6,666,667 units at $0.15 per unit. Each unit includes one common share and one share purchase warrant, exercisable at $0.20 within 24 months. Funds will be used for general corporate purposes and working capital. The offering is contingent on regulatory approvals, and potential finder's fees may apply. Securities will have a statutory hold period of four months and one day.
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