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Medaro Mining Corp. reports corporate developments for a mineral exploration issuer with a lithium property portfolio in Quebec and previously disclosed work on lithium extraction from spodumene concentrate through Global Lithium Extraction Technologies. News about MEDAF includes updates on exploration strategy, property option changes, strategic-review outcomes, share consolidations, shares-for-debt settlements, private-placement plans, and other capital-structure actions. Company announcements also address trading status across the CSE, OTC Pink, and Frankfurt markets when relevant to its common shares.
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Medaro Mining Corp. (CSE: MEDA OTC:MEDAF FWB:1ZY) has commenced Phase 2 exploration at its 100% owned Darlin lithium property in Val-d'Or, Quebec, Canada. The work program extends the 2022 soil grid to the east and north in the northern claim block and east-west in the southern claim block. This follows Phase 1 work in 2022 that identified lithium anomalies trending towards the east and northern parts of the property.
The objective is to identify new lithium targets for follow-up trenching and drilling. CEO Michael Mulberry expressed excitement about resuming exploration, considering Darlin a highly prospective lithium project in a favorable mining jurisdiction. The company believes the property has potential to host significant lithium pegmatite mineralization associated with regional structures and intrusions.
Samples will be processed using best practices and analyzed at Activation Laboratories in Ancaster, Ontario using the Ultratrace 7 code.
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Medaro Mining Corp. (CSE:MEDA; OTC:MEDAF) announced a strategic reorganization involving the spin-out of its interest in Global Lithium Extraction Technologies Inc. (GLET) into a new entity called SpinCo. This move will enable SpinCo to independently develop and commercialize lithium extraction technology.
Shareholders will receive common shares of SpinCo in proportion to their holdings in Medaro as of the effective date. A non-brokered private placement will also be executed to fund SpinCo's working capital and research needs. CEO Michael Mulberry emphasized that this spin-out will unlock the value of GLET's technology while allowing Medaro to focus on its lithium and uranium exploration projects in Quebec and Saskatchewan. Further details will be provided as they become available, although the completion of the spin-out is not guaranteed.
Medaro Mining Corp. (CSE: MEDA)(OTC: MEDAF) has announced positive results from its Phase 1 exploration program at the Darlin Lithium Property in Quebec, Canada. The exploration identified significant lithium anomalies in soil sampling, with lithium values ranging from less than 15 ppm to 123 ppm, and some diamond drill holes reporting up to 272 ppm Li. The program included a comprehensive suite of geophysical surveys, soil and rock sampling, and diamond drilling, totaling 1,286 meters. Eight drill holes were completed, and despite some difficulties leading to two abandoned holes, the overall findings are encouraging. Medaro plans to extend its exploration efforts in summer 2023, which could enhance the project’s potential. CEO Michael Mulberry expressed optimism about the project's viability due to the positive data collected and the site's logistical advantages.
Medaro Mining Corp. has filed two provisional patent applications for its innovative spodumene processing technology, which aims to revolutionize lithium extraction. This technology promises to reduce processing costs by 30% to 50% while minimizing environmental impacts. It efficiently manufactures high-purity lithium carbonate and aluminum hydroxide using only three feedstock materials: spodumene concentrate, carbon dioxide, and water. With its compact and scalable design, the technology can be deployed in remote areas and powered by green electricity. Currently, Medaro is finalizing plans to build its first pilot plant in the United States and seeking partnerships to advance the lithium mining sector.
Medaro Mining Corp. (CSE: MEDA, OTC: MEDAF) announced on March 16, 2023, that it has narrowed its search for a U.S. pilot plant location to Tennessee, North Carolina, and Georgia, chosen for their robust infrastructure and skilled workforce. The company is advancing its innovative spodumene processing technology and has begun purchasing equipment for the pilot plant, with plans for buildout in Q3/Q4 2023. This initiative aligns with the growing U.S. lithium market, supported by other industry players like Piedmont Lithium and Albemarle Corporation, who have received significant grants to enhance domestic lithium production.
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