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Megawatt Lithium and Battery Metals Corp. (OTC PINK: WALRF) has announced a seasonal exploration program for its Tyr Silver Project in New South Wales, Australia, effective March 29, 2018. The program includes data review, geochemical sampling, magnetometer surveys, and high-priority drilling. Historical records indicate significant silver occurrences in the area, with the Ecuador deposit showing 4710ppm silver and Torny Mine at 1420ppm silver. CEO David Thornley-Hall expressed optimism about the program’s contribution to understanding the project’s potential.
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Megawatt Lithium and Battery Metals Corp (OTC PINK: WALRF) has finalized its acquisition of 1260945 B.C. Ltd., enhancing its asset portfolio in Australia. The transaction involved issuing 11.4 million common shares at a value of $0.44 per share. The acquired mining assets include rare earth elements in Northern Territory and nickel-cobalt-scandium properties in New South Wales, signaling potential growth in exploration. The deal is arms-length with no management changes expected.
On March 30, 2021, Megawatt Lithium and Battery Metals Corp (OTC PINK: WALRF) announced a share exchange agreement to acquire 1260945 B.C. Ltd (TargetCo). The transaction involves the issuance of 8,900,000 common shares at a deemed price of $0.44 per share, subject to regulatory approval. Megawatt will gain a 100% interest in mining tenements in Northern Territory and New South Wales, crucial for rare earth elements and nickel-cobalt-scandium. The agreement includes potential additional shares tied to milestones.
On March 18, 2021, Megawatt Lithium and Battery Metals Corp. (OTC PINK: WALRF) announced an update on geological due diligence regarding its proposed acquisition of five properties in Australia, focusing on the three New South Wales (NSW) properties—Chinook, Kodiak, and Caribou—prospective for cobalt, scandium, and nickel. The company aims to leverage the growing demand for electric vehicles, illustrating the potential of the Lachlan Orogenic belt as a global supply hub for ethically sourced minerals. Additionally, a marketing services contract extension was announced, involving a payment of EUR 200,000.
Megawatt Lithium and Battery Metals Corp. (OTC PINK: WALRF) welcomes Australia's new 10-year critical minerals value-add plan, announced on March 3, 2021. This initiative aims to enhance the country's downstream processing capabilities, addressing concerns over China's dominance in the REE supply chain. The Australian government will create a A$1.3bn fund to support manufacturers. Concurrently, Megawatt plans to acquire five properties in Australia that are prospective for rare earth elements and nickel-cobalt-scandium. However, the acquisition is subject to closing conditions and regulatory approvals.
Megawatt Lithium and Battery Metals Corp. (OTC PINK: WALRF) has signed a letter of intent on March 1, 2021, to acquire 1260945 B.C. Ltd. and its mining tenements in Australia, subject to regulatory approval. The acquisition includes nickel-cobalt-scandium-HPA properties in New South Wales and rare earth elements in Northern Territory. Megawatt will issue 11,000,000 common shares at $0.44 per share as consideration. The deal remains subject to conditions including due diligence and obtaining necessary approvals.
Walcott Resources Ltd. has completed surface sampling at its 60% owned Tyr Silver Zinc project in New South Wales, Australia. The findings revealed high-grade samples including 504g/t Silver and 9.57% Zn from mine dump grab samples. CEO David Thornley-Hall expressed satisfaction with the results, indicating promising silver mineralization at historic sites. The project spans over 300 square kilometers, featuring historic mines last operational from 1920 to 1935. Walcott is focused on further exploration and has engaged geological consultants for data verification.