Apex Resources Expands Lithium Portfolio with Nevada Property Acquisition
Vancouver, BC -- January 9, 2024 -- NewsGenie -- Apex Resources Inc. (TSXV:APX) has announced a share purchase agreement to acquire all shares of a corporation holding a 100% option on the Lithium Creek Property in Nevada, USA. The acquisition consolidates a large land package comparable to Albemarle’s Silver Peak Mine, located off a major highway in an area with lithium mineralization geology.
The Lithium Creek Property, consisting of 40 claims covering 800 acres, shows strong evidence of a large lithium-boron bearing brine body. Historical sampling revealed lithium concentrations ranging from 18 mg/L to 330 mg/L and boron up to 400 mg/L. The property's conceptual model mirrors that of Clayton Valley, Nevada, the site of North America's only operating lithium brine mine.
Apex Resources President Jay Roberge stated the acquisition offers shareholders exposure to a potential low-cost lithium brine project in Nevada.
The company will acquire all shares of 1434001 B.C. Ltd. for USD $80,000.00 and 18,000,000 Apex common shares, released in installments. Upon completion, 1434001 will become a wholly-owned subsidiary of Apex, holding an exclusive option to acquire a 100% interest in the Lithium Creek Property. The terms of the option include a payment schedule and exploration expenditure commitments to acquire 100% of the Property. The Company plans to raise up to $800,100 through a non-brokered private placement.
Geoffrey Baldwin, P.G., a Qualified Person independent of Apex, reviewed and approved the technical information.