Vancouver, British Columbia, April 1, 2019 – BlueBird Battery Metals Inc. (TSXV: BATT; US:BBBMF) (the “Company” or “BlueBird”) is pleased to announce that it has entered into a binding letter of intent (“LOI”) to acquire 100% of the shares of Southern Lithium Pty Ltd (“Southern Lithium”), a private Australian corporation. Southern Lithium holds title to several tenements in Eastern Goldfields Region of Western Australia, an area with demonstrated potential for the discovery of economically viable lithium oxide.
Highlights of Southern Lithium Acquisition:
- Twelve (12) tenements totaling 664 km2 (the “Southern Lithium Project”) within the southern Yilgarn Lithium Province, an area with demonstrated potential for significant lithium oxide discoveries including Greenbushes, Mt Caitlin, Mt Marion, Earl Grey, Bald Hill, Mt Kathleen and Buldania. (Figure 1);
- Historical exploration focused on gold and base metal potential which identified numerous pegmatite swarms, a preferred host rock for lithium mineralization in the region and elsewhere in Western Australia;
- Historical exploration records indicate numerous descriptions of pegmatite within Southern Lithium’s assembled land package, offering a compelling exploration opportunity;
- Western Australia offers excellent infrastructure and additional refining capacity for lithium oxide is currently under construction; Exploration to verify the lithium potential of known pegmatites within the acquired land package is a top priority.
Nav Dhaliwal, CEO of BlueBird, commented, “This strategic acquisition for BlueBird secures a highly-prospective land position within an emerging hard rock lithium district. With its stable pro-mining politics and straightforward permitting environment, Western Australia has emerged as a preferred source of high-quality lithium and tantalum supply. We are excited by the scope of the opportunity before us. The district has been proven to host large-scale lithium mineralization associated with pegmatite structures. Several pegmatite targets have been mapped within the assembled tenements, none of which have been evaluated for lithium. That opportunity, combined with the well-established infrastructure throughout Western Australia, provides for a particularly compelling value proposition. We look forward to commencing exploration as soon as possible to prioritize targets for drilling.”
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