Deals this week: Alix Resources, Landore Resources, Ferrum Americas Mining

11 February 2016 (Last Updated February 11th, 2016 18:30)

Alix Resources and Lithium Australia have signed an agreement to jointly explore and develop the Electra lithium project in Sonora, Mexico.

Alix Resources and Lithium Australia have signed an agreement to jointly explore and develop the Electra lithium project in Sonora, Mexico.

The companies will also work to define a percentage interest whereby Alix will share an interest in lithium extraction from clay technology patents arising from the joint efforts.

The Electra project hosts projected extensions of the Sonora lithium clay deposit located in Mexico under development by Bacanora Minerals and Rare Earths Minerals.

Landore Resources has reached an agreement to sell its Root Lake Lithium property in north-western Ontario, Canada to Ardiden.

Ardiden will purchase Landore's 100% interest in Root Lake by offering a non-refundable deposit of C$50,000 to Landore.

In case Ardiden fails to complete any requirements of the option agreement, Landore will retain 100% of the Root Lake rights.

Ferrum Americas Mining has entered into an agreement to acquire a minimum 60% interest and a maximum 75% interest in Compania Minera La Plata (CMLP).

CMLP owns the La Plata gold-rich VMS project in Ecuador.

In order to earn the initial 60% interest, Ferrum is required to make cash payments totalling $2m over a four year period.

Atlantic Gold has signed a deal with the Province of Nova Scotia in respect of the leasing of certain parcels of land owned by the Province for ten years.

The parcels of land cover the mining area within the Touquoy deposit in addition to all facilities and other infrastructure required to process ore from Touquoy, and also from Beaver Dam.

The agreement has an option to be renewed for a further ten years.

Alecto Minerals' wholly owned subsidiary Caracal Gold Mali has entered a joint venture agreement with Randgold Resources for the exploration and development of the company's 137km² Kossanto West Gold Project in western Mali.

The project consists of the Kobokoto Est and Koussikoto exploration permits.

Upon completion of the JV, Randgold will fund all costs up to and including the completion of a pre-feasibility study on the project.