L1M Concludes Binding Agreement for James Bay Lithium Project

Lightning Minerals Ltd (ASX: L1M) has concluded its due diligence on the Dalmas and Hiver lithium Projects in James Bay, Quebec, Canada, as previously announced on ASX on 11 August 2023. The following steps involve conducting on-ground reconnaissance work at both project sites by the end of November 2023. This follows the identification of seven high-priority target areas through multispectral analysis. With all due diligence requirements successfully met, the Dalmas and Hiver Projects acquisition is on track.

The final definitive acquisition agreement has been executed, bringing the deal close to completion. Notably, these projects encompass 165 distinct signatures, with target areas extending up to 2.7km at Dalmas and 2.1km at Hiver. The results will serve as the foundation for phase 1 sampling, ground verification, and reconnaissance activities set to commence in the upcoming weeks.

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