MGA Expands Portfolio with Strategic Lithium Claims in Zimbabwe

MetalsGrove Mining Limited (MGA) has acquired six promising lithium-tin-tantalum claims in Zimbabwe through its subsidiary, MetalsGrove Global. The Arcturas Lithium Project and Beatrice Lithium Project, located near the Arcadia Minerals lithium mine, have returned rock chip samples with grades up to 2.5% Li2O and 2.1% Li2O, respectively.

The claims, positioned within the Goromonzi and Beatrice lithium belts, are close to the world-class Arcadia Minerals mine, acquired by Zhejiang Huayou Cobalt in 2022 for USD$422M. MGA plans an exploration campaign in Q1 2024. The acquisition involves a total cash consideration of USD$60,000, with local entities retaining a 5% interest until a mining decision is made. The move strengthens MGA's position in critical metals exploration.

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