Forrestania (ASX: FRS) expand into Canadian world-class potential at Hydra
Forrestania Resources will explore almost 30,000 hectares of property close to world-class lithium discoveries as part of a timely strategic joint venture with ALX Resources Corp on its Hydra Lithium Project in Quebec, Canada.
Following recent success at its namesake project in Western Australia, the Company is expanding its lithium exploration in collaboration with the seasoned Canadian regional operator led by a team with a proven track record of exploration success and invaluable local expertise.
The deal creates the potential for FRS to earn a 50% interest in ALX’s 100%- owned project and to form a joint venture comprising eight sub-projects, totalling 29,262 hectares (293km2) proximate to Patriot’s whopping Corvette lithium discovery.
Hydra Lithium Project in Quebec, Canada
Excitingly the entirety of the HLP sub-projects either overlie or are positioned on the margins of highly prospective greenstone belts with outcropping pegmatites already identified at various sites.
Forrestania Managing Director Michael Anderson said given the proximity to recent major discoveries, there is obvious potential to find additional lithium-caesium-tantalum (LCT) type pegmatites and lithium resources. •
“The partnership with the high quality and experienced ALX team provides Forrestania Resources with a cost-effective and immediate entry to an extremely prospective district,” Mr Anderson said.
“Furthermore, we are very pleased to announce that Forrestania has successfully secured a strategic foothold in the dynamic Quebec lithium space.
“Through this partnership with ALX on the Hydra Lithium Project in James Bay, we are positioning ourselves to capitalise on the enormous exploration potential of this highly prospective region. This is a major milestone for ALX Resources Corp.”
Fieldwork is planned to commence on May 31, 2023.
$0.515About ALX Corp
ALX is based in Vancouver, BC, Canada, and its common shares are listed on the TSX Venture Exchange under the symbol “AL”, on the Frankfurt Stock Exchange under the symbol “6LLN”, and in the United States OTC market under the symbol “ALXEF”. ALX’s mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include uranium, lithium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 220,000 hectares of prospective lands in Saskatchewan, a stable Canadian jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, and production from base metals mines, both current and historical.
FORREST FPO [FRS]