(MENAFN- EIN Presswire)
Brazil Lithium Valley Claim Map for North By Northwest Lithium
North By Northwest Lithium Inc. Acquires Claims in Brazil's Lithium Valley adjacent to Sigma Lithium, Lithium Ionic Corp. and Atlas properties
VANCOUVER, BRITISH COLUMBIA, CANADA, February 12, 2024 /EINPresswire / -- North By Northwest Lithium Inc. Acquires Three Strategic Mineral Claims in Brazil's Lithium Valley, Minas Gerais State, Brazil
North By Northwest Lithium Inc. (“NBNW”) is pleased to announce signing of an exploration option agreement on three properties in the heart of Brazil's lithium mining district (“Lithium Valley”). The properties cover a total of 2,579.11 hectares and are adjacent to Sigma Lithium's and Lithium Ionic's Lithium Valley projects, as well as within 6 km of Atlas Lithium's Anitta Pegmatite Trend, attached to this news release. The mineral titles are optioned from a prominent local granite facing stone miner MINERALES EMPREENDIMENTOS, MINERAÇÃO E PARTICIPAÇÕES LTDA (“MINERALLES”), which retains the rights to ornamental stone production.
NBNW is a private company with lithium exploration interests extending from the Northwest Territories in Canada to Minas Gerais in Brazil. Through this option agreement, NBNW has the right to initially earn up to 90% interest in lithium production on any of the claims by meeting certain work and payment terms over the next 3 years. MINERALLES holds a 10% FCI (free carried interest) with the right to acquire up to 25% interest in the project by contributing proportionally to the exploration and mine commissioning, subject to the terms of the contract.
Located within the Araçuaí Pegmatite District (APD) of the Eastern Brazilian Pegmatite Province (EBPP), these claims are positioned within the Proterozoic metasedimentary Salinas Formation which also hosts the Sigma, CBL, Atlas and Lithium Ionic projects. The metasediments of the Salinas Formation formations have been intruded by Neoproterozoic granitic bodies, which are the primary sources of the lithium-rich pegmatites.
The EBPP is renowned for its significant resources of high-grade lithium-bearing minerals, especially spodumene, as well as other industrial minerals such as quartz, feldspar, and beryl. The region's pegmatites are known for their impressive size, high degree of fractionation, and significant mineralogical diversity, which could indicate the presence of rare and economically valuable minerals.
With the acquisition of these claims, NBNW is positioned to commence a comprehensive exploration program in Brazil's Lithium Valley.
About North By Northwest Lithium Inc.
North By Northwest Lithium Inc. is a mineral exploration company focused on the acquisition, exploration, and development of lithium and critical mineral projects. Its operations are primarily located in the Northwest Territories of Canada and extend into Minas Gerais state, Brazil. The company's key projects include claims in Canada's Northwest Territories, leveraging the region's potential for significant lithium deposits.
On behalf of the Board of Directors
H. Hassan, Director
John Gammack, Director
+1 604 374 5561
#1518 -800 West Pender Street
North By Northwest Lithium Inc
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