Graphite producer and battery anode material developer Volt Resources Limited (ASX: VRC) (“Volt” or “the Company”) is pleased to announce the acquisition of three licence applications that are considered to be prospective for lithium-borate mineralisation. The licence applications are in respect to a total area of 291km2, located in Serbia and are west and south-west of the Serbian capital, Belgrade. Volt is acquiring 100% of the issued share capital in Asena Investments d.o.o. Beograd-Stari grad (Asena), a Serbian company which holds the rights in relation to the three licence applications.
- Acquisition of lithium licence applications in Serbia – Jadar North, Petlovaca and jig
- The transaction forms part of a larger strategy to position Volt as a multi- commodity battery minerals company
- Jadar North licence application over ground adjacent to Rio’s world-class Jadar lithium-borate project in Serbia
- Anomalous intersections of lithium and borate identified on Jadar North from limited historical diamond drilling
- Jadar basin 100% occupied by Rio and Asena – subject to Asena being granted the Jadar Northlicence
- Volt to acquire Serbian company Asena Investments d.o.o. which holds the rights to the three licence applications
- Subject to the licence applications being granted Phase 1 drilling program expected to commence in CY Q3 2022 across all three licences
Volt Chairman, AsimweKabunga, commented:
“The Asena transaction is an exciting opportunity for Volt to acquire lithium licences in highly prospective and under-explored areas in Serbia.
The transaction forms part of a larger strategy to position Volt to become a multi-commodity battery minerals company, with projects focussed on the two key minerals in the fast growing lithium-ion battery market – lithium and graphite.
With these assets located in Europe and relatively close to the USA market, Volt’s integrated battery minerals supply chain strategy continues to evolve and provides shareholders with significant long term growth opportunities.”
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