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Project located just 20km along trend from Patriot Metals’ world-class Corvette lithium discovery
HIGHLIGHTS
Cosmos reaches agreement to acquire the Corvette Far East Project for cash and shares.
Outstanding addition to Cosmos’ exploration portfolio, being located in the prolific James Bay lithium province in Quebec, Canada.
Corvette is located 20km east of Patriot Battery Metals’ (ASX: PMT) CV5 discovery.
Project interpreted to host a “dismembered” section of the same greenstone belt that hosts the CV5 discovery.
Favourable geological structures for further lithium discoveries.
Cosmos to undertake a conditional $2M placement at $0.16 to underpin the acquisition.
Experienced geologist Leo Horn to join the Cosmos board, adding further technical and geological capability.
Cosmos Exploration Executive Chairman, Jeremy Robinson, said: “This is an exceptional acquisition for Cosmos shareholders which adds further significant weight to our exploration portfolio. The Project is strategically located along strike from North America’s largest lithium project, in the heart of one of the world’s most exciting and fastest growing lithium provinces. We look forward to exploring and drilling at this project next year following on from our maiden drill program at Orange East. With the addition of Corvette Far East, we now have three exceptional exploration opportunities, each of which is capable of delivering transformational discoveries for our shareholders.”