Recharge Metals (ASX:REC) has made a binding agreement to acquire 100% of the Express lithium project in the prolific James Bay region of Quebec, Canada, from DG Resource Management.
Recharge Metals says the project is located in the heart of James Bay, 12km from Allkem's (ASX:AKE) James Bay Deposit, and 15km from Cygnus Metals' (ASX:CY5) Pontax lithium project.
It says Express is a large-scale project which has 139 mineral claims over 2 contiguous blocks for 73.5?, with reported outcropping pegmatites.
Recharge Metals also says it will undertake a share placement to raise $2.5M to fund acquisition and exploration activities over the next 12 months.