Arbor Metals has announced that it identified highly prospective lithium bearing areas in Canada’s eastern part, and the company’s management has decided to expand its portfolio of strategic lithium projects in this country.
Arbor Metals “has engaged the services of a leading Canadian exploration company to assist in completing the technical review. This potential acquisition would expand the Company’s lithium focus as it builds a project pipeline of mineral projects in a sector poised to supply the needs of the world transition to a green economy,” the business said in a statement.
The Canadian firm says it is currently completing due diligence and final negotiations on a prospective lithium project, and expects it will be able to finalise the acquisition in the coming weeks.
At the same time, Arbor Metals “has not yet finalized the terms for the acquisition of the lithium project, and there can be no guarantee that a transaction will ultimately proceed,” according to the statement.