BELGRADE (Serbia), November 22 (SeeNews) - Australian battery anode material developer Volt Resources has acquired three lithium-borate mineralisation licence applications in Serbia, it said.
Volt is acquiring 100% of the issued share capital in Asena Investments, a Serbian company that holds the rights in relation to the three licence applications, it said in a statement last week.
The transaction, involving the acquisition of the Jadar North, Petlovaca and Ljig lithium licence applications, forms part of a larger strategy to position Volt as a multicommodity battery minerals company, it said.
"The Jadar North licence application neighbours Rio Tinto's large world-class Jadar lithium-borate project. Limited exploration has already identified the presence of lithium and borate in the Jadar North licence application. The area the subject of the Petlovaca and Ljig licence applications provide further exploration potential for lithium and borate discoveries similar to Jadar North," Volt managing director Trevor Matthews said.
Volt looks forward to the licence applications being granted and to completing phase one exploration drilling on the three licences to test the lithium and borate mineralisation potential during the course of 2022, Matthews added.
The licence applications are in respect to a total area of 291 sq km, west and south-west of Serbia's capital Belgrade.