BlueBird Battery Metals to Increase its Australian Property Portfolio

BlueBird Battery Metals (TSXV:BATT) has announced that it has entered into a binding letter of intent to acquire 75 percent of the rights, title and interest in the granted exploration licences of a 726 km2 property holding in the Broken Hill Project, Australia from Impact Minerals (ASX:IPT) through the acquisition of 75 percent of the outstanding share capital of Impact’s wholly-owned subsidiary that holds the exploration licenses.

According to the press release, the property has has $6 million of exploration completed by Impact, and there are identified drill-ready targets with potential for the discovery of nickel, cobalt, copper and platinum group metals, as well as significant lead-zinc-silver potential.

Chairman and CEO of BlueBird Peter A. Ball said:

“We are excited to be able to secure the opportunity to explore such a world-class district, and the original area that launched BHP Billiton, for battery and other related metals. A number of priority exploration targets have already been identified, and our technical team is pleased to be able to work closely with Impact Minerals, led by Dr. Mike Jones. Our collection of strategic battery metals assets in Australia and Canada establishes a foundation from which BlueBird can become a leader in the sector. We anticipate a busy year, as we start to formalize our exploration strategy, and get boots on the ground to quickly build value for our shareholders.”

Click here to read the full BlueBird Battery Metals (TSXV:BATT) press release.