Sensore And Lithgold To Pursue Gecko North Lithium

SensOre (ASX:S3N) aims to become the top performing global minerals targeting company through deployment of big data, artificial intelligence (AI)/machine learning technologies and geoscience expertise.

Highlights

• SensOre DPT® technology has generated a lithium target at Gecko North (EL15/1587) in Western Australia near LithGold Minerals’ conventionally identified lithium surface geochemistry anomaly
• Agreement has been reached for SensOre to spend a total of $2.5m over 4 years for a 51% interest in the non-precious mineral rights and the opportunity to earn another 29% (total 80%) by completing a bankable feasibility study. The agreement includes a minimum spend of $270,000 over 18 months
• SensOre will also issue $50,000 in SensOre equity to LithGold Minerals on successful completion of conditions precedent and due diligence
• Gecko North is part of the lithium target funding initiative between Deutsche Rohstoff AG and SensOre announced to the ASX on 21 March 2022 date with lithium exploration funded 70/30
• Meeka Metals (ASX:MEX) retains a legacy 1.5% royalty over the Gecko North Project from an option and sale agreement with LithGold entered in 2021

Richard Taylor, CEO, SensOre Ltd said“The Gecko North Project demonstrates the combination of AI target generation and conventional exploration techniques coming together to fast-track target development. It demonstrates our novel approach to project generation bringing together international funding for battery minerals with world class exploration expertise with our partners in LithGold. Importantly, this approach gives SensOre shareholders the opportunity to benefit from the technology with exposure to any major discovery.”

Kevin Schultz, Executive Chairman, LithGold Minerals said“The agreement allows LithGold to partner with an exciting mining technology group and to focus on our portfolio of projects while retaining the precious metal rights over the Gecko North Project which first attracted us to the area. We look forward to seeing the lithium potential of the area developed further.”

About LithGold Minerals

LithGold Minerals Ltd is a private pre-IPO mineral exploration company based in Perth, Western Australia with extensive mining tenement assets in the vicinity of Gecko North. Formerly named Origin Gold Mines Ltd the company was founded by Perth mining entrepreneur Mr Tanvanth Singh Sandhu, the major shareholder and key financial supporter of LithGold.

About Deutsche Rohstoff

Headquartered and listed in Germany, Deutsche Rohstoff is focused on the identification, development and sale of attractive natural resources projects primarily in North America, Australia and Europe.

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