Forrestania Resources Ltd (ASX:FRS) MD Michael Anderson tells Proactive the company has expanded its lithium focus in the James Bay Region of Quebec, Canada, exercising an option and earning a 50% interest in the Hydra Lithium Project (HLP) in joint venture with ALX Resources Corp (TSX-V:AL).
The Hydra Project covers eight sub-projects of a total of 293 square kilometres, with potential to grow further with additional acquisitions or staking of new claim applications.
We are very pleased to have formalised the joint venture with ALX to become 50:50 partners in the Hydra Lithium Project, Anderson said.
From our perspective securing a strategic foothold in the dynamic James Bay lithium space is hugely complementary to our existing project portfolio back at home in Western Australia and provides us with significant additional discovery potential.
We very much look forward to collaborating with ALX to unlock that potential.
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Forrestania Resources Ltd