FE Battery Metals (CSE: FE) (OTCQB: FEMFD), a publicly traded Canadian mineral exploration company, is initiating a fully funded drill program at its Augustus Lithium Property in Quebec, Canada; the exploration program is being funded with proceeds from the company’s two most recent financings, which resulted in more than $3.7 million. According to the update, the company has contracted with Quebec-based Forage Hebert Inc. Drilling; Forage Hebert will drill up to 3,000 meters NQ size core drilling at FE’s Augustus Lithium Property, with an option for additional drilling. The drilling should start sometime in the next week. FE Battery Metals has also entered into an option agreement with Battery Age Minerals Ltd. for its wholly owned Falcon Lake claims located in Ontario. Based on that agreement, Battery Age made a cash payment of $150,000 (Australian) and issued 2,125,000 shares to FE Battery Metals in exchange for an initial 90% interest in Falcon Lake. The agreement also stipulates that Battery Age has the option to acquire the remaining 10% interest in Falcon Lake and FE Battery Metals will retain a 1% Gross Metal Royalty on any future production from Falcon Lake claims. FE Battery Metals has also inked a deal to acquire the Gaspésie Peninsula Property. The option agreement calls for FE Battery Metals to acquire 100% interest of the Gaspésie Peninsula Property, which is located in Quebec and includes 55 contiguous mineral claims covering a total area of 3,239.67 hectares.
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About FE Battery Metals Corp.
FE Battery Metals is a Canadian mineral exploration company with a primary focus of acquiring mineral properties in the battery metal sector. The company’s goal is to identify, acquire and explore North American mineral prospects with a primary focus on lithium. Its strategy is to acquire and advance projects through prospecting and early-stage exploration; source joint venture partners to finance future exploration and project development; and create shareholder value through exploration success. For more information about the company, please visit www.FirstEnergyMetals.com.
NOTE TO INVESTORS: The latest news and updates relating to FEMFF are available in the company’s newsroom at https://ibn.fm/FEMFF
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