Orosur Mining Inc. has recently announced an exciting joint venture agreement to explore multiple exploration licenses in Nigeria. The company is seeking to expand its portfolio to include lithium mineralization in Nigeria, which is gaining attention as one of the most promising regions in Africa for this valuable resource. The project will cover a significant area across Nigeria’s lithium belt, with exploration programs scheduled to commence immediately.
The company has strategically positioned itself to take advantage of emerging opportunities in the lithium space, particularly in Nigeria, where substantial lithium pegmatite potential has been identified. With a team of experienced geologists, all necessary equipment, and logistical support in place, Orosur Mining is poised to commence field programs without delay.
The joint venture with Nigerian company Jurassic Mines Ltd will allow Orosur, through its subsidiary Lithium West Limited, to earn up to 70% equity in the project in two phases. In phase 1, Lithium West can earn 51% equity by investing a total of US$3m over a maximum of three years, followed by an additional 19% equity in phase 2, with an investment of US$2m over a maximum of two years. The initial project will span four exploration licenses across Nigeria’s primary pegmatite belt, covering an area of approximately 322km2, with the possibility of adding more licenses in the near future.
Nigeria’s lithium potential has been underscored by recent geoscience mapping projects, revealing substantial lithum pegmatite potential in the southern regions. This has led to a surge in both artisanal and modern exploration activities in the area, attracting the interest of international public and private companies. Orosur’s decision to venture into the Nigerian lithium market comes after extensive assessment and a thoughtful approach to entry strategies based on geological understanding.
CEO Brad George highlighted the company’s commitment to pursuing early stage, low entry cost strategies, underpinned by a detailed geological understanding of the local mineralizing systems. Nigeria presents an exciting opportunity for Orosur Mining, given the extensive experience of its executive team and the geological similarities with pegmatite fields in northeastern Brazil.
For further information or inquiries about this promising venture, interested parties are encouraged to visit www.orosur.ca or follow the company on Twitter @orosurm. Alternatively, inquiries can be directed to [email protected] or the contact numbers provided.
This significant announcement further underscores Orosur Mining’s ongoing efforts to diversify its exploration portfolio and seize opportunities in promising mineral markets. The company’s strategic move into the Nigerian lithium space aligns with its commitment to responsible and sustainable resource exploration while delivering value to its stakeholders.