Orosur Mining Inc. has formed a joint venture with Jurassic Mines Ltd to explore lithium-rich areas in Nigeria. The project covers four licences and is set to commence exploration immediately. Orosur aims to earn a 70% stake by investing $5 million over five years, as Nigeria’s lithium potential gains interest following government mapping initiatives.
Orosur Mining Inc. has signed a joint venture (JV) with Nigerian firm Jurassic Mines Ltd to explore four lithium licences in Nigeria, an emerging hotspot for lithium mineralisation. The exploration team and infrastructure are ready, and work will commence immediately, focusing on identifying lithium pegmatite resources. The JV allows Orosur to earn up to 70% equity by investing $5 million over five years, with preliminary reconnaissance planned as the first step. Nigeria has seen increased artisanal lithium mining recently, reflecting a growing interest in its mineral potential, particularly since the Nigerian government began extensive geoscientific mapping to assess the region’s resources. Orosur aims to leverage its local expertise and established relationships to develop this promising venture while maintaining its interests in South America.
Orosur Mining Inc. is expanding into the lithium sector by partnering with Jurassic Mines in Nigeria, where there is significant potential for lithium pegmatite mining. This move comes amid increased activity in Nigeria’s mineral exploration, particularly following government initiatives to assess and promote lithium resources in the area. The company’s strategy aims to diversify its portfolio by harnessing its expertise in regions that have not become as competitive as South America, particularly due to rising costs and competition for exploration opportunities.
The partnership between Orosur Mining Inc. and Jurassic Mines Ltd marks a strategic entry into the growing lithium market in Nigeria. With a solid exploration team in place and a well-structured investment plan, Orosur is poised to tap into significant lithium resources, contributing to its overall growth and diversification in the mining sector.
Original Source: www.accesswire.com