La Grande property is located within the La Grande lithium exploration district. The property is located approximately 70 km to the west of the Corvette discovery (Patriot Battery Metals) and 10 km to the south of the Cancet discovery (Windsome Resources) and consists of 3 claim blocks covering an area of 1,541 hectares. Prospecting by the previous owner outlined the presence of at least 18 pegmatites on the three blocks. Two of the three blocks are accessible by the Trans-taïga road using ATV’s. The third (and smallest) block is more remote.
The terms of the option agreement between Opus One and the owners consists of a cash payment of 40,000.00$CDN; 4,250,000 Opus One shares, valued at 0.05$ per share and 1,000,000 warrants exercisable at 0.10$ for a period of 18 months; all of the above divided within 3 claims owners based on their ownership percentage. The transaction is conditional upon TSX Venture Exchange (the “TSXV“) approval.
The company is gearing up for a summer prospecting, mapping and sampling program on the property. A field crew should be mobilized in July, hoping that the wildfires issue will be resolved by then. The field program is fully funded, and all needed crew has been secured.