Wemindji property is located near the village of the same name, immediately to the west of the MIA Lithium discovery (Q2 Metals). It consists of 1 claim block covering 2,590 hectares. The property is located north of the road leading to Wemindji and is easily accessible with ATV’s. The MIA Lithium discovery consist of a series of spodumene bearing pegmatites located along an ENE-WSW axis which might continue west onto the Wemindji property.
A preliminary evaluation of the area consisting of a study of satellite images indicated the presence of several elongated pale colored rock formations, well exposed because of recent historical wildfires that are consistent with the presence of pegmatite dykes.
The terms of the option agreement between Opus One and the owners consists of a cash payment of 40,000.00$CDN, payable upon the closing of a future financing within the next 6 months; 4,250,000 Opus One shares, valued at 0.05$ per share and 1,000,000 warrants exercisable at 0.10$ for a period of 18 months; all of the above divided 50% within the two claims owners. 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 both properties recently acquired in the area (Wemindji and LaGrande). A field crew should be mobilized in late July. The field program is fully funded.