Ophir Metals poised to trade under new name

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Ophir Metals Corp. [OPHR-TSXV, OPHRF-OTCQB, 80M-FSE], a company formerly knowns Ophir Gold, said it has filed a Notice of Alternation effecting its change of name. It said the new name will more accurately reflect the company’s diversified metals portfolio, primarily in lithium at its James Bay, Que., projects and gold and silver at the Breccia Gold project in Idaho.

However, the company said its stock symbol remains unchanged. Ophir will begin trading under the new name, effective at the market open on June 18, 2024.

Ophir is a diversified mineral exploration company with a focus on exploration and development of the Radis and Pilipas lithium properties in James Bay, Quebec, and the past-producing Breccia gold property located in Lemhi County, Idaho.

Ophir holds an option to earn a 100% interest the Breccia Gold property from DG Resource Management Ltd. In December, 2022, the company struck a deal with Eastmain Resources Ltd, a unit of Fury Gold Mines Ltd. [FURY-TSX, NYSE American], that gives it the option to earn a 100% interest in the Radis property over a three-year period. Radis consists of 152 claims, covering 7,850 hectares.

The company has said a greenstone belt over the property contains at least one known lithium pegmatite and is considered highly prospective for additional lithium pegmatites.

Ophir also holds an option to earn a 70% interest in the Pilipas property over a three-year period from Azimut Exploration In. [AZM-TSXV].

Ophir recently announced plans for an inaugural exploration campaign on the Pilipas property, which it said is proximal to existing hydroelectric power that flanks the property to the east, an all-season road that crosses the western side of the property.

The surface exploration program was expected to include three to four weeks of geological prospecting, rock sampling, and mapping, as well as a property-wide LiDAR and orthophoto survey and interpretation. It pegged the budget at $500,000.

The primary objective is to evaluate the numerous high priority targets identified during a historical data compilation and satellite imagery analysis of the property. It said several large outcrops, historically described on the SIGEOM database as pegmatite dykes as well as number satellite image derived pegmatite targets were identified.

Several of the confirmed or probable pegmatite outcrops are proximal to the newly discovered 175-metre long by 42-metre wide Ninaaskumuwin spodumene pegmatite located immediately south of the property.

Ophir was in the news last year when the company said it had identified a new potential spodumene-bearing zone as well as multiple lithium in soil anomalies at its Radis property.

Ophir Gold shares were unchanged Friday at $0.085. The shares are currently trading in a 52-week range of 59 cents and $0.08.

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