True North Gems Inc. [TGX-TSXV] has entered into an agreement with AUQ Gold Mining Inc. [AUQ-TSXV] whereby it can earn a 50% interest in the Nabikok lithium exploration project in the Abitibi region of northwestern Quebec.
Under the terms of the agreement, AUQ Gold is required to spend $600,000 over three years, of which $100,000 must be spent in the first year to earn a 50% interest.
The Nabikok lithium exploration project: The Nabikok pegmatite project is an early-stage lithium-bearing spodumene pegmatite prospect composed of 155 exploration claims, located in the eastern region of the Abitibi belt, Quebec, Canada. The project is located 47 km southwest of Val d’Or and 67 km southeast of Cadillac, Quebec.
In 2022, True North Gems completed two pre-field, exploration initiatives on the Nabikok property: a high-resolution heliborne magnetic and spectrometric survey and the acquisition of high-resolution multispectral satellite imagery. Based on available information, these are the first geoscientific data collected from the Nabikok property as it is currently configured.