en.Wedoany.com Reported - On June 19, Australia's Charger Metals (ASX:CHR) signed an agreement to sell its Bynoe lithium project in the Northern Territory to Core Lithium (ASX:CXO) for a total consideration of A$4.75 million. Core Lithium's wholly-owned subsidiary BLPL will pay A$3.75 million upon completion of the transaction, and A$1 million within 10 days after the project's inferred resource reaches at least 8 million tonnes with a lithium oxide grade of no less than 1%, while granting Charger a 1% gross revenue royalty. The gross revenue royalty received by Charger from the project's lithium product income is capped at A$10 million. The project is located within Core Lithium's Finniss lithium project, which on the same day commenced a diamond drilling program at the Blackbeard target.
On June 18, Voltaic Strategic Resources (ASX:VSR) and its former joint venture partner Delta Lithium (ASX:DLI) jointly terminated an earn-in and joint venture agreement dating back to March 2024, regaining full ownership and control of the Ti Tree lithium project in Western Australia. Voltaic Chairman Daniel Raihani stated that the company thanks Delta for its collaboration on the Ti Tree project, and has now regained full control of a highly prospective tenement portfolio in the Yinnetharra lithium district. It will analyze and review all exploration data compiled by Delta Lithium to identify LCT (lithium-cesium-tantalum) targets for advancing drilling.
On the same day, Infinity Metals (ASX:INF) signed an option agreement to acquire the Swansea copper mine in Arizona from private company Koala Resources. The exclusive agreement is exercisable over two years, with consideration paid in installments. Infinity has paid an option fee of US$27,000 (A$38,600) and will pay US$10,000 each at 6, 12, and 18 months after the execution date. Upon closing, it will also pay US$25,000 in cash and A$200,000 in shares. If Infinity obtains a JORC-compliant resource containing at least 20,000 tonnes of copper within five years of execution, an additional US$25,000 in cash and A$100,000 in shares must be paid. Infinity is conducting a A$2.25 million placement to support acquisition costs and permitting and exploration activities at Swansea, while continuing to advance exploration of its existing Australian asset portfolio. The mine historically produced approximately 29 million pounds of copper at a grade of 2.43% before its closure in 1937.
On June 17, Zinc of Ireland (ASX:ZMI) completed the acquisition of Meclex, obtaining its two patented hydrometallurgical metal recovery technologies, ARGO and VOLTA. These technologies offer low-temperature and low-emission alternatives in response to environmental and regulatory pressures on pyrometallurgical processes. Zinc of Ireland has restarted the test work program for VOLTA, with ARGO test work set to begin next month. The company raised A$5.5 million through a placement to support the development of ARGO and VOLTA and exploration work at Kildare. The placement issued shares at A$0.01 per share, with 466.55 million shares allocated and 83.45 million shares remaining to be allocated. Company directors subscribed for a total of A$550,000. CEO Greg Ross stated that the acquisition and financing will enable the company to accelerate its commercial and development plans, becoming a "key supplier of metal recovery technologies." He added that multiple test work programs for the ARGO technology will commence in Europe in July, focusing on collaboration with world-renowned laboratories and major industry players to achieve near-term key development milestones; commercialization work for the VOLTA technology is also continuing, and with pilot and demonstration plants coming online, increased market attention is expected in the coming months.
On June 16, Redcastle Resources (ASX:RC1) executed an earn-in and joint venture agreement to acquire a 60% interest in the Kilkenny Belt Package project, expanding its footprint in the Eastern Goldfields of Western Australia. Redcastle will pay A$59,000 in cash, issue 500,000 shares, and invest A$1.25 million in exploration expenditure over two years, which begins after completing necessary heritage survey programs. Following the earn-in period, activities will be funded on a 60:40 basis through an unincorporated joint venture, with Redcastle providing joint venture management. This transaction expands the company's contiguous tenement portfolio in the Eastern Goldfields by approximately 6,419 hectares of non-overlapping tenement interests. The company has commenced target generation activities, with initial field work planned for the second half of 2026 and an initial drilling program expected to begin in the first half of 2027, funded by cash flow from the Redcastle Reef mining operation. Chairman Ray Shaw stated that the transaction consolidates the company's regional consolidation strategy, committed to transitioning from an explorer to an active gold producer.
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