Major Lithium Acquisition for Equitorial Exploration

ZURICH, SWITZERLAND / ACCESSWIRE / July 27, 2016 / Today, Stephan Bogner from Rockstone Research published an initiating coverage on Equitorial Exploration Corp. (TSX.V: EXX) as the company has announced the acquisition of the Little Nahanni Pegmatite Group (LNPG) Lithium Project from Strategic Metals Ltd. yesterday.

This property hosts the rare but highly prolific pegmatite-type LCT (Lithium-Cesium-Tantalum), which the world’s largest active lithium mine, Greenbushes in Australia, is also hosting (at an average grade of 2.8% Li2O). LNPG’s best rock samples from spodumene-bearing pegmatites assayed between 1.74% and
3.77% Li2O. Channel samples returned up to 1.59% Li2O across 10 m. Drilling in 2007 resulted in 2 significant lithium-enriched intervals including 1.2% Li2O over almost 11 m and 0.92% Li2O over 18 m. Hence, this property is already somewhat advanced with significant lithium grades demonstrated at surface with sampling and at depth with drilling.

Strategic Metals has just completed a 2 week program consisting of mapping, prospecting and channel sampling. The program was designed to evaluate grade, size and density of lithium-bearing pegmatites within 4 of the 7 known dike swarms. Results are expected shortly. Strategic Metals’ compensation for the sale is 7.5 million shares plus 2.5 million warrants of Equitorial, along with a 2% NSR. Thus, Strategic Metals appears to be comfortable in selling this project against equity, whereas Equitorial currently has nearly 53 million shares in the market and as such may control in excess of 10% of the company.

The full report can be accessed with the following links:

English (PDF):

http://rockstone-research.com/images/PDF/Equitorial1en.pdf

English (web version):

http://rockstone-research.com/index.php/en/research-reports/1286-Major-Lithium-Acquisition-for-Equitorial

German (PDF):

http://rockstone-research.com/images/PDF/Equitorial1de.pdf

Disclaimer:
Please read the full disclaimer within the full research report as a PDF as
fundamental risks and conflicts of interest exist.

SOURCE: Rockstone Research

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