Cassius Mining Ltd (AU:CMD) has released an update.
Cassius Mining Ltd has commenced due diligence core drilling through its subsidiary at the Chenene Lithium Project in Tanzania, with AustChina Holdings starting with visible spodumene discovery from a shallow depth. The sale of Cassius’s subsidiary to AustChina includes multiple payment milestones based on exploration success, including trenching and drilling targets, and a potential $200,000 payment or equivalent in shares for a significant lithium resource discovery. Additionally, a 1% net smelter royalty on future lithium production will be issued to Cassius upon contract completion.
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