TSX-V-listed Green Battery Minerals has entered into an option agreement with fellow-listed Volt Carbon Technologies to co-develop the Berkwood graphite project, in Quebec.
Volt has an option to acquire a 5% interest in the project by funding C$150 000 in exploration before the end of December and making a one-time cash payment of C$1.5-million before the end of next year.
Volt and Green Battery have been collaborating for the past year. Volt has created lithium-ion batteries with materials from the Berkwood graphite project using its proprietary graphite processing technology.
Green Battery says Volt has been able to do so without needing any water, chemicals or reagents to produce greener, cleaner and more environment-friendly batteries.
“Auto manufacturers and battery producers are looking for a clean North America-based supply chain of battery minerals. One of the primary uses for graphite is that it is used as the anode material in lithium-ion batteries. Currently, there is only one producing graphite mine in North America. Numerous more graphite mines will be needed to keep up with the electric vehicle demand that is forecasted,” Green president Tom Yingling said.
The current mineral resource at the Berkwood project includes an in-pit constrained resource totalling 1 755 300 t of indicated resources at 17.00% graphitic carbon and 1 526 400 t in inferred resources at 16.39% graphitic carbon.
“With plans to expand this current mineral resource, Green Battery hopes to help satisfy some of that demand,” said Yingling.