Volta Metals Ltd (CSE:VLTA) announced it has agreed to acquire the ZigZag lithium project in northwestern Ontario, which hosts high-grade lithium, cesium, tantalum, gallium, and niobium mineralization.
The acquisition expands Volta’s presence within the emerging Seymour-Falcon Lithium Belt, a key area for critical mineral exploration.
The 2,710-hectare ZigZag Project, combined with Volta’s Falcon West and Crescent Lake Lithium Projects, now brings Volta’s total land package in the region to 8,287 hectares.
According to Volta, this consolidates one of the largest land positions within the Seymour-Falcon Lithium Belt, with lithium occurrences extending over a 10-kilometer strike length.
The ZigZag project includes the high-grade Dempster East lithium showing, which returned samples with lithium oxide grades up to 3.67%. The project area lies adjacent to the Green Technology Minerals’ Seymour lithium belt to the southwest and Volta’s Falcon West lithium system to the east, with notable potential for further lithium-bearing pegmatites.
CEO Kerem Usenmez stated that the acquisition strengthens Volta’s foothold in the area and enhances prospects for additional discoveries.
“ZigZag has excellent potential to host more than one Lithium system, with Seymour-Crescent emerging from the southwest, and Falcon from the east,” Usenmez told investors.
“Having already demonstrated our efforts with discovering multiple Lithium bearing pegmatites within Falcon, this project adds to the company's growth, with one of the best land positions in the area, and in Ontario."
Volta’s advisor, Dr Fred Breaks, noted that the ZigZag property could represent an extension of the adjacent Tebishogeshik pegmatite cluster, with promising initial findings including elevated tantalum levels. Historical samples have shown tantalum concentrations of up to 0.37%, potentially making the area one of the most tantalum-rich lithium pegmatite groups in Ontario.
The acquisition agreement involves a cash payment of C$350,000 to seller Integral Metals, with the transaction subject to customary conditions.
In tandem, Volta announced a non-brokered private placement aiming to raise up to C$200,000 by issuing units priced at C$0.05 each. The offering is expected to close by mid-November, subject to CSE approval.