Cullinan Metals Acquires Wakeman Lake Lithium Property
VANCOUVER, British Columbia, June 19, 2023 (GLOBE NEWSWIRE) -- Cullinan Metals Corp. (CSE: CMT) (OTCQB: CMTNF) (FWB: 7KO) ("Cullinan" or the "Company") is excited to announce the signing of an option agreement (the "Agreement") to acquire a 100% interest in the highly prospective Wakeman Lake lithium property (the "Property") located in Northwestern Ontario.
- VANCOUVER, British Columbia, June 19, 2023 (GLOBE NEWSWIRE) -- Cullinan Metals Corp. (CSE: CMT) (OTCQB: CMTNF) (FWB: 7KO) ("Cullinan" or the "Company") is excited to announce the signing of an option agreement (the "Agreement") to acquire a 100% interest in the highly prospective Wakeman Lake lithium property (the "Property") located in Northwestern Ontario.
- Situated approximately 100 km east of Red Lake, in the Red Lake Mining Division of Northwestern Ontario, the Property is underlain by the Allison Lake Batholith, the largest known fertile, peraluminous granite mass in Northwestern Ontario.
- Notably, a sample taken at Wakeman Lake has shown the presence of spessartine, a garnet type that serves as an indicator for LCT pegmatites.
- Under the terms of the Agreement, Cullinan has the right to acquire a 100% interest in the Property through aggregate cash payments of $110,000 and the issuance of 210,000 shares of Cullinan over a two-year period.