Q Battery Metals shares to trade on CSE today

Black Tusk Resources Inc. [TUSK-CSE] has changed its name to Q Battery Metals Corp. The company’s trading symbol has also changed to QMET.

The shares were scheduled to begin trading under the new name and symbol today.

The company has said the new name is reflective of its portfolio of properties in Quebec that are currently being explored for potential lithium, nickel, copper, zinc and molybdenum and platinum group elements.

The company recently acquired the Pegalith project, that consists of claims that were staked to cover historic mineral showings that are hosted in coarse mica and feldspar pegmatites. The pegmatite minerals were mined, on a small-scale basis, as industrial minerals.

The historic Leduc Mine, located approximately 6.0 kilometres southwest of the Pegalith property, contains a small lithium-bearing resource (approximately 230 tonnes of 5.39% Li20) from pegmatitic rocks, indicating the potential for lithium-bearing pegmatites in the region.

The pegmatites at Leduc and those underlying the Pegalith project are hosted in a northwest trending belt of regionally mapped metamorphic rocks, including paragneiss and quartzite. A phase 1.0 exploration is to be undertaken by Q Battery Metals this year to test these pegmatites for lithium potential.

In a press release on February 6, 2023, Q Battery said it acquired the Pegalith claims via the acquisition of 1396427 BC Ltd. (427 BC). The claims cover 636 hectares located 25 kilometres north of Gatineau, Que.

The company said the claims have good existing available access for exploration, including initial sampling of pegmatitic outcrops for lithium. In the press release, the company said it has made an initial cash payment of $16,000 to the 427 B.C. shareholders and has agreed to issue 4.6 million units to the shareholders at a deemed price of $0.075 per unit, valued at $345,000.

Each unit consists of one common share and one share purchase warrant exercisable at a price of $0.10 per share for a period of two years from the date of issuance.

Prior to the name change, Black Tusk described itself as a gold-focused Canadian exploration company with operations located in the Abitibi greenstone belt region of Quebec. It held 100% ownership of six separate gold and platinum/palladium properties in Canada.

The company said its portfolio includes the Mogold project, where stripping carried out in 1989 exposed a pegmatitic vein containing molybdenite with some grains of pyrite and traces of chalcopyrite. The vein material was only analysed for precious metals, the company said.

The Mogold project is located approximately 10 kilometres south of where Sayona Mining Ltd. is in the process of restarting the North American Lithium mine. The NAL mine has reported proven reserves of 1.2 million tonnes of 0.92% Li20 and probable reserves of 28 million tonnes of 0.96% Li20.

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