Lithium Prospects Drive Nearly $6 Million in Subsurface Mineral Bids
CANADA, July 11 - Released on July 11, 2024
The Government of Saskatchewan's first subsurface mineral public offering of the fiscal year, held on Monday, July 8, 2024, generated $5,935,425.46 in revenue, driven by interest in lithium potential.
Of the 18 subsurface permits posted for this offering, 16 received acceptable bids covering a total of 39,650.88 hectares. The permits, which are prospective for lithium, are located primarily in southeast Saskatchewan.
Synergy Land Services Ltd. spent $3,928,901.00 to acquire 11 permits for a total of 29,292.46 hectares. The permits are east of Weyburn, between Stoughton, Arcola and Lampman.
The highest bid also went to Synergy Land Services Ltd., which offered $976,229.00 for a 7,413.52 hectare block located northeast of Lampman.
Millennium Land Ltd. bid $1,974,126.96 to acquire four permits for a total of 9,061.05 hectares east of Weyburn between Stoughton and Arcola.
In west-central Saskatchewan, NRG LandSolutions Inc. bid $32,397.50 to acquire one permit southeast of Kerrobert, which measures 1,297.37 hectares.
Lithium is one of the 27 critical minerals that occur in Saskatchewan that will play a key role in the province achieving the goals set out in Saskatchewan's Critical Minerals Strategy. Several firms are actively pursuing lithium exploration and production in the province.
There are three subsurface mineral public offerings scheduled each fiscal year. The next offering is scheduled for November 25, 2024.
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