Cassius Mining Ltd (AU:CMD) has released an update.
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Cassius Mining Ltd has commenced due diligence core drilling through its subsidiary at the Chenene Lithium Project in Tanzania, with AustChina Holdings starting with visible spodumene discovery from a shallow depth. The sale of Cassius’s subsidiary to AustChina includes multiple payment milestones based on exploration success, including trenching and drilling targets, and a potential $200,000 payment or equivalent in shares for a significant lithium resource discovery. Additionally, a 1% net smelter royalty on future lithium production will be issued to Cassius upon contract completion.
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