Comet Lithium Sells Ducran Asset to Fund Focus on Pollux Critical Minerals Project

The latest announcement is out from X-Terra Resources ( (TSE:CLIC) ).

Comet Lithium has sold its non-core Ducran polymetallic exploration property in Québec to IAMGOLD for $1.25 million in cash, fully exiting the asset and transferring related royalty buyback rights while ensuring the original royalty remains in place. The deal provides non-dilutive capital the company plans to redirect toward advancing its Pollux lithium–cesium–tantalum project in the James Bay region, underscoring a strategic pivot toward high-potential critical mineral assets and sharpening its focus on building value around its flagship discovery.

Management highlighted that Pollux, recently renamed from Elmer East to reflect the growing importance of cesium-bearing mineralization and the identification of pollucite, has shown highly evolved pegmatites typical of fertile LCT systems. By monetizing Ducran and concentrating resources on Pollux and its broader James Bay portfolio, Comet Lithium aims to strengthen its positioning in the critical minerals space and potentially benefit shareholders through a more focused, capital-efficient exploration strategy.

More about X-Terra Resources

Comet Lithium Corporation is a Québec-based mineral exploration company focused on lithium and other critical minerals. Its portfolio spans several highly prospective assets in the James Bay District, including the flagship Pollux lithium–cesium–tantalum project, the Liberty Property near Winsome Resources’ Adina discovery, and the Troilus East Property adjacent to Troilus Gold’s gold-copper project.

Average Trading Volume: 43,112

Technical Sentiment Signal: Buy

Current Market Cap: C$10.4M

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