(3 minutes read)
Barrel Energy Inc. has signed an agreement with Kokanee Placer Two to acquire the “Titan X Lithium Project” in Tanzania. The new Titan X Lithium Project is located in northeastern Tanzania. The mineral is used in the manufacture of the EV battery-material supply chain
Tanzania has the potential to emerge as one of the largest producers of lithium, the precious mineral used for the manufacture of batteries for electric vehicles. Barrel Energy Inc. has signed an agreement with Kokanee Placer Two to acquire the “Titan X Lithium Project” in Tanzania. The new Titan X Lithium Project is located in northeastern Tanzania. The mineral is used in the manufacture of the EV battery-material supply chain. Titan X sits directly south of and is directly adjacent to the massive Titan 1 lithium project of Titan Lithium (OTC: CDSG).
The project is located near excellent infrastructure with access by tertiary roads off of a paved highway with a nearby rail line, two international airports at Arusha and Kilimanjaro, and an ocean shipping port in the city of Tanga.
The Titan 1 project (CDSG) has widespread high-grade lithium within clay soil. Titan 1 covers over 65 square kilometers and grades approximately 1% Li2O. In some samples towards the south end of Titan 1, very near to “Titan X”, the recorded grades were up to 4.8% Li2O.
Read Also:
Analysts say that ‘The Titan 1’ project has every indication to be a world-class standout and the Titan X project holds great promise to be in the same league as lithium grades similar to Titan 1. The Titan X Lithium Project measures 97.4 square kilometers in size (approx. 24,075 acres) and spans a sparsely vegetated playa basin that is likely the southward extension of the generally north-south trending Titan 1 mineralization.
