MGX to earn into Belmont’s Nevada lithium property

Diversified miner MGX Minerals has entered into an option agreement to earn into the Kibby Basin lithium brine project, in the western portion of the Great basin in Nevada, the Canadian firm announced on Friday. MGX will acquire an initial 25% interest in Kibby Basin from TSX-V-listed Belmont Resources by funding up to C$300 000 for a drilling programme. The target area will be an anomaly discovered by a magnetotelluric survey carried out by Belmont in January this year.