The Company holds a 100% interest in the Crescent Lake Project, which comprises 162 claim units, covering 2,592 hectares of prospective lithium bearing pegmatites. On March 4, 2016 and amended on December 6, 2016, the Company entered into an option agreement to sell its 100% interest in the Crescent Lake Project to Sunrise International Resources Ltd, a subsidiary of Argonaut Resources NL, an ASX listed company. Pending receipt of the final $150,000 option payment due on February 28, 2017, Orebodies’ interest will be reduced to a 1.5% net smelter returns royalty (“NSR”) over portions of the project.
The Company holds a 2% NSR on the Greenbush Property, which comprises 49 claim units totalling 752 hectares near Greenbush Lake, ON that covers a known pegmatite occurrence. The Greenbush Property is owned and operated by Sunrise Canada Inc., a subsidiary of Argonaut Resources NL.
The Company holds a 0.5% NSR on the McKinnon-Hawkins Gold Project, operated by Sunvest Minerals Corp., which comprises 96 claim units, totalling an area of 1,536 hectares, over a historic gold zone stretching over 3 kilometres.
The Company holds a 50% interest in the Bateman Lake Property, located approximately 75km northeast of Cochrane, Ontario, which covers a highly prospective target for graphite mineralization.