The lithium ground in the Pilbara can be acquired for A$740,000 of which $140,000 is cash and the balance shares, while the potential consideration for ground near First Quantum's Ravensthorpe operation comprises $40,000 cash and $900,000 worth of shares.

The current owners of the lithium ground are Westoz's Paul Watts and Arnel Mendoza, while the Ravensthorpe tenure is in the hands of Pyramid Minerals' Beau Nicholls.

If ConsZinc continues to like what it sees during due diligence, the deals could be wrapped up by June 30.

Meanwhile, the company is set to raise $1.5 million cash by issuing new shares at 2.5c, with major shareholder Copulos Group to invest $300,000 and, in the process, slightly reduce its stake in the company to 29.7%.

So far as ConsZinc's zinc mining is concerned, the Plomosas mine continues to disappoint, "with production targets (in the current quarter) not being met due to a series of supply issues of spare parts, diesel and key reagents which have been impacted by global and regional supply chain challenges".

ConsZinc got involved in Plomosas about seven years ago.

Shares in ConsZinc were up 14% to 3.3c in morning trade, capitalising the company at $10 million.

The stock was at levels around 30c in September 2018.