A further $2.5 million is payable when a JORC-compliant resource of 20 million tonnes is estimated, with 9.9Mt the current inventory and 50-60Mt the exploration target.

Vendor Ardiden is concentrating its focus on the Pickle Lake gold ground in northwestern Ontario.

Ardiden started divesting the lithium portfolio being acquired by Green Technology in mid-2021 when Green Technology was called Great Northern Lithium, a company formed by Primero founder Cameron Henry and RareX's Jeremy Robinson.

Great Northern subsequently became the $24 million IPO Green Technology late in 2021, with Henry a non-executive director and shareholder and Robinson a shareholder only.

In April 2022 Green Technology raised $55 million by issuing new shares priced at $1.05 each, with the IPO having been done at 25c per share.

The raising in April featured about $14 million invested by Lithium Americas Corp, a multi-billion North American-listed company with brine and hard rock assets on both American continents.

Green Technology's shares were at about 85c early this week giving it a market capitalisation of about $215 million.

Ardiden was capitalised at about $21 million.