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Panoro received US$3mn upfront for the asset and will receive additional payments totaling US$2mn upon completion of certain milestones by Hudbay. Panoro retains a 2% net smelter return royalty on production at Kusiorcco.
Neo also announced results from a second drill hole at 3Q, which yielded 238m with an average grade of 784mg/l lithium.
Final results were significantly better than the current mineral resource block model estimate on grade, tons and ounces, the Toronto-based company said.