DEEP Earth Energy and Prairie Lithium have announced an agreement that will see subsurface mineral permits exchanged and a collaboration to share well data and potential resource testing opportunities.

Prairie Lithium will acquire subsurface mineral permits stretching from the top of the Madison Group down to the top of the Red River Formation from DEEP’s subsurface mineral tenure.

DEEP will then receive the subsurface mineral permits from the top of the Red River to the Precambrian. DEEP will continue to keep all lithium potential from the top of the Red River to the Precambrian.

The agreement will also establish an Area of Mutual Interest in the Williston Sedimentary Basin located in southeast Saskatchewan. A news release from the two companies says the Area of Mutual Interest covers a range of 40 Townships.

DEEP’s CEO Kirsten Marcia says “The mineral exchange and collaboration between our two Saskatchewan-based companies is a testament to our made-in-Saskatchewan ability to work together for multiple economic wins.”