Reviewed by Lexie CornerDec 17 2024
United Lithium Corp. has announced that its Bergby Lithium Project has been granted national interest status in Sweden. The designation recognizes the project’s potential to supply lithium to Sweden and other parts of Europe.
The Geological Survey of Sweden issued the national interest designation, which ensures the Bergby area will be protected from actions that could hinder future mining operations. The designation aims to support long-term planning for land use and resource management.
Today’s announcement marks a major milestone in our advancement of the Bergby Lithium Project. We are very pleased that SGU decided Bergby meets the requirements to receive the national interest designation as an area with future mineral deposit importance. Access to key minerals to support the green energy transition is limited in Europe.
Scott Eldridge, President and Chief Executive Officer, United Lithium Corp.
He added, “Thus, Bergby has the potential to be a very important project to Sweden and the rest of the European Union and is now protected for that purpose. Sweden has had a national definition of mineral deposits of national interest since the 1980s. Furthermore, the country has a long tradition of mining and is currently one of the EU’s leading ore and metal-producing countries. One of the main goals of the strategy is to strengthen Sweden’s position as one of the EU’s leading mining and mineral countries.”
The SGU, established in 1858, is Sweden's government authority responsible for bedrock, soil, and groundwater matters. It oversees all mineral deposit activities, including surveys and extraction. The SGU is guided by two advisory bodies: the Advisory Council for Mineral Resources and the Advisory Council for Mineral Exploration. The SGU also supervises the Mining Inspectorate, which issues permits for mining exploration and exploitation in Sweden.
DSU Grants
The company also announced the issuance of 117,721 deferred share units (DSUs) to its independent directors at a presumed price of $0.212 per DSU. These DSUs were granted in exchange for services provided by the directors during the quarter ending October 31, 2024.
The DSUs were issued under the company’s Omnibus Incentive Plan, which was implemented on February 16, 2024. To date, the company has issued a total of 117,721 DSUs to its independent directors.
About the Bergby Project
The Bergby project comprises ten exploration licenses covering 7,897 hectares near the Gulf of Bothnia in central Sweden. It is located approximately 200 km north of Stockholm via Highway E4 and 25 km north of Gävle, an area with significant infrastructure, including highways, roads, railways, power, and the Norrsundet port. Gävle also serves as a nearby labor and supply hub.
Additionally, Bergby is situated 570 km south of Sweden’s new Northvolt lithium battery gigafactory and 440 km across the Gulf of Bothnia from Keliber Lithium’s hydroxide plant, which is under development.
The project currently includes five drill-confirmed spodumene-bearing pegmatites (Pegmatites A-E) with a total strike length of over 4,000 meters. There are also unexplained spodumene-bearing boulder trains, and much of the land remains unexplored, highlighting the significant potential for future discoveries at Bergby.