It is the second project the company has added since relisting in mid-2021 and its first move outside Australia.
An exclusive option with Canada's Noranda Royalties gives the junior 45 days to run due diligence over the Wali and Ernst Lake projects.
Wali is about 16km east of Patriot Battery Metals' promising Corvette property, which had had investors' hearts in a flutter since long before it joined the ASX in December with an impressive 156m at 2.12% lithium at CV5. More recently CV13 is shaping up as another promising discovery along a 15km trend to the west. Recent metallurgical work has been favourable.
The geology at Wali is interpreted as a "dismembered" section of the same Guyer greenstone belt that hosts Patriot's discoveries.
The greenstones occur at the contact between the intrusive tonalite to the south and granodiorite to the north, both of which may be the source granites for the large pegmatites in the region.
Cosmos Exploration secured the Corvette Far East project just before Christmas, which dovetails into Wali's 51sq.km of tenements.
Ernst Lake covers 56sq.km, and is located 13km to the south, along the Trieste greenstone belt that is interpreted to be part of the same formation that hosts Winsome Resources' emerging Adina discovery where drilling returned 107.6m at 1.34% lithium oxide from 2.3m, including 21m at 1.52%.
Initial work suggests 10km of prospective strike within Ernst Lake.
Loyal Lithium (previously Monger Gold) secured the largest large position along the Trieste belt last year, with early stage work promoted as extremely promising, with 153 logged outcrops.
It first entered the area by doing a deal with Noranda, before expanding its holdings.
Resource Base is hopeful of getting its own boots on the ground in June to confirm the presence of spodumene.
It has paid a non-refundable C$50,000 for its option.
Assuming the deal completes, Resource Base will pay $300,000 cash and issue six million shares, worth about A$780,000 based on the previous close.
Noranda will also up eight million performance shares if a diamond intercept of at least 20m at 1% lithium is recorded before the end of 2024, and 2% royalty on any production.
Resource Base, which has about A$1 million cash remaining, needs to spend $600,000 within the first year.
Another capital raising seems likely in the near future.
It raised $900,000 at 7.5c in October, and $1.2 million at 20c in late 2021 when it acquired its initial position in the Mitre Hill project.
Mitre Hill has a maiden resource of 21 million tonnes grading 767 parts per million total rare earth oxide.
The project spans some 7022sq.km of South Australia and Victoria on the southern margin of the Murray Basin.
Resource Base returned to the by raising $5.5 million at 20c for drilling of the Black Range VHMS project, also in Victoria, a costly and high-risk but high reward geological puzzle in the Stavely volcanic belt it is still trying to unlock.
Shares in Resource Base were up 15% today at 15c, half its 12 month peak.
At current levels the company is capitalised at $10 million.
