Novo Resources (ASX:NVO) said Austroid Australia, a related entity of Liatam Mining, acquired the remaining 20% of the Quartz Hill joint venture in Western Australia as well as its 100% interest in gold and silver rights in the JV for AU$850,000, according to a Wednesday filing with the Australian bourse.

Liatam Mining remains a 6% shareholder in Novo, the filing said.

The mining firm maintains exposure to the battery metals sector through the Harding Battery Metals JV with Sociedad Química y Minera de Chile subsidiary SQM Australia, according to the filing.

Novo Resources shares rose nearly 8% in afternoon trade.