Mining
Friday, March 1st, 2024 4:52 pm EDT
Key Points
- Exploration Highlights: Discovery Lithium Inc. has reported significant findings from its 2023 exploration program in Quebec, particularly at the Lac Belanger claim area and the Serindac Lake claims. Positive lithium, cesium, and tantalum (LCT) geochemistry has been observed, indicating potential for lithium mineralization in pegmatite occurrences. These findings pave the way for further exploration in 2024, with plans for phase 2 exploration targeting areas of increased LCT-bearing pegmatite potential.
- Prospecting Results: The company’s exploration efforts have yielded promising results across multiple projects, including the identification of lithium pathfinder minerals in pegmatites in the Nunavik region. Mapping efforts have revealed numerous pegmatites, with rock samples exhibiting significant lithium values. Additionally, the Vaubert Lake area has shown high lithium grades in granodiorite basement rocks, highlighting extensive potential for lithium exploration.
- Future Exploration Plans: Discovery Lithium Inc. is planning phase 2 exploration programs on its Quebec projects, focusing on further prospecting, mapping, and sampling. Other exploration tools such as airborne magnetic surveys, till sampling, and lidar may also be utilized. These efforts aim to outline drill targeting and facilitate drilling activities in the latter half of 2024. Additionally, the company is actively evaluating prospective lithium and battery metal properties within North America to expand its portfolio.
Discovery Lithium Inc. has provided the following summary of its recently concluded 2023 exploration program in the province of Quebec.
Highlights:
- The Lac Belanger claim area showed large pegmatite occurrences which are targeted for phase 2 exploration based on positive lithium, cesium and tantalum (LCT) geochemistry.
- Lac Belanger presented tourmaline-bearing pegmatites showing increased lithium and possible fractionation trends toward an as-yet unexplored part of the claim area.
- Farther north, initial prospecting and sampling on the Serindac Lake claims yielded pegmatites with anomalous values of lithium in a supracrustal volcanic sequence paving the way for continued exploration across the extensive landholding.
- All outstanding results from 2023 have been received and are being interpreted by Discovery Lithium’s exploration team.
Company technical director Dr. Jacob Verbaas, PGeo, states: “We expect 2024 to be an exciting year for the company. We have laid a solid foundation with the highly efficient exploration programs we conducted over our northern Quebec claim blocks and continue to explore for lithium at our extensive 75,256-hectare Serindac Lake project in this new exploration hot spot. Perhaps unexpectedly, but no less exciting, is that with only several days of initial prospecting, our claims north of the Gulf of St. Lawrence in Quebec have yielded an emerging target area based on LCT vectors in two separate large pegmatites. The geochemistry is compelling, and we look forward to going back to this region once the weather is amenable.”
Lac Belanger: vectoring to lithium mineralization
At Lac Belanger, 18 rock samples were taken at eight localities over three days of sampling and prospecting. One large pegmatite yielded tourmaline in five out of six rock samples and an increasing lithium grade of up to 59 parts per million toward the south where it disappears under overburden. The pegmatite is also anomalous in cesium with an average value of 11 ppm. A second pegmatite with tourmaline appears to yield a similar vector of mineralization toward the southwest, with a high of 39 ppm lithium. Taken together, these values and observed mineralization point to an area of increased LCT-bearing pegmatite potential under overburden in the centre of the claim. This area is a prime target for follow-up exploration in 2024. Potential methods used for phase 2 exploration include heavy mineral analysis of till samples to identify the mineral spodumene and continued prospecting and sampling. The average values of 18 rock samples on the Lac Belanger claims for Li, Cs and Ta were 20 ppm, 9.1 ppm and 1.9 ppm, respectively.
Route du nord project, James Bay
The initial reconnaissance work at the Route Du Nord project in James Bay revealed that a substantial portion of the claim is covered by overburden and bogs. Hence only a small portion of the claim was truly assessed in 2023. A total of 35 samples were taken, all of which yielded negligible lithium values.
Nunavik projects: discovery of lithium pathfinder minerals in pegmatites offers extensive potential across the claim areas.
To date, 31 new pegmatites have been mapped in addition to two known pegmatites at Serindac Lake. A total of 102 samples were analyzed and yielded a high of 31 ppm lithium with an average of 10 ppm lithium. The two pegmatites that yielded the highest lithium values had widths of over 20 metres and contained pathfinder minerals such as tourmaline and muscovite. Lake sediment samples in the immediate area are higher in lithium concentration than those of the rock samples, indicating the potential for buried higher-grade lithium concentrations in pegmatites.
At Vaubert Lake, eight new pegmatites were discovered. These as well as historical pegmatites were sampled. A total of 222 assays yielded a high of 77 ppm lithium and an average of 20 ppm lithium. Most of the higher lithium grades were in granodiorite basement rocks.
2024 lithium exploration
The company is currently planning phase 2 exploration programs on its six wholly owned projects in Quebec. The phase 2 exploration will likely consist of further prospecting, mapping and sampling and may include other exploration tools such as airborne magnetic surveys, till sampling and lidar. The phase 2 exploration programs are expected to outline drill targeting and drilling in the latter half of 2024.
In addition to Discovery Lithium’s highly anticipated 2024 work programs, the company is in a strong position to bolster its lithium portfolio. The Discovery team is actively assessing and evaluating prospective lithium and battery metal properties within North America, strengthening its land package dedicated to exploring and discovering domestically sourced battery metals.
Quality assurance/quality control
Grab samples of the Serindac Lake, Vaubert Lake and Route Du Nord project were analyzed at SGS and samples of the Lac Belanger claim were analyzed by Bureau Veritas. Samples were analyzed using a combination of inductively coupled plasma emission spectroscopy and inductively coupled plasma mass spectrometry. Duplicates and standards were inserted at regular intervals by both laboratories and all QA/QC samples were considered to be in acceptable ranges.
Qualified person
The technical content of this news release has been reviewed and approved by Mike Kilbourne, PGeo (OGQ No. 1971) who is an independent qualified person (QP) as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.
This news release includes market and industry data obtained from publicly available sources and other sources believed by the company to be true. Although the company believes them to be reliable, the company has not independently verified any of the data from third party sources referred to in this news release or analyzed or verified the underlying reports relied upon or referred to by such sources, or ascertained the underlying assumptions relied upon by such sources. The company does not make any representation as to the accuracy of such information.
About Discovery Lithium Inc.
Discovery Lithium is a Canadian exploration company focused on advancing mineral resource projects in North America. The company holds a 100-per-cent interest in 1,675 mineral claims in Serindac Lake and 2,113 mineral claims in Vaubert Lake for a combined total of approximately 164,283 hectares (approximately 405,952 acres) located in the Nunavik region of Northern Quebec, and with a further total of 303 mineral claims comprising approximately 16,392 hectares (approximately 40,505.5 acres) identified as the Route De Nord, Lac Belanger, Lac Ferland and Lac Roberston properties located across the northern and eastern regions of Quebec, including the prolific lithium district of the James Bay region. Additionally, the company is actively advancing its ESN project for gold exploration in Nevada and evaluating the Koster Dam project in central British Columbia through a joint venture with Cariboo Rose Resources.
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