- Burley Minerals (BUR) intercepts high-grade results from its first round of assays at its Chubb lithium project in Quebec, Canada
- Assays from the first three holes of the maiden drilling program include 8.2 metres at 1.31 per cent lithium oxide from 130.4 metres, and 7.7 metres at 1.30 per cent lithium oxide from 80.1 metres
- Burley commenced drilling in April, with 14 diamond core holes completed to date
- Meanwhile, the company is planning to finalise the acquisition of the Bouvier lithium project, located 14 kilometres northwest of the Chubb project
- Shares were down 14 per cent to 21.5 cents at 4:00 pm AEST
Burley Minerals (BUR) has intercepted high-grade results from its first round of drilling at its Chubb lithium project in Quebec, Canada.
Results from the first three holes of the maiden drill program included 8.2 metres at 1.31 per cent lithium oxide from 130.4 metres, including 4.2 metres at 1.93 per cent lithium oxide, and 7.7 metres at 1.3 per cent lithium oxide from 80.1 metres.
The assays also confirmed visual observation of spodumene, a prime lithium mineral, in the pegmatites.
“The receipt of such highly encouraging results in such a short period of time is a major milestone for Burley Minerals following the recent acquisition of the Chubb lithium project in February this year,” Burley Minerals Chairman Bryan Dixon said.
“The new drilling intersections build on a high-grade spodumene zone identified in mapping and subsequently in drilling undertaken in 2021 and 2022, and the company is eagerly anticipating the remaining assay results from the current program during June.”
Burley commenced drilling in April, completing 14 diamond core holes to date, with the program set to resume later in June.
Meanwhile, the company is planning to push ahead with the acquisition of the Bouvier lithium project, located 14 kilometres northwest of the Chubb project.
Burley was down 14 per cent, trading at 21.5 cents at 4:00 pm AEST.