- Loyal Lithium (LLI) expands its Trieste lithium project in the James Bay lithium district of Québec, Canada
- The company has staked 43 new claims in a previously reserved hydroelectric flood zone, expanding its project by 31 square kilometres to 251 square kilometres
- While the new area was previously explored for other minerals and metals, Loyal Lithium’s CEO Adam Ritchie says it has never been explored for lithium
- Before defining a field exploration program, the LLI team will carry out a detailed review of the historical exploration data obtained through the acquisition and staking
- Shares in Loyal Lithium are up 1.8 per cent trading at 56.5 cents at 2:58 pm AEDT
Loyal Lithium (LLI) has expanded its Trieste lithium project in the James Bay lithium district of Québec, Canada.
The company has staked 43 new claims in a previously reserved hydroelectric flood zone, expanding its project by 31 square kilometres to 251 square kilometres.
The Trieste Lithium Project now covers a 39-kilometre-long contact zone in the Trieste Greenstone Belt, 14 kilometres east and along strike from Winsome Resources’ (WR1) Adina lithium project.
It hosts multiple historically mapped pegmatite outcrops and an anomalous lithium assay result of 180 parts per million.
While the new area was previously explored for other minerals and metals, Loyal Lithium’s CEO Adam Ritchie said it had never been explored for lithium.
Before defining a field exploration program, the LLI team will carry out a detailed review of the historical exploration data obtained through the acquisition and staking.
The new land builds on an existing agreement with the vendor, Jody Dahrouge for the Brisk project, which has been amended to include a one per cent net smelter royalty on all minerals recovered from the new claims to the vendor.
LLI has also paid $7994 in staking fees to Jody Dahrouge under the updated key terms.
Shares in Loyal Lithium were up 1.8 per cent trading at 56.5 cents at 2:58 pm AEDT.