Market impressed by Fin’s 12-metre thick pegmatite discovery in Canada

Canada-focused lithium and battery metals explorer Fin Resources Ltd (ASX:FIN) has seen its shares jump more than 18 percent on news of its discovery of a near-surface spodumene pegmatite with a thickness of up to 12.1 metres during its maiden drilling program at the White Bear prospect in Quebec.

Fin shares were sitting at 1.3 cents at 11:17 AEST, a rise of 18.18 percent since market open on the news.

The pegmatite in question – which was identified at a depth of only 3 metres in the final hole of a diamond drilling program – has been confirmed as hosting spodumene mineralisation through both geological observations and LIBS data.

Eight diamond holes have now been drilled at White Bear, which is part of Fin Resources’ wider Mt Tremblant Lithium Projects in the James Bay area of Quebec.

Fin chairman Jason Bontempo said the company was looking ahead to more results, which would enable the company to clarify its targets into the future.

“We are extremely happy with our maiden program at White Bear, hitting our targeted spodumene zone in a number of holes,” he said.

“We eagerly await assay results that will allow us to refine our targets for potential further drilling programs this summer.”