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- Omnia Metals (OM1) ekes promising early-stage results with rock chip samples collected at its Lac des Montages lithium project in James Bay
- Two hundred and eighty rock chips contain pathfinder elements often coincident with lithium mineral systems and these reflect just 10 per cent of sampling conducted to date
- Raging wildfires in James Bay have led to an evacuation of the entire region and sampling will pick up once the weather improves
- Meanwhile, the company continues to develop its work across its Australian assets too, namely at its Salt Creek project in Albany and its Old Basin project in the Kimberly
- OM1 shares are down 20 per cent, trading at 18 cents at 1:23 pm AEST
Omnia Metals (OM1) has managed eke promising early-stage results with rock chip samples collected at its Lac des Montages lithium project in James Bay.
Two hundred and eighty samples have returned evidence of geochemistry showing lithium-caesium-tantalum pegmatite granites, which stand as early-stage evidence that a lithium system is likely to be discovered.
The 280 rock chips collected reflect only 10 per cent of the entire field work planned for the project before the entire James Bay region was evacuated due to fires.
Some companies have lost equipment to the fires, given that evacuation orders were relatively immediate.
Once conditions improve, the company is set to run ahead with its collection of hundreds of other rock chip samples.
“It’s been a frustrating start to the Lac des Montagnes exploration plans with once in a 100-year fire event halting our exploration efforts with only 10 per cent of field mapping being complete to date,” OM1 Executive Director James Warren said.
“We are raring to go on the remaining 90 per cent of our exploration campaign.”
The company continues to develop its work across its Australian assets too, namely at its Salt Creek project in the Albany-Fraser Orogen region of WA.
Omnia’s Old Basin project in the Kimberley was recently subject to a geophysical survey, which found a highly prospective target for nickel-copper-sulphide mineralisation, which remains to be confirmed with drill testing.
“While our primary focus remains on the Lac des Montagnes project, we will continue to progress and cost-effectively explore our Australian assets which have the scale potential to host a Tier 1 deposit,” Warren said.
OM1 shares were down 20 per cent, trading at 18 cents at 1:23 pm AEST.
