Winsome sees Adina lithium project’s resource rise by a stratospheric 33%

Canadian-focused lithium explorer Winsome Resources Ltd (ASX:WR1) has upgraded the resource of its Adina Lithium Project in Quebec by 33 percent, based on a program of drilling completed earlier this year.

The mineral resource estimate (MRE) for Adina now sits at 77.9 million tonnes (Mt) at an improved grade of 1.15 percent lithium oxide (Li2O), representing a 33 percent rise in global tonnage.

Additionally, the status of the resource has been upgraded, with 61.4Mt of the resource estimate (at 1.14 percent Li2O) now in the indicated category, based on the drilling program. There has also been an increase of 37 percent in lithium carbonate equivalent (LCE) to more than 2.21Mt.

In mid-April, Winsome completed a drilling program involving 186 holes for 57,756 metres as part of exploration and resource delineation work at the project, which is located in the Eeyoo Istchee James Bay region of Quebec.

Managing director Chris Evans said the resource increase would boost Winsome’s potential to build a strong project.

“The update to the MRE affirms the significance of our global resource and solidifies our position and strategic location at the heart of the green energy industry and EV supply chain in North America,” he said.

“To increase the resource by almost 20Mt while also enhancing our grade and resource category is an exceptional outcome from our latest phase of systematic drilling.

“In particular the grade which has been defined close to surface in the Main Zone is a key advantage as we progress the Adina Lithium Project. It’s important to emphasise the scale, tenor and metallurgical properties of Adina are equivalent to the tier one lithium assets globally.”

Winsome Resources was trading at $1.30 at 12:31 AEST, a rise of 5.47 percent since the market opened.