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Finance Investment, Oil Mining Resources

Loyal Lithium (ASX:LLI) – Additional Spodumene Zones Discovered at Hidden Lake

Loyal Lithium Limited (ASX:LLI) 2 mins read

Highlights:

  • Field mapping has identified six additional spodumene bearing pegmatite zones. Samples have been taken for urgent assay analysis to aid in defining high priority targets and inclusion within the upcoming Canadian winter drill program.

  • Field work, LiDAR, and orthophoto airborne surveys have been completed at the Hidden Lake Lithium Project. A total of 270 outcrop samples and 33 channel samples were collected, with assay results expected in September 2023.

  • LiDAR and orthophoto surveys will assist in identifying new pegmatite zones and provide insights into concealed extensions of known spodumene bearing dykes. Images and interpretation are expected in October 2023.

  • The field program targeted the newly identified pegmatites that are in addition to the existing four spodumene bearing pegmatite dykes that were drilled in 2018 to a limited depth of 30-50 metres, with drill hole intercepts of up to 1.81% Li2O.

  • Loyal Lithium completed the planned field work prior to the forest fires impact of the Level 3 evacuation order of Yellowknife. All staff and contractors were safely evacuated.

  • A high-resolution Aeromagnetic/Radiometric survey is planned for September 2023, once the risk of fire and smoke has subsided.

  • The four existing spodumene bearing pegmatite dykes have a cumulative strike length of 2,250 metres and remain open at length and depth.

Loyal Lithium’s Managing Director, Mr Adam Ritchie, commented:

“We are delighted to have discovered an additional six spodumene zones on our project including one on our 100% owned claim. These discoveries, coupled with our recently announced discovery at Trieste further enhances the strength of our portfolio as we now have two potentially world class spodumene assets in North America.” 

“We anticipate that the discovery of additional spodumene bearing zones at Hidden Lake will significantly increase the interpreted 2.25KM strike length of the previously known spodumene zones on our project, generating additional drilling targets and increasing the potential scale of this exciting project.” 

"Forrest fires have been notable across Canada this summer and the fires near the Yellowknife region have now reached a critical level with an evacuation order issued. Our thoughts are with the Yellowknife and First Nation Communities as authorities, dedicated volunteers and essential personnel continue to fight this threat of fire on many fronts.”

“Thankfully, our field program has been largely unaffected, and we look forward to receiving our outcrop and channel assay results will aid in refining our high priority drill targets for our winter drilling program at Hidden Lake.”


About us:

Loyal Lithium Limited (ASX: LLI) is a well-structured listed resource exploration company with projects in Tier 1 North American mining jurisdictions in the Northwest Territories, Canada, James Bay Lithium District in Quebec, Canada and Nevada, USA. Through the systematic exploration of its projects, the Company aims to delineate JORC compliant resources, creating value for its shareholders.


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

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