Mont Royal Resources Limited (“Mont Royal”, the “Company”) (ASX: MRZ) is pleased to share the recent announcement made by Azimut Exploration Inc. (TSXV: AZM) (OTCQX: AZMTF) ("Azimut") on 19th September 2023.
The Company is excited to update its shareholders about the commencement of a lithium-focused prospecting program at the Wapatik Project earlier this month. This exploration initiative benefits from the extensive fieldwork that both Azimut and Mont Royal have diligently conducted over the past three years. With this groundwork, the exploration program is set to begin with eight (8) well-defined target areas that show significant promise for lithium exploration. (Refer to Figure 3 for details).
A comprehensive analysis of the Wapatik property has identified approximately thirty (30) distinct targets. These targets are believed to correspond to outcropping pegmatites. Notably, several of these outcrops are anomalous in lithium, cesium, and tantalum (“LCT”), as well as other associated pathfinder elements for LCT pegmatites, including rubidium, gallium, and tin.
The exploration program, led by a dedicated 5-person fieldwork team from Azimut, is anticipated to span roughly 14 days. The team will utilize advanced tools such as a portable LIBS analyzer (Laser Induced Breakdown Spectroscopy) and an XRF analyzer in the field to verify the presence of key elements of interest.
It's worth noting that the Wapatik property is strategically located approximately 20 kilometers north of Allkem Limited’s (ASX:AKE) renowned James Bay lithium deposit, which boasts a mineral resource of 110.2 Mt at 1.30% Li2O, as published in August 2023.
Mont Royal is enthusiastic about its third lithium exploration campaign in 2023, following its endeavors at Eastmain Leran and Bohier (as referenced in the ASX Release of 18 September 2023). The Company remains committed to keeping its shareholders updated and will promptly provide further information as soon as it becomes available.
Mont Royal Resources Limited (ASX:MRZ) is an Australian company incorporated for the purpose of pursuing various mining opportunities in the resources sector, with the aim of building shareholder value by acquiring, exploring, evaluating and exploiting mineral resource project opportunities.