Loyal Lithium Limited (ASX:LLI) (Loyal Lithium, LLI, or the Company) is delighted to provide an update on its maiden drilling program at its Trieste Lithium Project, located in the James Bay Region of Québec, Canada. The drilling program is targeting Dyke #01, a large, prominent weather-resistant outcrop ridge, with all drill holes to date successfully intercepting spodumene bearing pegmatite. Dyke #01 remains open in all directions with drill core displaying large and abundant spodumene crystals from surface (refer to Images 1 - 3). 14 drill holes, totalling 1,192m with ~305m of cumulative pegmatite intercepts have been completed to date.
Key Highlights:
- All drill holes to date have intercepted spodumene bearing pegmatite at Dyke #01, which remains open in all directions.
- Notable drilling pegmatite cumulative intercepts (apparent widths) include:
- 74.77m of spodumene bearing pegmatite - DIS23-014
- 30.44m of spodumene bearing pegmatite - DIS23-011
- 27.96m of spodumene bearing pegmatite - DIS23-004
- 26.74m of spodumene bearing pegmatite - DIS23-006
- 24.22m of spodumene bearing pegmatite - DIS23-005
- Additional parallel dykes have been intercepted, with drill core displaying large and abundant spodumene crystals from surface.
- Samples are now being selected for assaying.
- The drilling program has provided valuable insight into the geological setting, enabling planning for a more substantial drilling program in the upcoming Canadian winter.
- Loyal Lithium is well capitalized with $9.6m in cash to accelerate future drilling programs once current drilling results have been interpreted.
Loyal Lithium’s Managing Director, Mr. Adam Ritchie, commented: "We are delighted to have been able to commence this maiden drilling program just 6 weeks after the discovery at the Trieste Lithium Project. The geological understanding gained by this program has confirmed extensions of the spodumene bearing dyke beyond the exposed outcrop, which in turn has confirmed the possibilities of concealed extensions across the entire project.”
“The visual spodumene crystals within the core are large and abundant - in line with what we’ve seen at surface across the project. We will now have the core sent for assaying and commence planning for a more substantial drilling program in the winter.”
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
