Skip to content
Finance Investment, Oil Mining Resources

Loyal Lithium (ASX: LLI) – First drillhole assays confirm major Trieste discovery

Loyal Lithium Limited (ASX: LLI) 2 mins read

Loyal Lithium Limited (ASX: LLI), a pioneering lithium exploration company, is thrilled to announce the discovery of high-grade lithium from the Dyke #01 drill core assays at its Trieste Lithium Project in James Bay, Quebec, Canada. These results, which remain open in all directions, mark a significant milestone in the exploration of this promising site.

The Dyke #01 drill core assays have revealed a continuous intercept of 87.5 meters grading 1.3% Li2O (DIS23-014), starting from near the surface. This intercept includes an impressive 34.3 meters of 2.0% Li2O, indicating the presence of high-grade lithium deposits. Additional notable near-surface intercepts include:

  • 40.0 meters of 1.2% Li2O from 15.0 meters (DIS23-004), including 5.8 meters at 3.0% Li2O.
  • 28.8 meters at 1.1% Li2O from the surface (DIS23-006), including 6.2 meters at 2.3% Li2O.
  • 22.8 meters at 1.0% Li2O from 26.0 meters (DIS23-005), including 8.0 meters at 2.0% Li2O.
  • 20.3 meters at 1.0% Li2O from 19.7 meters (DIS23-001), including 6.0 meters at 1.8% Li2O.

The drill core assays also highlighted the presence of spodumene mega crystals, with several high-grade intervals, including 1.0 meter at 4.3% Li2O. These results follow the previously announced high-grade channel and rock chip assay results of up to 7.60% Li2O, gathered within the 20km² fertile metasediment host zone located between the Trieste Greenstone Belt and Tilly granitoid.

Loyal Lithium is well-capitalized for its upcoming endeavors, with a cash balance of $9.6 million. The Company is now gearing up for its drilling program this Canadian winter, aiming to further explore and develop the Trieste Lithium Project. This project is strategically located along the prolific Trieste Greenstone Belt and is just 10km east of Winsome Resources’ (ASX:WR1) Adina-Jamar project, which boasts a JORC Inferred Mineral Resource Estimate of 59 Mt at 1.12% Li2O.

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

“The results from Dyke #01 drilling highlights the exceptional prospectivity of the Trieste Lithium Project and gives us great confidence as we move forward with our winter drilling program which will test additional spodumene-bearing dykes.

“The ‘big picture’ at Trieste truly excites the team. The six identified spodumene-bearing dykes exhibit distinct east-west trends within a spodumene-rich metasediment host zone. This zone, densely vegetated, covers approximately 20 km², and provides high potential for dyke extensions and the discovery of additional concealed dykes."We are looking forward to continuing to exploring Trieste in 2024, starting with our upcoming drilling program, for which preparations are already well advanced.”

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. The Company continues to systematic explore its projects, resulting in a major new spodumene rich pegmatite dyke discovery at the Trieste Lithium Project. The Company aims to delineate JORC compliant resources, with mining and processing studies, creating outstanding value for its shareholders.

Contact details:

Jane Morgan


More from this category

  • Business Company News, Oil Mining Resources
  • 15/07/2024
  • 13:31
Jane Morgan Management

Galan Lithium Limited (ASX:GLN) Announces At-the-Market Raise

Perth, Australia – 15 July 2024 |Galan Lithium Limited (ASX: GLN)is pleased to announce that it has successfully raised $1,100,000 through its At-the-Market Subscription Agreement ("ATM") with Acuity Capital. This funding will be directed towards the further development of its Hombre Muerto West lithium brine project in Argentina and for working capital purposes. Key Highlights: Successful Fundraising: Galan has utilised its ATM with Acuity Capital to raise $1,100,000 by issuing 7,050,000 fully paid ordinary shares at an issue price of $0.156 per share. Strategic Development Funding: The funds will support the ongoing development of the Hombre Muerto West lithium brine…

  • Contains:
  • Business Company News, Oil Mining Resources
  • 15/07/2024
  • 13:20
Jane Morgan Management

American Rare Earths Ltd (ASX:ARR) Commences 2024 Drilling Campaign at Cowboy State Mine Area

Sydney, Australia – 15 July 2024 | American Rare Earths Limited (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY)is pleased to announce the commencement of its 2024 drilling campaign at the Cowboy State Mine ("CSM") area. This strategic initiative aims to upgrade resource estimates and gather critical data for advancing mine planning and prefeasibility analysis. Key Highlights: Drilling Overview: The 2024 drilling campaign includes 23 planned holes—11 core holes and 12 reverse circulation ("RC") holes—totaling approximately 2,670 metres (8,760 feet). The core holes will drill around 1,590 metres (5,217 feet), while the RC holes will cover about 1,080 metres (3,543…

  • Contains:
  • Business Company News, Oil Mining Resources
  • 15/07/2024
  • 13:03
Jane Morgan Management

Arizona Lithium Limited (ASX:AZL) Discovers New Lithium Enriched Formation at Prairie Project

Perth, Australia – 15 July 2024 | Arizona Lithium Limited (ASX: AZL, AZLO, AZLOA | OTC: AZLAF), a company focused on the sustainable development of two large lithium projects in North America, is excited to announce a significant lithium discovery at its Prairie Lithium Project in Saskatchewan, Canada. This discovery is a testament to the Company’s strategic and diligent exploration efforts. Key Highlights: New Lithium Discovery: Lithium-enriched samples of 86 mg/L Li have been identified in the Souris River Formation at Pad #1 at the Prairie project. Souris River Formation: This formation lies directly below the Duperow Formation across the…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.