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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

jm@janemorganmanagement.com.au

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