James Bay, Quebec – Loyal Lithium Limited (ASX:LLI), an ASX listed resource exploration company, is excited to share groundbreaking results from its recent drilling activities at the Trieste Lithium Project located in James Bay, Quebec, Canada. The company has reported the discovery of world-class lithium and tantalum grades within multiple drill intercepts in Dyke #05, a significant milestone that underscores the project's potential and positions it alongside leading global lithium ventures.
The assays from Dyke #05 have unveiled exceptional grades of lithium and tantalum from near the surface, with results that are on par with the high standards set by notable projects in the region, such as the Corvette Lithium Project by Patriot Battery Metals. The spodumene-rich pegmatite of Dyke #05 has revealed a thick zone of mineralization that remains open, showcasing notable intercepts including:
- 31.8m of 2.2% Li2O and 499ppm Ta2O5 from 2.9m – TR24-010, including 10.2m at 3.0% Li2O and 929ppm Ta2O5
- 28.1m of 2.1% Li2O and 66ppm Ta2O5 from 1.9m – TR24-002, including 7.2m at 3.0% Li2O and 71ppm Ta2O5
- 28.6m of 1.7% Li2O and 1,050ppm Ta2O5 from 6.5m – TR24-008, including 5.9m at 2.7% Li2O and 4,432ppm Ta2O5
- 23.8m of 1.7% Li2O and 732ppm Ta2O5 from 15.2m – TR24-007, including 18.4m at 2.2% Li2O and 911ppm Ta2O5
- 22.6m of 1.4% Li2O and 70ppm Ta2O5 from 7.0m – TR24-001, including 10.0m at 2.2% Li2O and 133ppm Ta2O5
This development is further enhanced by the identification of fertile geochemistry and anomalous magnetic lows within the Greenstone and Metasediment fault flow zone, indicating a high potential for new discoveries and the scalability of the project. Located strategically within the James Bay lithium district, the Trieste Lithium Project is well-positioned among other significant lithium projects, bolstering its potential for development and production.
With a strong cash position of $6.4 million and the conclusion of drilling activities on Dyke #04, Loyal Lithium is poised for further exploration and development activities in the upcoming 2024 Canadian summer. The company aims to continue its exploration momentum, unlocking the full potential of the Trieste Lithium Project.
Loyal Lithium’s Managing Director, Mr. Adam Ritchie, expressed his enthusiasm about the recent findings, stating, "We are thrilled to announce these exceptional results from our drilling campaign at the Trieste Lithium Project in James Bay. Our team, alongside our geological partner, Dahrouge Geological Consulting, have been relentlessly advancing this unique and promising lithium project throughout the Canadian winter, facilitating a swift, low-cost focused drill campaign.”
He further added, “These outstanding high-grade lithium and tantalum results are truly world class and solidify the Trieste Lithium Project as a standout among the pre-resource lithium plays in Quebec. As we continue to expand our geological interpretation efforts and streamline our operations, we are excited about the immense potential that lies ahead. With additional assay results from Dyke #04 anticipated in early Q2, we are well-positioned to further unlock the potential of the Trieste Lithium Project."
Loyal Lithium is committed to advancing the Trieste Lithium Project, leveraging its strategic location, significant mineralisation, and the expertise of its team to establish itself as a leader in the lithium industry.
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
