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Finance Investment, Oil Mining Resources

Loyal Lithium Limited (ASX:LLI) Announces Significant Progress at Trieste Lithium Project with Exceptional Drill Results

Loyal Lithium Limited (ASX:LLI) 2 mins read

Perth, Western Australia – April 24, 2024 – Loyal Lithium Limited (ASX: LLI), a well-structured listed resource exploration company, is thrilled to announce the latest high-grade drilling results from Dyke #04 at the Trieste Lithium Project, located in the promising James Bay, Quebec, Canada.

The recently concluded winter drilling program has successfully identified multiple thick, high-grade lithium intercepts near the surface, with standout results including:

  • 32.8 meters of 1.2% Li2O at a depth of 27.6 meters, including a high-grade zone of 8.3 meters at 2.4% Li2O from Dyke #04.
  • 31.1 meters of 1.5% Li2O at a depth of 21.4 meters, including 5.0 meters at 3.1% Li2O, also from Dyke #04.

These results demonstrate the significant potential of the Trieste Lithium Project, which is strategically located along the Trieste Greenstone Belt and is in close proximity to other spodumene-bearing lithium projects, such as Winsome Resources' Adina-Jamar project.

Loyal Lithium's Managing Director, Mr. Adam Ritchie, expressed his enthusiasm about the developments, stating, "The exceptional drill results from the Trieste Project not only reaffirm our belief in the region's mineral potential but also highlight the effectiveness of our focused exploration strategy. The thick, high-grade intercepts have begun to reveal the true potential beneath Dyke #04."

In addition to the drilling successes, Loyal Lithium is planning an innovative airborne geophysical survey in June to generate detailed 3D models of the subsurface. This survey aims to further delineate the project’s scale and identify new drilling targets.

Financially robust, Loyal Lithium is well-prepared to continue its exploration efforts, with a strong cash position of $6.4 million. The company has also entered into a collaboration MOU with Winsome Resources, aiming to develop the Trieste Greenstone Belt into a premier lithium hub.

Loyal Lithium’s Managing Director, Mr. Adam Ritchie, commented: "The team, alongside Dahrouge Geological Consulting, have done an amazing job over the winter, relentlessly executing this low-cost focused drilling campaign at Trieste. The thick, shallow, and high-grade intercepts collected to date, including 31.8m at 2.2% Li2O from near surface, is starting to expose the true potential of what could lie below.”

“The unique metasedimentary host rock affords us the opportunity to now deploy a cuttingedge geophysical survey that will be cross checked against the drilling results to produce detailed 3D structural model to identify and confirm our next drilling targets.”

“With further exploration and early-stage development underway on the adjoining properties of Rio Tinto/Midland Exploration, Azimut/SEQUEM and Winsome Resources’ the Trieste Greenstone Belt is really starting to take shape as a globally significant lithium hub.”


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

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