James Bay, Quebec, Canada – Loyal Lithium Limited, an ASX listed resource exploration company, is pleased to report the successful completion of its winter drilling program at the Trieste Lithium Project, with multiple thick, high-grade lithium intercepts confirmed across several dykes. The project, part of the burgeoning Trieste Greenstone Belt, is rapidly advancing towards defining a significant lithium resource.
Key Highlights from Recent Drilling:
- Dyke #04: Notable intercepts include 32.8 meters at 1.2% Li2O starting from 27.6 meters depth, including a higher-grade section of 8.3 meters at 2.4% Li2O.
- Dyke #05: Impressive results feature 31.8 meters at 2.2% Li2O from just 2.9 meters depth, with a section of 10.2 meters yielding 3.0% Li2O.
Additional results from the drilling campaign have consistently shown significant lithium mineralization, highlighting the project's potential to host a substantial lithium deposit. These results underscore the project's development as a key player in the lithium market, crucial for the electric vehicle and energy storage industries.
Upcoming Exploration Initiatives: An innovative geophysical survey is scheduled for June 2024. This airborne survey aims to produce a detailed 3D geological model of the area, identifying new drilling targets both at the surface and subsurface. This initiative will further define the potential scale of the Trieste project and refine exploration efforts on the untested spodumene dykes.
Strategic Position and Collaboration: The Trieste Lithium Project benefits from its strategic location, connected to various significant lithium projects. Collaboration efforts, such as the recent MOU with Winsome Resources, highlight Loyal Lithium’s commitment to establishing the Trieste Greenstone Belt as a top-tier lithium production region. The company remains robustly funded, with $6.4 million in cash reserves, supporting its ambitious development and exploration plans.
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
