Peppermint Grove, WA, June 4, 2024 – Loyal Lithium Limited (ASX: LLI), a well-structured listed resource exploration , is thrilled to announce the commencement of an innovative high-resolution geophysical survey at its Trieste Lithium Project located in James Bay, Quebec, Canada. This initiative, led by Expert Geophysics Limited, covers a significant 75km² area and explores depths beyond 600 meters using state-of-the-art technology.
The survey employs advanced sensors that leverage natural electromagnetic fields to distinguish between different rock types, such as pegmatitic and metamorphic, which were previously indistinguishable with older technologies. This method is expected to delineate conductive and contrasting structural features within the 20km² Metasediment Fault Flow Zone, where six prominent spodumene-bearing pegmatite outcrops have been identified.
Key Survey Highlights:
- Innovative Technology: Utilizing groundbreaking sensors for deep, comprehensive analysis.
- Detailed 3D Modeling: Creation of a detailed three-dimensional model to identify precise drilling targets, enhancing recent successful drilling outcomes.
- Strategic Location: Positioned within the Trieste Greenstone Belt, neighboring significant lithium projects by industry leaders like Rio Tinto and Winsome Resources.
- Funding and Support: Bolstered by a recent $3.3 million funding increase, adding to the existing $5.0 million, enabling expansive survey operations and further development.
Loyal Lithium’s Managing Director, Mr. Adam Ritchie, commented:
“Launching this innovative geophysical survey at the onset of the Canadian summer field season is a testament to our commitment to advancing the Trieste Lithium Project. Our unique metasediment host rock environment and the cutting-edge suite of technologies employed have the potential to fast-track our exploration efforts and significantly reduce costs.”
"The Trieste Greenstone Belt is on the brink of transformation, with the recent upgrade of Winsome Resources’ Mineral Resource Estimate to 78Mt at 1.15% Li2O and exploration results pending from Azimut Exploration and Rio Tinto. When considered with Patriot Battery Metals Corvette Lithium Project, with 109Mt at 1.42% Li2O, this Northeastern region of James Bay, Quebec is shaping up to be 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
