LU7 Lithium Inventory and Opportunities
Melbourne, Aug 23, 2023 AEST (ABN Newswire) - Lithium Universe Limited (
ASX:LU7) is pleased to advise the details of the significant Lithium and Rare Earths opportunities within Tier 1 mining jurisdictions of Canada and Australia.
The Company's Canadian based projects are the Apollo Lithium Project, the Adina South and Adina West Projects and the Margot Lake Project; all of which are considered highly prospective for lithium and are situated in close proximity to a number of impressive recent discoveries.
Apollo Lithium Project (80%)
The Apollo Lithium Project is approximately 29km south-east of Patriot Battery Metals Inc.'s nearby Corvette Property with resource of 109.2 Mt at 1.42% Li2O and 28km west of Winsome Resource Ltd's Adina Property.
The Apollo Lithium Project consists of 466 claims covering an area of approximately 240km2 in the Eeyou Istchee Baie-James Municipality (James Bay), in northwest Quebec. The Apollo tenements are larger in size than the Patriot Corvette project by 26 km2. Patriot's most successful drill result was a remarkable 156m at 2.12% Li2O at CV5. Similarly, 28 km to the east, Winsome Resources Limited announced a high-grade mineralised intersection of 107m at 1.34% Li2O from 2.3 meters (AD-22-005) at their Adina Project.
Apollo has 17 pegmatite outcrops reported on the tenement package. Given the exceptional results from these neighbouring projects in addition to a similar geological host, the Apollo Lithium Project has the potential to be equally successful.
The initial focus of the Company will be the exploration of the Apollo Lithium Project. An accelerated exploration program will commence with the systematic mapping, geochemical soil sampling and geophysical surveys of 17 pegmatite outcrops and the NE-SW trending topographic highs previously identified by the Quebec government. Concurrently, an airborne geophysical and remote survey will be conducted to concentrate field works and provide high-priority drill targets for the maiden drilling campaign.
Adina South & Adina West Lithium Project (80%)
The Adina South and Adina West Projects (together, the "Adina Projects") consist of 89 claims covering an area of approximately 45km2 in the James Bay district approximately 350km to the east of Radisson, in the northwest of Quebec. The Company's project is situated in close proximity to Winsome Resources' Adina Project, hosting the Adina and Jamar Prospects. Recently, Winsome Resources reported successful drilling results, with AD-22-005 yielding 107m at 1.34% Li2O from 2.3m at their Adina Project. Aerial satellite images have revealed similar pegmatite occurrences at the surface. The regional magnetics show that the Cancet, Corvette, Adina and Apollo Lithium projects all sit within the greenstone belt of the La Grande sub-province.
The Company intends to conduct an exploration program at the Adina South and Adina West Projects focussed on preliminary field mapping and geochemical soil sampling focussed on pegmatitic granite occurrences to assist in drill program planning.
Margot Lake Lithium Project (80%)
The Margot Lake Project consists of 32 claims covering approximately 19.8 km2, located 170 km to the north of Red Lake, within the Red Lake Mining District in north-west Ontario. Notably, the highly competitive district where the project is situated is labelled "Electric Avenue" due to recent major discoveries by Frontier Lithium Inc., now with a market capitalisation of more than A$500M. The Margot Lake Project is situated 16km southeast of Frontier Lithium's PAK Deposit which contains 9.9Mt at 2.0% Li2O and 18km away from Frontier's Spark Deposit, which contains an indicated 18.8Mt at 1.52% Li2O and an inferred resource of 29.7Mt at 1.34% Li2O. The Company's Margot Lake Project contains nine confirmed pegmatites and displays similar regional geology to major resources within the immediate area.
The Company intends to conduct an exploration program at the Margot Lake Project focussed on preliminary field mapping and geochemical soil sampling focussed on pegmatitic granite occurrences to assist in drill program planning.
Lefroy Lithium Project (100%)
The Lefroy Lithium Project is located in the Eastern Goldfields of Western Australia that is home to some of the largest operating mines and exploration discoveries over the past 100 years. The Lefroy Lithium Project consists of approximately 42 km2 and is strategically located proximal to the Bald Hill Lithium Mine, which has a top-quality spodumene concentrate with low levels of mica and iron, as well as significant tantalum by-product production. The Bald Hill mine has a resource of 26.5Mt at 1.00% Li2O and a nameplate capacity of 1.2Mt per year. The Lefroy project is also located 60km from the Mt. Marion Lithium Mine, 71.3Mt at 1.37% Li2O, which is owned by Mineral Resources Ltd, with a market capitalisation of ~A$17B. Mt. Marion produces 900,000 tonnes of mixed-grade spodumene concentrate annually.
The Company intends on a systematic exploration program including surface mapping, geochemical soil sampling and geophysical surveys to identify drill targets.
Voyager Rare Earth Project (80%)
The Voyager Project consists of two exploration license applications, located in northern and eastern Tasmania respectively. ELA32/2022 covers an area of approximately 187km2 towards the southeast of Launceston which has become home to one the first Ionic Clay Rare Earth discovery in Tasmania. E40/2022 covers an area of approximately 198km2 approximately 30km inland from the town of Swansea on the east coast of Tasmania.
The discovery of ionic absorption clay-type (IAC) rare earth element (REE) mineralisation by ABx Group highlights the significant potential of hosting economic deposits in the region. ABx upgraded the mineral resource to 27Mt at 803ppm TREO.
The regional work done to date indicates an exciting potential for further discoveries of REE in Ionic Clays. The Voyager Project currently consists of exploration licence applications which remain subject to grant.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/F99K9RDI
About Lithium Universe Ltd
Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.
Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.
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