Brascan acquires Quebec-Li properties in the James Bay Region of Northern Quebec (Cree First Nation Eeyou Istchee James Bay)
VANCOUVER, British Columbia, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Brascan Gold Inc. (CSE: BRAS) (“Brascan” or the “Company”) and is
pleased to announce acquisition of 3,020 hectares of new claims prospective for lithium in the James Bay (Cree First Nation Eeyou Istchee James Bay) region of northern Quebec. Brascan purchased a
100% interest in the Quebec-Li properties with no back-in rights or royalties.
The claims are located approximately 130 km east of Patriot Battery Metals’ Corvette Lithium Property, and 20 to 40 kms northeast of Winsome Resources’ Adina spodumene (lithium) pegmatite.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f32816d5-f530-4da9 ...
Patriot Battery Metals is exploring intensely a more than 20 km trend of lithium bearing spodumene pegmatites on their Corvette Lithium Property, including a recently reported drill intersection of 3.34% Li2O over 52.2 m, including an enriched zone of 5.2% Li2O over 15.0 m, as reported in their news release of January 29, 2023 (see patriotbatterymetals.com for further details). Winsome Resources’ Adina Project covers a spodumene pegmatite exposed intermittently along a 2 km long topographic high, drill results which announced discovery hole AD-22-005 at its Adina project with mineralization grading 1.34% Li2O over 107.6 metres (see Winsome press release dated January 6, 2023).
In addition to the discoveries at Patriot Battery Metals’ Corvette Property and Winsome’s Adina Lithium (spodumene pegmatite) Property, the James Bay region of Quebec hosts existing lithium deposits:
- James Bay lithium – proven and probable reserve of 37.2 million tonnes (Mt) at 1.3% Li2O (Alkem press release dated December 21, 2021).
- Rose deposit – probable reserve of 26.3 Mt at 0.87% Li2O and 138 parts per million (ppm) tantalum (Ta); Critical Elements Lithium Corp, press release dated June 13, 2022.
- Whabouchi deposit – proven and probable reserve of 27.9 Mt at 1.33% Li2O; Nemaska Lithium Inc. National instrument 43-101 technical report dated May 31, 2019.
- Moblan deposit – proven probable reserve of 10.7 Mt at 1.40 percent Li2O (Sayona Mining Ltd. press release dated August 24, 2019)
The claims cover Archean to Neoarchean metamorphic rocks derived from sediments and volcanics, as well as mapped granitic pegmatite. The metamorphic terranes were intruded by granitoid plutons, which may be the source of late stage fluids carrying lithium, tantalum, beryl and other elements of interest that are incompatible with the crystalizing plutons, but can form pegmatites in the intruded metamorphic rocks.
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