by Greg Klein | September 6, 2016
Having acquired the Li lithium project in July, Equitorial Exploration TSXV:EXX announced results from the 2016 field program on September 6. Located just east of the Yukon border and 30 kilometres from the Northwest Territories’ former Cantung tungsten mine, the property hosts the Little Nahanni pegmatite group.
“Lithium-cesium-tantalum pegmatite dyke swarms on the Li property have been traced over a combined length of 13 kilometres in mountainous terrain that is deeply incised by several east- or west-facing cirques,” the company stated. The following highlights came from 81 channel samples up to 52.6 metres wide from dyke swarms called Prison Wall, Berlin Wall and Great Wall of China:
- 1.57% Li2O, 250.3 g/t Ta2O5 and 0.95% SnO2 over 1.7 metres
- 2.33% Li2O, 59 g/t Ta2O5 and 0.05% SnO2 over 1.2 metres
- 2.04% Li2O, 57.8 g/t Ta2O5 and 0.5% SnO2 over 4 metres
- 3.1% Li2O, 53.6 g/t Ta2O5 and 0.03% SnO2 over 0.95 metres
Great Wall of China
- 1.67% Li2O, 41.4 g/t Ta2O5 and 0.03% SnO2 over 3.75 metres
- 1.83% Li2O, 67.3 g/t Ta2O5 and 0.05% SnO2 over 1.25 metres
- 1.63% Li2O, 52.9 g/t Ta2O5 and 0.01% SnO2 over 5.15 metres
The dykes are “well exposed on cirque walls, but most of these areas are too steep to sample,” Equitorial added. “Fortunately, relatively continuous bedrock exposures are accessible at the base of cliffs on the north and south side of cirques.”
Dating back to 2002, the property’s best interval assayed 1.59% Li2O over 10 metres, but the 2016 program failed to relocate the dyke. Two drill holes from 2007 found 1.2% Li2O over 10.94 metres and 0.92% over 18.27 metres. Rock samples have graded as high as 3.77%, 3.55%, 2.05%, 1.79%, 1.77% and 1.74% Li2O.
The Li property acquisition costs Equitorial 7.5 million shares, 2.5 million warrants, $100,000 towards the 2016 program and a 2% NSR.
In May Equitorial acquired the right to enter a JV with Mag One Products CSE:MDD to fund the construction of Mag One’s extraction facility for lithium and related products. Equitorial also holds the right to JV with Mag One on construction of production facilities for magnesium metal and products.