Wednesday 17th January 2018

Resource Clips


Posts tagged ‘tantalum’

Lithium-tantalum sampling, new pegmatite discovery position 92 Resources for NWT drill program

January 12th, 2018

by Greg Klein | January 12, 2018

From pilot plant to the field, 92 Resources TSXV:NTY heralded progress on a number of fronts this week. Two days after reporting metallurgical advances for its Hidden Lake lithium project, the company announced high-grade lithium assays, significant tantalum recoveries and the discovery of a seventh pegmatite. The latest news comes from a recently completed eight-day program on the highway-accessible property 40 kilometres east of Yellowknife.

Lithium-tantalum sampling, new pegmatite discovery position 92 Resources for NWT drill program

Last year’s field work added another known pegmatite, as well as
tantalum potential, to 92 Resources’ Hidden Lake lithium project.

Work included channel sampling on two pegmatites discovered in late 2016, HL6 and HL8, near four other known pegmatites on the property. Eight samples from HL6 surpassed 1% Li2O, with values ranging from 1.05% to 2.57%, the latter standing out as the highest 2017 sample grade. Widths extended from 0.75 metres to one metre.

HL8 compensated for lower lithium numbers with some intriguing tantalum results. Of eight samples reported, Li2O values ranged from 0.12% to 0.74%, with Ta2O5 ranging from 114 ppm to 233 ppm. Seven widths came in between 0.74 and 1.33 metres, while a grade of 162 ppm Ta2O5 extended across 5.1 metres.

“Spodumene-bearing pegmatites are often zoned with distinct zones of lithium and tantalum, as well as zones which overlap,” the company explained. “The discovery of tantalum zones in the area is encouraging and bolsters the project’s potential for tantalum, as well as for coupled zones of lithium and tantalum, to be discovered elsewhere on the property.”

Another encouraging sign is a newly discovered pegmatite, bringing Hidden Lake’s known total to seven. An initial sample from HL13 returned 0.48% Li2O.

92 Resources hopes to return early this year, this time with a rig, to begin building a maiden resource.

Earlier this week the company announced another stage of metallurgical studies suggesting Hidden Lake’s pegmatite can produce high-grade concentrate through conventional processing techniques.

Additionally the company holds three lithium properties in Quebec, where sampling from one project brought assays up to 7.32% Li2O and 90 ppm Ta2O5. 92 Resources also plans a 43-101 technical report for its Golden frac sand project in eastern British Columbia.

92 Resources closed a private placement of $1.14 million the previous week and will further fund Hidden Lake with a $140,000 grant from the NWT Mining Incentive Program.

Read Isabel Belger’s interview with 92 Resources CEO Adrian Lamoureux.

Critical Quebec commodities

January 11th, 2018

Saville Resources moves into Commerce Resources’ niobium-tantalum target

by Greg Klein

A rare metal find on a property hosting a rare earths deposit becomes a project of its own under a new agreement between two companies. With a 75% earn-in, Saville Resources TSXV:SRE can now explore the niobium claims on Commerce Resources’ (TSXV:CCE) Eldor property in northern Quebec, where the latter company advances its Ashram rare earths deposit towards pre-feasibility.

Saville Resources moves into Commerce Resources’ niobium-tantalum target

A map illustrates the mineralized boulder
train’s progress, showing its presumed source.

Grab samples collected by Commerce on a boulder train about a kilometre from the deposit brought assays up to 5.9% Nb2O5. “That’s right off the charts,” enthuses Saville president Mike Hodge. “People in the niobium space hope for 1%—5.9% is excellent.”

He’s no newcomer to the space or even to the property. Hodge helped stake Commerce’s tantalum-niobium deposit on southern British Columbia’s Blue River property, which reached PEA in 2011.

“I did a lot of the groundwork for Commerce in the Valemount-Blue River area and I was one of the first guys on the ground at the camp that now supports Ashram,” he points out. “I’ve been involved with these two properties since 1999.” That’s part of a career including field experience on over 25 projects as well as raising money for junior explorers.

Miranna’s grab samples brought tantalum too, with a significant 1,220 ppm Ta2O5. Forty of the 65 samples graded over 0.5% Nb2O5, with 16 of them surpassing 1%.

The company describes the sampling area as a “strongly mineralized boulder train with a distinct geophysical anomaly at its apex.”

The 980-hectare Eldor Niobium claims have also undergone drilling on the Northwest and Southeast zones, where some wide intervals gave up 0.46% Nb2O5 over 46.88 metres and 0.55% over 26.1 metres (including 0.78% over 10.64 metres).

Samples from Miranna and the Southeast zone also show that niobium-tantalum occurs within pyrochlore, described by Saville as the dominant source mineral for niobium and tantalum in global mining. That’s the case, for example, at Quebec’s Niobec mine, one of the world’s three main niobium producers, with 8% to 10% of global production. Moreover, pyrochlore on the Saville project “is commonly visible to the naked eye, thus indicating a relatively course grain size, which is a favourable attribute for metallurgical recovery,” the company added.

Hodge already has a prospective drill target in mind. “I pulled the rig around with a Cat for a lot of the holes on Ashram itself so I’m very familiar with the ground. We’d of course do more prospecting and try to prove up some more numbers while we’re drilling.”

Saville Resources moves into Commerce Resources’ niobium-tantalum target

Should Saville find success, a ready market would be waiting. The company cites niobium demand growth forecasts of 7.66% CAGR from 2017 to 2021. A December U.S. Geological Survey report lists niobium and tantalum among 23 minerals critical to American security and well-being.

The country relies on foreign exports for its entire supply of both minerals, according to an earlier USGS study. From 2012 to 2015, 80% of America’s total niobium imports came from Brazil, where one mine alone produces 85% to 90% of global supply. Looking at tantalum imports during that period, the U.S. relied on China for 37% and Kazakhstan for another 25%. A troubling source of tantalum remains the Democratic Republic of Congo, from where conflict minerals reach Western markets through murky supply chains.

Days after the USGS released its December study, American president Donald Trump ordered a federal strategy “to ensure secure and reliable supplies of critical minerals.” Although he emphasized the need for domestic deposits and supply chains, Trump also called for “options for accessing and developing critical minerals through investment and trade with our allies and partners.”

Meanwhile Saville also sees potential in Covette, the company’s other northern Quebec property. Historic, non-43-101 grab samples reported up to 4.7% molybdenum, with some bismuth, lead, silver and copper. A 1,402-line-kilometre VTEM survey in late 2016 found prospectivity for base and precious metals. “The VTEM and some sampling that we did indicates that drilling could find something valuable,” Hodge says. “Although it is early-stage, the Geotech guys that did the VTEM survey said they hadn’t seen targets like that all year.”

Still, “the niobium claims are my first priority,” Hodge emphasizes. “I’m very excited about this. I believe we can have a winning project here.”

Subject to approvals, a 75% interest in the new property would call for $25,000 on signing, another $225,000 on closing and $5 million in work over five years. Commerce retains a 1% or 2% NSR, depending on the claim, with Saville holding a buyback option.

Last month the company offered private placements totalling up to $500,000, with insiders intending to participate.

Read more about the U.S. critical minerals strategy.

Lithium metallurgy produces high-grade concentrate for 92 Resources’ NWT project

January 10th, 2018

by Greg Klein | January 10, 2018

Showing the advantages of coarse-grained pegmatite, further metallurgical tests on hardrock lithium brought impressive results for 92 Resources’ TSXV:NTY Hidden Lake project in the Northwest Territories. The company processed about 400 kilograms of pegmatite collected last year, putting it through a dense media separation mini-pilot plant. The result brought over 40 kilos of spodumene concentrate averaging a high-grade 6.11% Li2O.

Following last month’s results from heavy liquid separation tests, 92 Resources considers the latest work both highly encouraging and in line with expectations. “The test work continues to support that a final overall concentrate grade of 6% to 6.5% Li2O at high recovery (80% to 85%) is achievable using low-cost and conventional processing techniques,” the company stated.

92 Resources now sees two possible approaches for lithium recovery. The first would use flotation only, which produced the successful results released in December. The second would aim for similar results through a combination of flotation and dense media separation. The dual approach offers lower costs, greater control, shorter start-up time and less risk.

Lithium metallurgy produces high-grade 6.11% concentrate for 92 Resources’ NWT project

This graphic illustrates the Hidden Lake flowsheet’s dual approach, in which +0.85 mm material undergoes dense media separation to produce concentrate, tailings and middlings. The middlings then combine with the -0.85 mm material to undergo flotation, producing more concentrate and tailings.

Still to come from the test work are tantalum assays, which will be studied for better recovery. The road-accessible 1,849-hectare property sits 40 kilometres east of Yellowknife.

Apart from the Hidden Lake flagship, 92 Resources picked up three hardrock lithium projects in Quebec’s James Bay region last September. Surface samples from the Corvette property showed results up to 7.32% Li2O, along with anomalous tantalum of 90 ppm Ta2O5.

The company also has a 43-101 technical report planned for its Golden frac sand project in eastern British Columbia.

Last week 92 Resources closed a private placement of $1.14 million.

Read Isabel Belger’s interview with 92 Resources CEO Adrian Lamoureux.

America’s long-overdue critical minerals strategy heralds wide-ranging advantages, says Jeff Green

December 22nd, 2017

by Greg Klein | December 22, 2017

A long-time advocate of national self-reliance on critical minerals, the Washington defence lobbyist and former USAF commander calls it the United States’ “most substantive development in critical mineral policy in 20 years.” As President Donald Trump ordered a national strategy to reduce the country’s dependence on unfriendly or unstable sources of crucial commodities, Jeff Green responded: “I don’t think you can overstate the importance of the executive order because the U.S. government has fundamentally shifted its minerals policy, which impacts natural resource policy, national security and the economy.” Speaking with ResourceClips.com, he outlined five major outcomes that he foresees.

America’s critical minerals strategy was long overdue and will show wide-ranging effects, says Jeff Green

“One, I think you will see regulatory streamlining in the very near future and I think that’s really important for permitting and opening mines in the United States.”

Just six days before Trump’s announcement, Green published an op-ed arguing that unwieldly permitting procedures affected national security.

“Two, with the fundamental shift in policy and the easing of regulatory burdens, I hope to see companies get increased access to capital markets and private sector investment,” he added.

“Three, this is a formalization of the nexus between national security and critical minerals, and that is something that the last administration refused to do. When you look at the rare earths crisis, the prior administration said there was no problem. This administration has said that critical minerals are fundamental to national security, and that’s very important.

“Four, I think this will lead to investment by the Department of Defense in critical minerals, largely because they have the funding to do this and they can best pinpoint where those areas of investment need to be.

“Five, I think you’ll potentially see the U.S. bring additional anti-dumping actions, particularly against the Chinese, for dumping minerals into our market below value.”

I do think that the direct actions from the executive order will largely benefit U.S. companies. But I also see efforts to collaborate on access to materials with companies that can provide it.—Jeff Green

Of course the U.S. national strategy primarily affects the U.S. “President Trump has said ‘America first,’ and to our friends in Canada that might be a little disappointing,” Green pointed out. “But he has also said that international co-operation and partnerships with our strongest allies will be really important. I do think that the direct actions from the executive order will largely benefit U.S. companies. But I also see efforts to collaborate on access to materials with companies that can provide it. I think pragmatically the administration is going to say, ‘If you’ve got a tantalum project in Canada that’s more advanced than anything we have in the U.S., we ought to work with you to bring that supply to market, rather than continue to rely on some other countries.”

Meanwhile the proposed Metals Act, a bill calling for U.S. government support to develop domestic resources and supply lines, has been languishing in multiple committees. But “many of the principles in the act worked their way into the executive order,” Green said.

“The president’s action marks the culmination of almost a decade of work by many of us who’ve been advocating for more access to critical minerals,” he added. “There’s been tremendous effort by people in the industry to get to this point and the hope is that regulatory streamlining and everything go quickly so we can see positive results.”

Pleased as he was, Green wasn’t surprised. “There was word here in Washington D.C. that this was coming, so it was a nice early Christmas gift.”

Read more about the U.S. federal strategy on critical minerals.

Critical attention

December 21st, 2017

The U.S. embarks on a national strategy of greater self-reliance for critical minerals

by Greg Klein

A geopolitical absurdity on par with some aspects of Dr. Strangelove and Catch 22 can’t be reduced simply through an executive order from the U.S. president. But an executive order from the U.S. president doesn’t hurt. On December 20 Donald Trump called for a “federal strategy to ensure secure and reliable supplies of critical minerals.” The move came one day after the U.S. Geological Survey released the first comprehensive update on the subject since 1973, taking a thorough look—nearly 900-pages thorough—at commodities vital to our neighbour’s, and ultimately the West’s, well-being.

U.S. president Trump calls for a national strategy to reduce foreign dependence on critical minerals

The U.S. 5th Security Forces Squadron takes part in a
September exercise at Minot Air Force Base, North Dakota.
(Photo: Senior Airman J.T. Armstrong/U.S. Air Force)

The study, Critical Mineral Resources of the United States, details 23 commodities deemed crucial due to their possibility of supply disruption with serious consequences. Many of them come primarily from China. Others originate in unstable countries or countries with a dangerous near-monopoly. For several minerals, the U.S. imports its entire supply.

They’re necessary for medicine, clean energy, transportation and electronics but maybe most worrisome, for national security. That last point prompted comments from U.S. Secretary of the Interior Ryan Zinke, whose jurisdiction includes the USGS. He formerly spent 23 years as a U.S. Navy SEAL officer.

“I commend the team of scientists at USGS for the extensive work put into the report, but the findings are shocking,” he stated. “The fact that previous administrations allowed the United States to become reliant on foreign nations, including our competitors and adversaries, for minerals that are so strategically important to our security and economy is deeply troubling. As both a former military commander and geologist, I know the very real national security risk of relying on foreign nations for what the military needs to keep our soldiers and our homeland safe.”

Trump acknowledged a number of domestic roadblocks to production “despite the presence of significant deposits of some of these minerals across the United States.” Among the challenges, he lists “a lack of comprehensive, machine-readable data concerning topographical, geological and geophysical surveys; permitting delays; and the potential for protracted litigation regarding permits that are issued.”

[Trump’s order also calls for] options for accessing and developing critical minerals through investment and trade with our allies and partners.

Trump ordered a national strategy to be outlined within six months. Topics will include recycling and reprocessing critical minerals, finding alternatives, making improved geoscientific data available to the private sector, providing greater land access to potential resources, streamlining reviews and, not to leave out America’s friends, “options for accessing and developing critical minerals through investment and trade with our allies and partners.”

Apart from economic benefits, such measures would “enhance the technological superiority and readiness of our armed forces, which are among the nation’s most significant consumers of critical minerals.”

In fact the USGS report finds several significant uses for most of the periodic table’s 92 naturally occurring elements. A single computer chip requires well over half of the table. Industrialization, technological progress and rising standards of living have helped bring about an all-time high in minerals demand that’s expected to keep increasing, according to the study.

“For instance, in the 1970s rare earth elements had few uses outside of some specialty fields, and were produced mostly in the United States. Today, rare earth elements are integral to nearly all high-end electronics and are produced almost entirely in China.”

The USGS tracks 88 minerals regularly but also works with the country’s Defense Logistics Agency on a watch list of about 160 minerals crucial to national security. This week’s USGS study deems the critical 23 as follows:

  • antimony
  • barite
  • beryllium
  • cobalt
  • fluorite or fluorspar
  • gallium
  • germanium
  • graphite
  • hafnium
  • indium
  • lithium
  • manganese
  • niobium
  • platinum group elements
  • rare earth elements
  • rhenium
  • selenium
  • tantalum
  • tellurium
  • tin
  • titanium
  • vanadium
  • zirconium

A January 2017 USGS report listed 20 minerals for which the U.S. imports 100% of its supply. Several of the above critical minerals were included: fluorspar, gallium, graphite, indium, manganese, niobium, rare earths, tantalum and vanadium.

This comprehensive work follows related USGS reports released in April, including a breakdown of smartphone ingredients to illustrate the range of countries and often precarious supply chains that supply those materials. That report quoted Larry Meinert of the USGS saying, “With minerals being sourced from all over the world, the possibility of supply disruption is more critical than ever.”

As both a former military commander and geologist, I know the very real national security risk of relying on foreign nations for what the military needs to keep our soldiers and our homeland safe.—Ryan Zinke,
U.S. Secretary of the Interior

David S. Abraham has been a prominent advocate of a rare minerals strategy for Western countries. But in an e-mail to the Washington Post, the author of The Elements of Power: Gadgets, Guns, and the Struggle for a Sustainable Future in the Rare Metal Age warned that Trump’s action could trigger a partisan battle. He told the Post that Republicans tend to use the issue to loosen mining restrictions while Democrats focus on “building up human capacity to develop supply chains rather than the resources themselves.”

Excessive and redundant permitting procedures came under criticism in a Hill op-ed published a few days earlier. Jeff Green, a Washington D.C.-based defence lobbyist and advocate of increased American self-reliance for critical commodities, argued that streamlining would comprise “a positive first step toward strengthening our economy and our military for years to come.”

In a bill presented to U.S. Congress last March, Rep. Duncan Hunter proposed incentives for developing domestic resources and supply chains for critical minerals. His METALS Act (Materials Essential to American Leadership and Security) has been in committee since.

Speaking to ResourceClips.com at the time, Abraham doubted the success of Hunter’s bill, while Green spoke of “a totally different dynamic” in the current administration, showing willingness to “invest in America to protect our national security and grow our manufacturing base.”

Update: Read about Jeff Green’s response to the U.S. national strategy.

“Shocking” USGS report details 23 minerals critical to America’s economy and security

December 19th, 2017

This story has been expanded and moved here.

New research suggests further metallurgical advantages to Commerce Resources’ Quebec rare earths deposit

December 6th, 2017

by Greg Klein | December 6, 2017

An advanced rare earths project with relatively simple mineralogy could benefit from an even more efficient process of separating wheat from chaff. A paper presented at a Cape Town technical conference last month explains how Commerce Resources’ (TSXV:CCE) Ashram deposit could increase recovery to over 50% rare earth oxides through flotation alone. Previous tests on two flowsheets have already produced concentrates grading more than 45% REO as the northern Quebec project moves towards pre-feasibility.

New research suggests further metallurgical advantages to Commerce Resources’ Quebec rare earths deposit

An even simpler process could produce higher-grade
concentrate from Commerce Resources’ Ashram deposit.

Delivered to the Flotation ’17 conference, the paper titled Flotation of Rare Earth Minerals from Fluorite by pH-Shift was written by lead author Gerhard Merker of Merker Mineral Processing, with Ashram project manager Darren Smith and Henning Morgenroth of UVR-FIA. The study based its findings on work conducted for Ashram at UVR-FIA in Germany.

“The key to this success was the discovery of the significant role of pH in the separation of rare earth minerals from fluorite as well as various carbonates,” stated Commerce. “Without such a separation, a mineral concentrate at appreciable recovery could not exceed 20% REO using flotation alone. As such, a multi-stage flotation technique comprising milling and sizing, high solids conditioning and a controlled pH-shift, which is not conventionally applied to REE [material], was developed…. In terms of the Ashram deposit, the technique continues to hold significant promise as an alternative processing approach.”

Ashram remains one of the world’s few advanced projects capable of upgrading its whole rock to a high-grade concentrate similar to that of current REE producers, the company added. The carbonatite-based deposit features the minerals monazite, bastnasite and xenotime, all familiar to conventional processing. Ashram also hosts a strong distribution of the critical elements neodymium, europium, terbium, dysprosium and yttrium.

While Commerce wrapped up its summer-fall field program in October, an assay lab continues to work through core from a 14-hole, 2,014-metre drill program intended to increase and upgrade the project’s 2012 resource. In addition to Ashram’s field work, metallurgical studies and project planning, Commerce has been investigating early-stage niobium-tantalum-phosphate potential on the Miranna area about one kilometre away.

Looking at its advanced tantalum-niobium deposit in southern British Columbia, Commerce signed an MOU in July to test a one-tonne sample from its Blue River project for a proprietary method of processing.

Read more about Commerce Resources.

Quebec acquisition brings Saville Resources precious, base and rare metals prospectivity

November 27th, 2017

by Greg Klein | November 27, 2017

A flurry of updates shows a new project, new faces and new financing for a rejuvenated Saville Resources TSXV:SRE. The company now moves into Quebec’s James Bay region by taking on the 3,370-hectare Covette property. Although it’s seen limited exploration so far, Covette underwent a 1,402-line-kilometre VTEM survey late last year, along with prospecting and sampling this year. The coincidence of EM conductors with magnetic highs suggests prospectivity for base and precious metals, the company reported. This year’s field program included pegmatite sampling for evidence of lithium.

Quebec acquisition brings Saville Resources precious, base and rare metals prospectivity

Of two historic, non-43-101 grab samples, one returned 4.7% molybdenum, 0.73% bismuth, 0.09% lead and 6 g/t silver; while the other showed 1.2 g/t silver and 0.18% copper.

An underlying greenstone belt could offer base and precious metals potential as well as pegmatite-hosted lithium and tantalum. “Komatiites have also been described in the region, with such rock types known to host significant nickel-copper massive sulphide deposits at other localities globally,” the company stated.

Covette lies just 10 kilometres north of the all-weather Trans-Taiga road, which runs parallel to the LG-3 transmission line.

Pending TSXV approval, Saville gets the property by paying Zimtu Capital TSXV:ZC $350,000.

Additionally, Saville announced Michael Hodge’s appointment as president/CEO/director. Having started his career in 1999 on the staking program for Commerce Resources’ (TSXV:CCE) Blue River tantalum-niobium project in British Columbia, Hodge has field experience on over 25 exploration projects as well as success in raising capital for junior miners.

Jody Bellefleur joins Saville as CFO, bringing over 20 years’ experience as a corporate accountant for the sector.

Saville also announced a private placement of up to $270,000. The company closed an $857,300 placement in July. Among other updates, Saville settled $219,000 in debt by issuing shares and warrants that would represent 18.7% of the company’s outstanding shares.

Commerce Resources closes season on Quebec quest for rare earths and rare metals

October 11th, 2017

by Greg Klein | October 11, 2017

With this year’s field program now complete, Commerce Resources TSXV:CCE reports progress on a Quebec property hosting both advanced and early-stage projects. The bulk of the work brings the Eldor property’s Ashram rare earths deposit closer to pre-feasibility. About one kilometre east of Ashram, meanwhile, the company has Eldor’s Miranna target under scrutiny for its niobium-tantalum-phosphate potential.

Commerce Resources closes season on Quebec quest for rare earths and rare metals

Core from a 14-hole, 2,014-metre infill
campaign now makes its way to the lab.

Renewing anticipation of Ashram assay results, the team sent 1,256 core samples from last year’s drilling to the lab. The 14-hole, 2,014-metre program focused on definition drilling of the carbonatite-based deposit featuring the minerals monazite, bastnasite and xenotime, all familiar to conventional REE processing. The deposit also features a strong distribution of the critical elements neodymium, europium, terbium, dysprosium and yttrium.

Using a 1.25% cutoff, Ashram’s 2012 resource showed:

  • measured: 1.59 million tonnes averaging 1.77% total rare earth oxides

  • indicated: 27.67 million tonnes averaging 1.9% TREO

  • inferred: 219.8 million tonnes averaging 1.88% TREO

Nine composite core samples will be tested to determine rock geomechanical characteristics to aid design of the processing plant. “Initial comminution testing indicates that the Ashram material is relatively soft, which directly correlates to lower energy consumption during the crushing and grinding process, where often the bulk of a mining operation’s energy is consumed,” the company stated. Other work included downloading data from an on-site weather station, as well as from lake and downhole instruments.

As for early-stage work, the crew collected 36 samples that largely targeted the Miranna area. Observing significant niobium-tantalum mineralization on surface, the team identified overlapping mineralized boulder trains that appear to end in the same area, increasing Miranna’s potential, Commerce added. Samples taken last year graded as high as 5.9% niobium pentoxide, with impressive tantalum, phosphate and rare earths numbers as well.

In southern British Columbia the company also has tantalum-niobium at its Blue River deposit, which reached PEA in 2011. Commerce signed an MOU in July to test a one-tonne sample for a proprietary method of processing.

Another MOU would have Ucore Rare Metals TSXV:UCU test a selective separation process on Ashram material. Samples have already undergone favourable metallurgical tests at a Colorado facility.

Hoping to bring clean, cost-effective energy to northern Quebec, Commerce also has an MOU with TUGLIQ Energy to determine Eldor’s potential for wind-generated electricity.

Read more about Commerce Resources.

First visit yields surface grades up to 7.32% on 92 Resources’ new Quebec lithium property

October 5th, 2017

by Greg Klein | October 5, 2017

First visit yields surface grades up to 7.32% on 92 Resources’ new Quebec lithium property

A single day of due diligence on a new acquisition brought high lithium values for 92 Resources TSXV:NTY. Selected grab samples from the Corvette property in northern Quebec assayed 0.8%, 3.48% and 7.32% Li2O at surface from one pegmatite outcrop and 1.22% from another, which also showed an anomalous tantalum result of 90 ppm Ta2O5.

The 3,891-hectare property comprises one of three prospective lithium acquisitions in Quebec’s James Bay region announced last month.

The two spodumene-bearing pegmatites, about 75 metres apart and trending sub-parallel, “highlight the prospective nature of the property,” 92 Resources stated. With only a small part of the property explored so far, the company has more prospecting as well as channel sampling planned before winter sets in.

In September the company announced a two-week program of prospecting and channel sampling at its flagship Hidden Lake lithium project in the Northwest Territories. Follow-up metallurgical results released the same month on a concentrate produced from Hidden Lake material showed an overall extraction rate of 97%.

92 Resources also has a 43-101 technical report planned for its Golden frac sand project in eastern British Columbia.

Read Isabel Belger’s interview with 92 Resources CEO Adrian Lamoureux.