- Equinox Resources (EQN) kicks off its search for “rare metal LCT pegmatites” in Ontario, Canada
- The company has set up digs at two projects covering 332 square kilometres
- Equinox will kick off aeromagnetic geophysical surveys to find pegmatite targets
- The acreage contains the Case Batholith where Geology Ontario first logged the presence of spodumene pegmatites in the mid-to-late 20th Century
- Equinox Resources shares are down 6.45 per cent, trading at 14.5 cents at 3:59 pm AEST
Equinox Resources (EQN) has kicked off its search for lithium in Canada at its Dome Lake and Larder Lake projects, as the WA iron ore player expands its international footprint.
The company has set up digs at two projects, one called Dome Lake and the other Larder Lake. Together, the projects cover 332 square kilometres.
Equinox will kick off aeromagnetic geophysical surveys to begin the process of finding lithium targets prospective for a range of metals including lithium – however, this remains to be confirmed.
According to the company, existing datasets conducted by local contractors have already afforded Equinox geotechs with multiple areas of interest, suggesting these next-step aeromagnetic surveys will be targeted in approach.
Helicopters will be used to conduct Lidar surveys and the program is expected to be wrapped up in this quarter, taking roughly a month.
Another company, Terraquest, will use small aircraft to also scan the project acreage to allow Equinox to build up the best portfolio of exploration targets possible. The completion deadline remains unchanged.
“We are delighted to be able to fast track our maiden exploration program in Canada with the aim to create long-term value for our loyal shareholders,” EQN CEO Gower He said.
“Once finalised, the funding from the Ontario Junior Exploration Program (OJEP) grant would be fully utilised on these projects. I look forward to providing further updates as our work programs advance.”
Contained within the boundaries of the tenements is a geological formation known as the Case Batholith where Geology Ontario first logged the presence of pegmatites in 1962, and again in 1991.
The feature is officially classified as a prospect with primary commodities being rubidium, lithium, tantalum, and other metals including high-value rare earth element (REE) niobium.
Equinox Resources shares were down 6.45 per cent, trading at 14.5 cents at 3:59 pm AEST.