I'm not that worried about Adina being a dud considering they have so many other projects going on here.
every mining company out there has hit and miss luck when drilling for good results, they just move on to the next site. not every drill site is going to be golden. what matters is a company with many project prospects and good management and I think we have that now.
we have at least 6 other projects to move forward
its not like ardina was our only project and the company going to go bust.
BAY LAKE COBALT PROJECT, CANADA
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100% interest
Excellent road access and infrastructure
High-grade silver and cobalt jurisdiction.
Acquired in April 2017
Initial acquisition of 672ha less than 10km SSW of the Historic Silver Mining Camp of the Cobalt Township in Ontario, Canada
Proposed expansion of project through acquisition of 11 contiguous mineral claims to increase the Company’s landholding at Bay Lake four-fold to 2,744ha within a highly prospective Ag-Co rich geological domain
5km NNW of Equator Resources Limited’s (ASX: EQU) Cobalt Camp Project
Historical mine shafts have exposed cobalt rich cobaltite veins assaying 15.36%, 15.29%, 14.31% and 15.27% Co
Initial exploration plans include: A comprehensive ground mapping, mechanised trenching, sampling and drill target identification program – to commence during June 2017
An Airborne EM survey over the key project area – to commence during July and August 2017
An IP survey
Drilling program targeted for Q3-2017 following detailed first phase data analysis
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CANCET LITHIUM PROJECT, CANADA
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Independent JORC Exploration Target# of 15-25Mt @ 1-2% Li2O + 100-250ppm Ta2O5
Shallow high grade mineralisation close to road and electricity infrastructure
Resource definition drilling in Q1 2018
Initial metallurgical testing demonstrates battery grade spodumene concentrate could be produced from 10mm crush indicating simple low cost DMS gravity separation
Access
Located approximately 185 km east of La Grande and bisected by the Trans Taiga Highway with high voltage power near the project
Mineralisation
9,584ha prospective for high-grade lithium hosted in spodumene-bearing pegmatites
Recent exploration program designed to locate and resample pegmatite outcrop historically reported to contain blue/green spodumene and elevated levels of lithium
Rock chip sampling in 2016 yielded samples of 1.71% Li2O, 1.85% Li2O, 1.94% Li2O and 3.79% Li2O
Spodumene crystals ranged between 15cm to 60cm in size
Channel sampling program in 2016/2017 defined outcropping spodumene-bearing pegmatite open across width and along strike CH16-01 was 12.8m in length including intervals of 1.71%, 2.35%, 3.08% and 4.95% Li2O
CH16-02 was 10.6m in length including intervals of 1.19%, 2.11% and 2.50% Li2O
CH16-03 was 4.1m in length including intervals of 1.22%, 2.54%, 3.55% and 5.58% Li2O
Elevated Ta2O5 across most of the identified mineralisation
Average Li2O across all channels (1.47%) measured higher than the major lithium deposits in Quebec.
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TERRE DES MONTAGNES LITHIUM PROJECT, CANADA
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Deal to acquire up to 100% interest
Excellent road access and infrastructure
Dominant landholding in James Bay area, targeting spodumene-hosted lithium
Contiguous with Nemaska Lithium the 2nd richest and largest deposit in the world
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WELLS LACOURCIERE LITHIUM PROJECT, CANADA
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Up to 7% Li2O assays in sampling
Mineralisation
Contains a 200m2 excavation site containing high grade lithium from bulk samples of 2.87% to 4.0% Li20
Recent sampling identified an existing pegmatite with spodumene assaying over 7% Li2O at surface
Targeting spodumene-bearing, rare metal-bearing pegmatite dyke complexes
The host rocks are pegmatite dykes containing 15 to 30% spodumene as well as beryl
Three different types of pegmatite dykes have been identified based on mineralogy and textures
Spodumene content increases towards the centre of the dyke. The width of the zone varies from several cm up to 25m
The lithium mineralisation occurs mainly in medium to large spodumene crystals, up to 30cm in size and between 10cm and 15cm in diameter
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KAPIWAK LITHIUM PROJECT, CANADA
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Outcropping high grade lithium hosted in spodumene bearing pegmatites
2km strike length and open to the East and West (directional) and open at depth
Located less than 4 km south of the Cyr Lithium Deposit (also known as James Bay Lithium Deposit) owned by Galaxy Resources Limited
20km2 project with excellent road access and power infrastructure available and defined drill ready targets.
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SIRMAC-CLAPIER LITHIUM PROJECT, CANADA
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Outcropping high-grade lithium hosted in spodumene-bearing pegmatites
Located less than 3km from an existing high grade deposit grading 2.04% Li2O owned by Nemaska Lithium
Road and power infrastructure traverse the property with favourable location, close to major mining town and airport infrastructure
Spodumene crystals range in size from 1cm to 30cm in size with an average of 10cm
The amount of spodumene found in the pegmatite ranges from 5 to 30% volume
Extensive mapping of outcropping pegmatite dykes has been undertaken by previous explorers.
MTC Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
(20min delay)
