MLS really could be sitting on a Company making Lithium asset in Canada. Just need to get the drilling underway to see how prospective their ground really is.
Only 20km's from PMT's monster CV5 Pegmatite discovery.
PMT already has discover over 20km's of high grade Lithium bearing pegmatite at it's Corvette tenement that surrounds MLS. The Felice tenement looks to be only roughly 15 km's east of the their discovery as indicated on the map above.
Nice shot of the winter landscape that PMT is drilling into and indicates the direction of the massive high grade Lithium pegmatite that PMT is uncovering. Heading east directly towards MLS tenements.
PMT targeting another 20km's of drilling between January and April, so plenty of news coming until MLS get their field work completed and hopefully drilling permits fast tracked in the coming months, leading into the peak Canadian Summer season!
"Metals Australia Ltd (“MLS” or “the Company”) is pleased to announce that it has identified outstanding lithium potential on its Canadian tenements located in the James Bay area of Quebec, Canada. Of particular interest are two properties, East Pontois and Felice, which are surrounded by the Corvette Lithium Project owned by Patriot Battery Metals Inc. (“Patriot”) and sit on the CV Lithium Trend (see Figure 1). Patriot has announced results from Corvette including up to 159.7m @ 1.65% Li2O and 193ppm Ta2O51 from below outcropping pegmatite within what appears to be a world-class lithium corridor.Metals Australia will immediately commence remote-sensing data interpretation to identify and map lithium bearing pegmatites within its highly-prospective East Pontois and Felice properties, to be followed by field investigation, mapping and sampling to verify the outstanding lithium potential identified." ASX release 15/12/22.
The way PMT is extending it's pegmatite discovery it could eventually extend all the way to the MLS Felice tenement boundary!
With $16.5Million cash in the bank, the Company is well funded to move a drilling campaign forward once all permits are secured in coming months!
MC only $31.5 Million currently compared to PMT at $430 Million...
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