Balkan (ASX:BMM) builds its prospects at Tango
November 8, 2022Balkan Mining and Minerals has identified a new pegmatite dyke field bearing lithium-associated minerals during fieldwork in the promising eastern portion of the Tango Lithium Project in the Georgia Lake Area, Thunder Bay North Mining District of Ontario, Canada.
One hundred outcrops as large as 10 square meters led to the discovery of three new high-priority pegmatite dykes.
White colour outcrops likely to contain albite, typically an accessory mineral to lithium mineralisation, were mapped as one of two types of pegmatites classified using K-feldspar content and colour.
Geology map of the wider project area showing observation and sampling locations
Pink-coloured pegmatite was also observed, indicating enriched in potassium feldspars typically composed predominantly of orthoclase, quartz, tourmaline, and minor amounts of muscovite.
In total, 15 surface grab samples were collected and sent for analysis from various locations to confirm the presence of lithium-bearing minerals using multi-element analysis.
The Company said its portfolio continues to advance positively, with an airborne magnetic survey commencing across the property.
“We are pleased to confirm these new pegmatite dykes at Tango and demonstrate how effectively our team can work the prospective area,” Managing Director Ross Cotton said.
“We expect ALS’s assay results to be returned in mid-November.”
Price Action
The Company’s ASX-listed shares are 28c at Market Open.
About The Tango Project
The Tango Lithium Project comprises 41 claim units (864ha) covering known pegmatite occurrences within the highly prospective Georgia Lake pegmatite field. The Georgia Lake pegmatite field includes Alix Resources’ Jackpot pegmatite, located ~1km to the southwest and Rock Tech Lithium’s Newkirk pegmatite, which lies 3 km to the west of the Project. The Project is located along the southern shore of Georgia Lake, approximately 31km southwest of the Company’s Gorge Project, 143km northeast of Thunder Bay, 33km south of Beardmore, and 20km southeast of Macdiarmid. The property is accessible by following Highway #11 north of Nipigon, turning east onto Gorge Creek Road and then following dirt roads to the property.
The Port of Thunder Bay is a significant facility that ships several commodities and general cargo via the Great Lakes.
Please note the following valuable information before using this website.
Independent Research
Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.
