Balkan (ASX:BMM) channels hot Canadian rocks
December 16, 2022Balkan Mining and Minerals have confirmed remarkable lithium mineralisation as high as 3.75% Li20 at its Gorge Lithium project in Canada’s emerging Thunder Bay North Mining District of Ontario.
The high-grade channel sample assays taken from the Project’s Koshman and Nelson pegmatite showings include 2.1m @1.23% Li20, 2.7m @ 0.87% Li20, 1.5m at 1.30% Li20 topped off by the headline 3.75% Li20 grade over 1.8m.
Nelson pegmatite locations and channel samples
The completed programme sought to test lithium-bearing spodumene mineralisation identified in clusters of spodumene-bearing weathered pegmatite dykes throughout the property’s large, highly prospective area.
“The channel sampling assay results received at this early stage of exploration have confirmed the exceptionally strong presence of open lithium mineralisation at both the Koshman and Nelson sites,” Managing Director Ross Cotton said.
“The next phase of exploration will seek to extend channel sampling along strike which will assist with drill targeting.
“Subject to further assay results, the geological team will aim to define drill ready targets in preparation for testing in H1 2023.”
Koshman pegmatite locations and channel samples
Price Action
The Company’s ASX-listed shares are 31c at pre-Market Open.
About Gorge Lithium Project
The Gorge Lithium Project is located approximately 215 km northeast of Thunder Bay, Ontario, and about 60 km southwest of Geraldton, Ontario. The Project site is accessed via Trans Canada Hwy 11 with entry points along well-graded gravel logging roads starting 40 km north of Nipigon/Trans Canada Hwy 14/11 intersection (Gorge Creek Road) and Camp 51 Rd, approximately 33 km west of Geraldton.
Access to the Koshman and Nelson mineral occurrence sites was ideal along foot access (path) points 1.4 km and 0.3 km from the Gathering Lake Outfitters wilderness/hunting camp. Access to the Project, as indicated above, is clear and close to Trans Canada Hwy 11 near the towns of Nipigon and Geraldton.
The Company has the Option to acquire 100% interest in the Gorge Lithium Project via a four-staged earn-in acquisition over up to three and a half years.
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