Balkan (ASX:BMM) expands Gorge promise
November 14, 2022Balkan Mining and Minerals has scaled lithium potential by more than doubling its earn-in area at the Gorge Project in the emerging Ontario province in Canada.
The addition of 22.2 square kilometres increases the Project size to 43km2 of ground highly prospective for lithium, and comes as the Company awaits final results following the discovery of a large pegmatite field bearing lithium-associated minerals during fieldwork in the initial area less than a week ago.
Gorge Project Location Map
The Company said the opportunity to strengthen its relationship with its earn-in partner would benefit endeavours to explore the larger area with the existing earn-in terms systematically.
“The addition of the new claims adds significant scale to the prospective Gorge Project and demonstrates our capacity to move fast and secure locations in a highly competitive environment,” Managing Director Ross Cotton said.
“We look forward to updating investors on the progress of our work program at not only Gorge, but also the recently optioned Tango Project.”
Next Steps
The second phase of the work program has neared completion, and the Company expects to update the market on these activities shortly.
Price Action
The Company’s ASX-listed shares are 29c at Market Open.
Tango Lithium Project Update
BMM has completed an airborne magnetic survey over the entire Tango Lithium project area. Magnetics are used to assist with identifying lithological contacts and structures. Although a geophysical survey will not place a pegmatite dyke, it will locate preferential facilities and trends that help determine targets for the second phase of the ground-work program. The results and analytical study of this survey are expected in approximately six weeks. Analytical results from the fieldwork program announced on 8 November 2022 are scheduled for mid-November.
About the Gorge Lithium Project
The Gorge Lithium Project is located approximately 215km northeast of the City of Thunder Bay. The Project comprises 12 active multi-cell mining claims covering a total area of approximately 43km2. It is located within the larger Georgia Lake pegmatite district, which hosts potential for the discovery of lithium-bearing pegmatites. The Project area is accessible by bitumenised highways and dirt roads from Thunder Bay, proximate to railway networks with an international airport located at Thunder Bay. The Port of Thunder Bay is a major 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.
