Balkan (ASX:BMM) increases shoe size in lithium-rich Ontario

Balkan Mining and Minerals has signed a binding agreement to acquire 100% of the Barbara Lithium exploration project just 15km from Imagine Lithium’s aptly named Jackpot Deposit in the Barbara Lake Area, part of the emerging Thunder Bay North Mining District of Ontario, Canada.

The promising site is underlain by light muscovite grey granite, considered parental rock for lithium-bearing pegmatite.

It is also ideally situated in the Quetico Subprovince of the Superior Province, bounded by granite-greenstone.

Limited historic exploration revealed 26.5 m of copper mineralisation, averaging 1 % Cu over 5.82 m, while a second hole intersected 17.3 m of copper mineralisation grading 0.54 % Cu. 

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BAYAN FPO [BMM]

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The Project is located in the central portion of the Barbara Lake Area and encompasses the southwestern part of Georgia Lake. The Project is located approximately 37 km northeast of Nipigon and 150 km northeast of Thunder Bay, Ontario.

“We are pleased to have secured the Barabara Project in the attractive Northwestern Ontario, Thunder Bay Lithium District,” Balkan Managing Director Ross Cotton said.

With this acquisition, we expand our portfolio footprint in Ontario to 120km2 further demonstrating our commitment to the region,” Mr Cotton said.

I am pleased with our team in Canada and their achievements, with planning begun to undertake exploration activities in the emerging Thunder Bay Lithium District in 2023,”  he added.

BAYAN FPO [BMM]

Sector: Basic Materials

Industry: Other Industrial Metals & Mining

Employees:

Bayan Mining and Minerals Limited, a mineral exploration company, engages in the exploration and development of lithium and borates in Canada and Serbia. The company holds 100% interest in the Gorge Lithium project consists of 12 claims covering 45.1 square kilometers; the Tango Lithium project consists of 41 contiguous claims covering 8.64 square kilometers within the Georgia Lake pegmatite field in Canada; the Arrel Lithium project consists of 6 claims covering 27.13 square kilometers in Canada; and the Barbara Project consists of 212 exploration claims covering 45 square kilometers, located in Ontario, Canada. It also holds 100% interest in the Corvette North and Corvette Northwest projects, covering approximately 22 square kilometers and located near the district of James Bay in Quebec, Canada. The company was formerly known as Balkan Mining and Minerals Limited and changed its name to Bayan Mining and Minerals Limited in December 2024. Bayan Mining and Minerals Limited was incorporated in 2020 and is based in Perth, Australia.

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