Burley (ASX:BUR) builds Canadian lithium portfolio
April 3, 2023Burley Minerals has snapped up 219 hectares of easily accessible territory just 14 kilometres northwest of its potentially company-making Chubb Lithium Project in the tier-1 Canadian province of Quebec.
The Bouvier Lithium Project sits just 21 km west from the refired North America Lithium Mine and Concentrator, producing the continent’s only major source of spodumene from a 101.9Mt at 1.06% lithium oxide resource.
$0.046Burley Managing Director Wayne Richards said claiming the project’s entirety within the heart of the only operating hard-rock mine and concentrator in the Abitibi Hub district was a great success for the company.
“The close proximity of both Projects (Chubb and Bouvier) to one another, bodes well for future exploration and development potential via the economic utilisation of resources and infrastructure from the same district and surrounding towns,” he said.
“The Projects have similar geological identities and structures and are ideally located close to established highways, sealed roads, power grids and the towns of Val-d Or and Amos – thereby providing ready access to exploration personnel, drilling companies, essential plant and equipment and laboratory facilities. Both Projects couldn’t be more ideally located from an access and logistics perspective.”
“The acquisitions support our Company Strategy of expanding our Lithium mining assets within the district of the Abitibi Lithium Hub and creates a further opportunity to create value-accretion for Shareholders and Stakeholders alike.”
Past drilling and rock chip sampling has returned multiple significant results up to 2.67 lithium oxide from Bouvier, which came in 120 metres along strike from multiple thick widths of spodumene bearing pegmatites logged in the 1950’s and yet to be assayed for lithium.
Historic exploration of Bouvier.
Quebec lithium exploration has been firing even through a downturn in lithium trading prices, and Bouvier sits within the Preissac-Lacorne plutonic complex of the Abitibi greenstone belt, its geological setting and structure forming an ideal host for lithium-rich pegmatites.
Burley is already approved for 5000 metres of drilling at Chubb and will now get to exploring over its expanded and fully owned Canadian tenements.
Project location
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