Burley (ASX:BUR) spark early spodumene success
May 5, 2023Burley Minerals has hit thick spodumene mineralisation marking early high calibre potential going well beyond historical estimates at its unfolding Chubb project in Quebec, Canada.
Intercepts up to 12 metres wide have significantly boosted known mineralisation to both the south and down-dip beyond past drilling, while current exploration continues to test for extensions both along strike and at depth.
Burley Managing Director Wayne Richards said it was a victorious onset for the maiden campaign, and the exploration team is abuzz after early positive signs lined up with past assays.
“Of particular interest is hole CLP010 which intersected 12.27 metres of spodumene-bearing pegmatite downhole, confirming mineralisation, which is of a good thickness, and is open at depth and along strike to the south. Geological modelling suggests that the main dyke is also open to the north,” Mr Richards said.
“Receiving such highly encouraging signs in such a short period of time is a fantastic achievement for our team and testament to their exploration skill. The Company is eagerly anticipating the first assay results which are due in 3 to 4 weeks.”
“Burley is also finalising the acquisition of the Bouvier Lithium Project, which is located 14km to the northwest of the Chubb Project. Company geologists are currently planning and permitting the inaugural drilling programme which will commence when this is complete.
While awaiting the return of assays, the exploration team has begun geological and geochemical mapping programmes over the now-thawed ground at Chubb North, where numerous additional pegmatites have already been spotted.
There are still only two operating lithium mines in a Canadian jurisdiction known for vast hard rock assets, and Burley is set up next to one of them as exploration is fires in a nation which one industry titan believes could become the Australia of North American lithium supply.
Chubb location map
$0.044Please 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.
