Burley (ASX:BUR) move on Chubb lithium
January 12, 2023Emerging mineral explorer and developer Burley Minerals has moved on the exciting strategic acquisition of the Chubb Lithium Project in the world-class Canadian Province of Quebec, receiving the green light on known lithium-bearing pegmatites next month.
The proposed acquisition will be in good company, including Sayona Mining Ltd (ASX: SYA) and Piedmont Lithium Inc’s North American Lithium (NAL) mines, operations, and Mineral Resources 119Mt @1.1% Li2O.
Location of the Chubb Lithium Project and other significant lithium mines, concentrators, Infrastructure (road and rail) and ports.
The Company is confident an initial phase of 5000 metres of diamond core drilling will verify, extend and confirm the extent, depth and orientation of the spodumene-bearing lithium pegmatites.
“Burley has progressed the advancement of the approvals and mobilisation of the drilling contractor to commence diamond core drilling at the known lithium-bearing pegmatites by late February, which is an outstanding achievement by the Burley team,” Managing Director Wayne Richards said.
“The general meeting of shareholders on the 19 January 2023 paves the way for completion of the strategic acquisition of the Chubb Lithium Project in the world-class lithium province of Quebec by 31 January 2023,with the commencement of drilling to follow thereafter.
“The early mobilisation of Dahrouge allows Burley to establish itself within the local community and rapidly advance the exploration program.”
Next Steps
Geologists are already re-logging core and drill logs at the site finalising mineralisation interpretation and wire-frame models ahead of a shareholder meeting next week before the completion of the Chubb Lithium Project acquisition.
Price Action
The Company’s ASX-listed shares are 19c at pre-Market Open.
About Burley Minerals Limited
Burley Minerals is a well-funded ASX-listed, Perth-based minerals explorer with Lithium, Iron Ore and Ni-Cu-Co-PGE Projects located within the World-Class Tier-1 provinces of Quebec, Canada and Western Australia. A recent Agreement to acquire 100% ownership of the Chubb Lithium Project in Quebec, Canada, and the Mt James and Dragon Lithium Projects in the Gascoyne region of Western Australia, is nearing completion.
Fundamental Data
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