ASX-listed early stage exploration company Balkan Mining and Minerals (ASX:BMM) reports it has strengthened its Canadian lithium (Li2O) portfolio after acquiring 6 new multi-cell claims totalling 27.05km-square within the Georgia Lake lithium district.
The newly acquired multi-cell claims have been renamed to the ‘Arrel Project’ and are situated in between the company’s existing Gorge and Tango projects in the Superior Province of Ontario, further solidifying its presence in the region.
These freshly acquired tenements have undergone limited modern exploration, however, the Thunder Bay region of Ontario has been the focus of Li2O pegmatite exploration works with the delineation of hard rock lithium deposits, including Rock Tech Lithium’s Georgia Lake project and Imagine Lithium’s (TSXV:ILI) Jackpot Lithium Project.
Balkan has acquired 100% interest in the Arrel project following a cash payment of CAD$54,000 and granting a 1.5% net smelter royalty
In addition, the acquisition comes following the discovery of close to surface spodumene bearing pegmatite dykes at its Gorge Lithium project following a 15 day prospecting and channel sampling program at both the Koshman and Nelson prospective areas, as announced by the company last month.
Balkan Mining and Minerals is an ASX-listed company focused on the early-stage exploration through to development of borate and associated lithium in the Balkans and Canada. The company boasts a portfolio of 100% owned lithium exploration projects based in Canada and the Republic of Serbia, all of which are being explored for Li2O mineralisation.
The company’s recently acquired Arrel project is located about 15km southwest of its Gorge project, 158km northeast of Thunder Bay and 30km south of Beardmore. The project can be easily accessed by Highway 11 north of Nipigon and then via logging and selected dirt roads to the property.
The remainder of the company’s Li2O portfolio includes the Rekovac, Dobrinja, Pranjani, Tango and Gorge projects.
Images: Balkan Mining and Minerals Ltd & iStock
