Perth-based mineral exploration company Burley Minerals (ASX:BUR) has completed the acquisition of the Chubb Lithium Project in Canada, as well as the Mt James, and Dragon Lithium projects in the Gascoyne region of Western Australia.
The company says Chubb is located in the heart of the ‘world-class’ lithium (Li2O) province of Quebec, Canada, which hosts major lithium projects including Sayona Mining (ASX:SYA), and Piedmont Lithium’s (ASX:PLL) North American lithium mines, operations, and mineral resources totalling 119 million tonnes @ 1.1% Li2O.
Commenting on the acquisitions, Burley Minerals Managing Director Wayne Richards says: “We were delighted to have concluded the acquisition of these 3 strategic lithium projects, with the immediate focus being on the exploration and drilling program at the Chubb Lithium Project in Quebec.
“we look forward to commencing a successful drilling campaign in this much sought after province for lithium-bearing spodumene pegmatites”
With recent exploration success in Quebec by fellow ASX-listed lithium exploration and development companies in the James Bay region and the finalisation of commissioning at the North American Lithium Project located 10km directly northwest of the Chubb project tenements, we look forward to commencing a successful drilling campaign in this much sought after province for lithium-bearing spodumene pegmatites.”
Burley first entered into an exclusive agreement to acquire the private Canadian company LI2O, which held the Chubb, Mt James, and Dragon projects in November 2022.
Burley Minerals is an ASX-listed minerals explorer with a portfolio of lithium and iron ore projects in Canada and Western Australia. These projects include the Chubb, Mt James, and Dragon Lithium projects. The company also holds a 70% interest in the Yerecoin Magnetite Iron Ore Project in Western Australia.
The Mt James Project is located near Carnarvon in Western Australia, and is considered ‘highly’ prospective for spodumene, and lithium. The project has previously confirmed anomalous grades of gold and copper.
The Dragon Lithium Project is located about 32km northwest of Mt James, and is also prospective for lithium-bearing spodumene pegmatites.
