Emerging lithium developer Burley Minerals (ASX:BUR) reports a wire-framed mineralisation model demonstrates a ‘substantial’ exploration target with at least 5 stacked lithium-bearing spodumene dykes at the Chubb Lithium Project in Canada.
The company says it recently commissioned Dahrouge Geological Consulting to perform a systematic review of the past drill logs. This included the collection of new detailed sample-scale observations including alteration, inclusion types and abundances, grain size, and lithologies to configure a database for the pending drill program. Billeted core samples for petrology have also been collected and shipped.
Burley reports multifaceted mining services firm Snowden Optiro have modelled and wire-framed the data from the Expedio database for the Chubb Lithium project. The model demonstrates the potential for a ‘substantial’ exploration target with at least 5 parallel stacked lithium-bearing spodumene dykes with all remaining open in both directions along strike and at depth.
The Chubb Lithium project is located 25km north of the mining town Val d’Or in Quebec, Canada. The company recently entered an acquisition agreement to fully acquire the project which is expected to be completed by the end of the month.
Burley’s share price has risen 7.29% on the ASX to $0.257 as of 9.15am AWST.
Commenting on the project, Burley Minerals Managing Director Wayne Richards says: “We were delighted to see unanimous approval from shareholders for the issue of the Chubb Lithium Project completion shares at the 19 January 2023 General Meeting, which showed overwhelming support for the recent transaction with 53% of the company’s shareholders voting.
The acquisition of the strategic Chubb Lithium Project is on target to be completed by 31 January 2023.
“The acquisition of the strategic Chubb Lithium Project is on target to be completed by 31 January 2023”
The new mineralisation interpretation demonstrates a substantial exploration target with potentially a minimum of 5 parallel stacked lithium-bearing pegmatite dykes, which remain open in both directions along strike and at depth.
Drilling and clearing permits have been lodged to test all 5 lodes over a strike potential of 1,200m to vertical depths of up to 250m. The new and extended Program of Works Application is forecast to see drilling approvals granted in early February with drilling aimed to commence in late February.”
Burley reports diamond core drilling is targeted for late February, with the accompanying award of the drilling contract scheduled for early February 2023.
The phase one drilling program is representative of about 20 holes for up to 5,000m. The drilling priorities for these holes based upon known lithology pegmatite structures and geological orientation have been confirmed.
The company reports the database has amalgamated the historically older and newer drilling programs to allow the wire-frame modelling to be finalised. Additionally, Burley says the phase one drilling program will include downhole geotechnical and mineralogical surveying to support the development of an initial Mineral Resource Estimate (MRE).
The metallurgical laboratory selection process for core cutting, preparation, and final analyses is nearing completion, with the awarding of this contract scheduled for early February.
Burley Minerals is an ASX-listed minerals explorer with lithium and iron ore projects in Quebec, Canada, and Western Australia. The company currently owns a 70% interest in the Yerecoin Magnetite Iron Ore Project in Western Australia.
The company has also recently entered an acquisition agreement to acquire the Mt James and Dragon lithium projects in the Gascoyne region of Western Australia.
Images: Burley Minerals Ltd