Burley Minerals (ASX:BUR) has restarted drilling following the lifting of machinery restrictions at its wholly owned Chubb Lithium Project in Quebéc, Canada.
The $17.72 million market capitalisation company says diamond drilling will continue to test for extensions along strike and at depth at the project’s Central Main Dyke.
Burley reports drilling will also test for spodumene in mapped parallel pegmatite dykes which have minimal historical drilling.
Diamond drilling began in April 2023 beforebeing suspended due to nearby wildfires and the implementation of machinery operations bans. Prior to ceasing of exploration, 14 holes for 2,789m were completed at the Chubb Central Main Dyke.
Of these 14 holes, the first 7 confirmed ‘strong’ continuity of spodumene mineralisation with ‘significant’ lithium grades in pegmatite.
Drilling will continue to be operated by contractor Diafor, a local community member of the town of Val-d’ Or. Diafor is noted to have been the contractor for the 2021 and 2022 drilling campaign for the previous tenement owner, Newfoundland Discovery.
Speaking on the start of drilling, Burley Minerals Managing Director and Chief Executive Officer Stewart McCallion says: “Burley is thrilled to resume drilling at the Chubb Central following the end of fire-related machinery movement bans, and the reopening of the Val d’Or region to mechanical exploration. Burley had made significant progress prior to the emplacement of the bans at Chubb Central with very encouraging drill results extending the known lithium mineralisation.
“Burley is thrilled to resume drilling at the Chubb Central following the end of fire-related machinery movement bans”
The new drilling intersections continue to build on high-grade spodumene zones identified in mapping and drilling undertaken in 2021 and 2022. We are excited as the team successfully continues to progress this highly prospective project having only completed the acquisition of the Chubb Lithium Project in February this year. The project is strategically located in the tier one lithium province of Québec, Canada.”
Burley Minerals is a well-funded, ASX-listed, Perth-based minerals explorer with lithium and iron ore projects located within the worldclass, tier one provinces of Quebéc, Canada; and Western Australia.
The company’s recently acquired Chubb Lithium Project is located 25km north of the mining community of Val d’Or in the heart of the ‘world-class’ lithium province of Quebéc, Canada, and covers a total landholding of 1,509 hectares.
Burley Minerals had $2.46 million cash at hand as of 31 March 2023, as stated in its latest quarterly report released on 28 April 2023. However, the company received firm commitments to raise $4.5 million through a combination of both a flow-through-share and share placement.
Write to Adam Drought at Mining.com.au
Images: Burley Minerals Ltd
