Coolabah Metals (ASX:CBH) has kicked off field exploration activities at its Hampden Lithium Project in the James Bay province of Quebec, Canada.
The $5.36 million market capitalisation company’s exploration team has begun ground-truthing and sampling interpreted lithium pegmatite targets acquired from recent remote sensing analyses. These targets were generated by the processing and analysis of Synthetic Aperture Radar (SAR) and Sentinel and Aster Multispectral data.
North American exploration consultancy Axiom Exploration Group has been engaged to assist Coolabah with the exploration work.
Commenting on the exploration activities, Coolabah Metals Managing Director Cameron Provost says: “This is a compelling period for Coolabah Metals as we expand into the international market and extend the reach into the exploration of lithium, which is in huge global demand.
“This is a compelling period for Coolabah Metals as we expand into the international market and extend the reach into the exploration of lithium”
Minerals such as lithium are the basis for sustainability measures moving forward and expanding industries, such as electric vehicles and solar power batteries.
Coolabah Metals is anticipating the results from the current field exploration activities to be processed in the coming weeks and the announcement of the results to be reported as soon as is practical.”
Coolabah Metals is an ASX-listed minerals exploration company focused on copper, gold, and base metal assets throughout Australia. The company is also actively exploring for critical minerals and its 2 lithium assets located in Canada.
As of 30 June 2023, the company had $3.708 million cash and cash equivalents at hand, according to its latest quarterly report published on 28 July 2023.
Write to Aaliyah Rogan at Mining.com.au
Images: Coolabah Metals
