Loyal Lithium (ASX:LLI) says it is well-positioned to further unlock the potential of its Trieste Lithium Project in the James Bay region of Quebec, amid receiving ‘high-grade’ lithium and tantalum drill results.
The $28.43 million market capitalisation company is considering further drilling, geophysical, and field-based programs to be conducted during the upcoming Canadian summer at the project, while data from its Dyke #05 drilling is refining in-house geological models.
Managing Director Adam Ritchie says: “As we continue to expand our geological interpretation efforts and streamline our operations, we are excited about the immense potential that lies ahead.
With additional assay results from Dyke #04 anticipated in early Q2, we are well-positioned to further unlock the potential of the Trieste Lithium Project.”
Loyal Lithium reports Dyke #05 drilling conducted at Trieste has returned ‘world-class’ lithium and tantalum grades, including hole TR24-010 with 31.8m @ 2.2% Li2O and 499 parts per million (ppm) Ta2O5 from 2.9m, including 10.2m @ 3% Li2O and 929ppm Ta2O5.
The company notes the identified fertile geochemistry and anomalous magnetic lows within the Greenstone and Metasediment fault flow zone further demonstrates Trieste’s ‘significant’ potential for new discoveries and scalability.
Ritchie says the company and its geological partner Dahrouge Consulting have been advancing the lithium project throughout the Canadian winter.
“The outstanding high-grade lithium and tantalum results are truly world-class and solidify the Trieste Lithium Project as a standout among the pre-resource lithium plays in Quebec.”
Loyal Lithium is a lithium-led battery minerals and technology explorer focused on discoveries in tier one North American jurisdictions.
As of 31 December 2023, the company had $6.404 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Loyal Lithium
