Monger Gold (ASX:MMG) has entered into an exclusive option agreement to acquire 100% of the Brisk Lithium Project, located in the ‘prolific’ James Bay Lithium District in west-central Québec, Canada.
The Brisk Lithium Project is host to several known pegmatite outcrops. The vendor of the project, DG Resource Management, has also generated the potentially ‘world-class’ Corvette Lithium Project owned by Patriot Battery Metals.
Monger reports that exploration will be managed by Dahrouge Geological, who are accredited with a multitude of significant discoveries across multiple commodities, including lithium, REE’s, uranium, and specialty metals.
The option agreement includes a 45-day option period in which Monger intends to conduct a maiden field program, to confirm and test several of the targets for their potential to contain lithium.
the project is host to several known pegmatite outcrops, but no lithium focused work has been conducted on the project
Monger notes that the project is host to several known pegmatite outcrops, but no lithium focused work has been conducted on the project, and thus no lithium-bearing occurrences have yet been noted.
Multiple target areas have been identified based on the aforementioned targeting criteria and confirmed using aerial imagery. In addition to the indicator mineralogy, the project is located along trend of the Cancet Project (Winsome Resources) and Corvette (Patriot Battery Metals).
Commenting on the Agreement, MMG CEO Mr Adam Ritchie said: “Today’s announcement is powerful in two ways, (1) we are signalling our intent to move into the highly fertile grounds of the James Bay Lithium District, and (2) we are doing it in partnership with the highly respected and in-country Dahrouge Group.
As the founding geological team behind the lithium bearing pegmatites of the Corvette Project, Dahrouge’s insights behind the Brisk Lithium Project must not be underestimated.
Local in-country geological support is fundamental to our success and the deal structure shows long-term and ongoing commitment from our new partner. The James Bay Lithium District is emerging as the hard rock capital of North America and metallurgical test work from adjacent discoveries suggests that the Brisk Lithium Project is of great quality with potential processing advantages compared to other regions.
For Monger, this deal solidifies the foundational lithium asset set. In combination with the Scotty Lithium Project in Nevada, all three main lithium resource types are now covered being brine, sedimentary and hard rock. This places Monger in a prime position to take advantage of legislation recently passed by the US congress, enforcing a minimum level of locally sourced raw materials within the North American battery supply chain.”
The Brisk Lithium Project comprises six prospects covering 192 mineral claims totalling 9,849 hectares (98.5km-square) located in the James Bay Region of west-central, Québec.
The Project was identified due to its prospective nature for hosting hard-rock, pegmatite-hosted lithium mineralisation by Dahrouge’s proprietary targeting method, which included the review of pegmatite occurrences across the James Bay region with the appropriate indicator-mineralogy for hosting spodumene-bearing pegmatites, within favourable host-rocks.
Images: Monger Gold Limited
