Metals Australia posts highest Corvette grades to date 

Metals Australia (ASX:MLS) has recorded the highest lithium results to date from the Corvette South Trend, as part of its Corvette River Lithium Project in the James Bay Province of Quebec, Canada. 

The $21.84 million market capitalisation company says results confirm the presence of a new lithium-caesium-tantalum (LCT) pegmatite zone on the Corvette South Trend — named the CS1 LCT pegmatite discovery. 

Metals Australia is seeking to fast-track  approvals to begin a systematic channel sampling and drilling across the CS1 LCT pegmatite discovery and the previously announced CR1 LCT pegmatite discovery on the parallel CV lithium trend. 

Drilling is expected to begin as soon as possible once access permits have been secured.   

The company notes the results from the new CS1 LCT pegmatite have returned lithium grades up to 370 parts per million (ppm) Li and 290ppm Li from the only 2 first-pass samples collected from the outcropping coarse-grained LCT pegmatite to date.  

Meanwhile, the company says other ‘highly anomalous’ LCT results have been produced from multiple coarse-grained pegmatite outcrops identified over an 11km strike length within the West Eade tenement, as well as over an 8km strike length within the East Eade tenements. 

The company believes the results returned confirm that Corvette South Trend represents a new, ‘highly prospective’ lithium corridor within proximity to Patriot Battery Metals (ASX:PMT) ‘world-class’ Corvette Lithium Trend. 

Metals Australia is focused on advancing a ‘high quality’ portfolio of battery minerals and metals projects within the ‘highly prospective’ and mining friendly jurisdictions of Western Australia and Quebec, Canada. 

As of 30 September 2023, Metals Australia had $15.575 million cash and cash equivalents at hand, according to its latest quarterly report.

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Images: Metals Australia
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.