Trinex Minerals (ASX:TX3) is planning for a maiden drilling program to be undertaken in H1 2024 at its Ross Lake Lithium and MAC Lithium projects in the Northwest Territories, Canada.
Managing Director Will Dix says the company’s upcoming focus is continuing engagement and consultation with First Nation Communities with a series of face-to-face meetings scheduled for late January 2024.
He says Trinex also plans to submit a Class A Land Use Permit Application early next month.
“Following these meetings, the timely submission of a Land Use Permit Application to enable the company to commence a maiden drilling campaign in Canada during the June 2024 quarter.”
Recently, Trinex received final assay results from systematic surface geochemical sampling at both projects.
The company reports results from rock chip samples taken at the Ross Lake project include 3.31% lithium oxide (Li2O), 2.27% Li2O, and 1.84% Li2O from the Dyke 75 area.
Meanwhile, rock chip samples taken at the MAC project confirm the presence of a zoned lithium-caesium-tantalum (LCT) pegmatite system with a clear trend in decreasing potassium/rubidium (K/Rb) ratio — a typical indicator of lithium-bearing pegmatites.
The Managing Director says these results have been highly anticipated and support the company’s decision to focus on its Canadian assets.
“The team was able to make the most of this period with ten days of fieldwork to confirm the areas of known prospectivity in the new tenure.
These results have positioned us for a targeted drill program as soon as the season allows, and the team has also identified some exciting new target areas for mapping and follow-up fieldwork in the next Canadian summer.”
Both lithium projects lie north of Yellowknife, an emerging region of critical minerals exploration.
Trinex Minerals is an Australian-based resources company exploring for critical minerals.
As of 30 September 2023, the company had $1.76 million cash and cash equivalents at hand, according to its latest quarterly report. Post quarter-end, Trinex completed a $4.8 million placement.
Write to Aaliyah Rogan at Mining.com.au
Images: Trinex Minerals
