Trinex Minerals (ASX:TX3) has confirmed spodumene at the Ross Lake Lithium Project in Canada, upon conducting further analysis on selected rock chip samples taken from Dyke 75.
The $8.92 million market capitalisation company reports 5 rock chip samples with elevated lithium oxide (Li2O) assay results from 1.07% to 3.31% were selected for semi-quantitative X-Ray Diffraction (XRD) at SGS Laboratories in Lakefield, Ontario to confirm mineralogy of the samples and the presence of spodumene.
Further, the XRD results confirmed that spodumene is the dominant lithium-bearing mineral in all 5 samples, with up to 37.3% spodumene in sample D00179806.
Managing Director Will Dix says although the company anticipated these results, it is reassuring to receive the confirmation.
“This indicates that should the scale of the mineralisation be significant, the main lithium-bearing mineral at Ross Lake will be highly sought after by refiners and end users.”
Meanwhile, at the MAC Project that company arranged for additional ground to be staked which gives Trinex strategic access to the balance of the remaining prospective ground in the area surrounding the project.
The tenure abuts an area of withdrawn land, where interests are protected by the Government of the Northwest Territories (NWT) on behalf of the First Nations.
Trinex says the additional area, which will become part of the MAC Project, is expected to be ratified by the NWT government in the next 2-3 weeks.
Dix says: “We are also very pleased that in a time of significant activity in staking new land for lithium in the NWT, we have been able to secure this small but strategically important ground immediately to the south of our MAC Project.
The area has been on our watchlist for some time due to its prospectivity, and having access to it from now enables us to adjust our summer 2024 planned work program and follow the pegmatite fractionation vectors to thoroughly test this new area.”
Trinex Minerals is an Australian-based resources company focused on exploring for critical minerals. The company’s assets are considered prospective for lithium, nickel, copper, platinum group elements, and base metals.
As of 31 December 2023, the company had $3.313 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Trinex
