Leeuwin can’t wait to jump in at Cross Lake with maiden drilling following 4.31% Li20 assay

Leeuwin Metals reports assay of 4.31% Li20 from maiden field work at Cross Lake project in Canada
Assays confirm 4.7km LCT mineralised trend
Project has never been systematically explored for lithium
Maiden 10,000m drilling program planned for 2024

Special Report: Leeuwin Metals says maiden field work at its Cross Lake lithium project in Canada has returned assays of up to 4.31% Li20.

Cross Lake consist of 2,002km2 granted and pending mineral exploration licences in the Canadian province of Manitoba, about 120km to the south of the major regional mining centre of Thompson.

Last month, the company announced results from historic drill holes including 24.96m at 1.09% Li2O from 6m, 9.79m at 1.18% Li2O from 75.55m and 7.21m at 1.94% Li2O from 19m – however, the project has not previously been systematically explored for its lithium potential.

Leeuwin Metals’ (ASX:LM1) maiden field work from surface channel sampling has now shored up the large-scale opportunity, with high-grade assays confirming a 4.7km lithium–caesium–tantalum (LCT) mineralised trend at Cross Lake.

A large LCT pegmatite system

A total of 30 channel samples were collected, all returning evidence of a large LCT pegmatite system. Highlights include:

1m at 1.75% Li2O (CLCH23-022);
7m at 1.08% Li2O (CLCH23-021);
3m at 1.26% Li2O, including 0.55m at 4.31% Li2O (CLCH23-029); and
8m at 0.9% Li2O (CLCH23-001).

In addition, a high-grade rock chip sample returned 4.09% Li2O (CLRK00005).

The extensive surface mineralisation now consists of over 20 spodumene-bearing pegmatites, expanding the project’s scale beyond the previously sampled historic drill holes.

“We are extremely pleased with today’s results which display high-grade lithium mineralisation and provide confirmation of a highly fertile LCT system extending over a 4.7km strike of spodumene-bearing pegmatites,” LM1 managing director Christopher Piggott said.

“Building on our successful assay of historical drill holes for lithium which identified a 700m strike by 300m across pegmatite swarm with significant grade and widths, today’s results open the potential for a large-scale discovery at Cross Lake.

“Additionally, we are fortunate to be located in Manitoba, an infrastructure-rich province where the project is complemented by nearby hydro power availability and being only 100km from a rail line, each of which provide a significant advantage to any discovery.”

Leeuwin Sampling at the Spodumene and Metis Island Prospect area. Source: LM1.

Maiden drilling planned next year

The company plans to complete a maiden 10,000m drill program at the project next year, with drill permitting well advanced and the tendering process for a drill rig currently underway.

“As Leeuwin’s planned 2024 drilling and field exploration activities expand the footprint of outcropping pegmatites, we anticipate several catalysts in the coming months that will allow us to advance the project,” Piggott said.

Additionally, LM1 has applied for a grant of C$300,000 from the Manitoba Mineral Development Fund to support the Project (MMDF).

The MMDF is aimed at supporting mineral exploration in the province of Manitoba by making funding available to applicable projects in the region.

The outcome of this is expected to be known in the March quarter of 2024.

7m @ 1.08% Li2O (left, undrilled) and 6.1m @ 1.75% Li2O (right, also undrilled). Pic via LM1

 

This article was developed in collaboration with Leeuwin Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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