More spodumene crystals found at Cancet West just six months after project acquisition
New discovery area named White Bear
Fin holds strategic ground position in Quebec near Winsome Resources, Patriot Battery Metals and James Bay Minerals
Drilling planned for early next year
Fin Resources has stumbled across more outcropping pegmatites at its newly named White Bear lithium discovery in Canada.
A little more than six months after joining the Quebec lithium party, Fin (ASX: FIN) has identified another batch of spodumene crystals at its Cancet West project no more than 250m away from the previous discovery outcrop.
Spodumene, a mineral which grades ~6% lithium, is the holy grail for hard rock lithium explorers.
The discovery was made by Fin’s in-country consultant Mercator Geological Services during recent follow-up field work.
Fin has afforded the name White Bear to this new discovery at Cancet West, which sits just 45km west of the Cancet deposit held by Winsome Resources (ASX: WR1) and 100km west of the Corvette lithium discovery made by Patriot Battery Metals (ASX: PMT).
Newly listed James Bay Minerals (ASX: JBY) also has tenure strategically positioned between the east and west blocks of Cancet West.
Spodumene confirmed in all the right places
Fin has interpreted that all spodumene-bearing outcrops within the White Bear area are part of the same intrusive body.
The new pegmatite outcrops were discovered from regional reconnaissance work and will be explored in more depth during the Canadian spring of 2024.
All four samples from three trenches across White Bear have been confirmed as containing spodumene via a SciAps handheld laser-induced breakdown spectroscopy. Further analysis is being undertaken at ALS in Val d’Or.
Results are expected within 4-6 weeks.
Pegmatite discovery validates Canadian expedition
Fin director Jason Bontempo said this latest development justified the company’s decision to acquire the Canadian lithium assets back in April.
“Being able to discover numerous additional outcropping pegmatite that hosts spodumene crystals up to 70cm in length is very exciting for the company,” he said.
“We are now working very hard to progress these targets to drilling during Q1 2024.”
Fin is now planning for a Canadian winter drilling program, including the submission of an initial drilling proposal to Hydro Quebec and Quebec Ministry of Natural Resources.
This article was developed in collaboration with Fin Resources, 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.
The post There’s a Bear in There: Fin froths over new Canadian lithium find appeared first on Stockhead.
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