Quarterly Activities Report
Perth, July 28, 2022 AEST (ABN Newswire) - Monger Gold Limited (
ASX:MMG) is pleased to provide the Quarterly Activity Report the three-month period ended 30 June 2022.
Highlights:
- Monger completes acquisition of American Consolidated Lithium which holds the rights to acquire the Scotty Lithium Project in Nevada, USA located just 70km from Albermarle Corp's Clayton Valley (Silver Peak) Lithium Mine - the only producing lithium mine in the USA and 330km from Tesla's Gigafactory, one of the largest globally; having produced in excess of 1 million EV battery packs since 2017.
- An auger soil geochemistry program commenced in late June 2022 at the Scotty Lithium Project in Nevada, USA, which will assist in defining targets to test in the maiden drilling program scheduled for H2 2022
- Scotty Lithium Project expands by 37% to 19,280 acres (7,802 ha) with the additional 264 claims (covering 5,280 acres) to the south of the Scotty Lithium Project to cover the potential southern extension of the adjoining Bonnie Claire Lithium Deposit, which is one of North America's largest undeveloped lithium resources. (JORC(2012) Inferred Resources of 3.4Bt @ 1,013ppm Li for 18.3 Mt of Li2CO3 equivalent (LCE))
- Significant results from diamond drilling at the Providence Prospect Mt Monger North have been received, with the best results being 1m @ 19.19 g/t from 99m, 8m @ 4.34 g/t from 123m including 21.30 g/t from 130m Providence Prospect identified as new Copper Gold System with Maiden JORC (2012) Mineral Resource Estimate 204,700 tonnes at 2.5g/t for 16,400 ounces gold.
- Gibraltar soils sampling program completed over a 11.89km2 area, targeting concealed deposits of gold, copper, nickel-cobalt and lithium.
Commenting on the Quarterly Activities MMG's Chairman, Mr Peretz Schapiro, said:
"This has been a truly transformational quarter for our company. The acquisition of the Scotty's Lithium Project in Nevada has provided us with a really exciting opportunity to develop a promising lithium asset in a part of the world that just can't get enough lithium. We were also delighted to have appointed Adam Ritchie as CEO of our company. In addition to his outstanding credentials, Adam is very passionate about lithium and is well placed to lead our company through this next phase of our development."
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/8DNOA5JJ
About Loyal Lithium Limited
Loyal Lithium Limited (ASX:LLI) is a well-structured listed resource exploration company with projects in Tier 1 North American mining jurisdictions in the James Bay Lithium District in Quebec, Canada and Nevada, USA. Through the systematic exploration of its projects, the Company aims to delineate JORC compliant resources, creating value for its shareholders.
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