Acquires Trieste Lithium Project in James Bay Lithium District
Perth, Oct 20, 2022 AEST (ABN Newswire) - Monger Gold Ltd (
ASX:MMG) is pleased to announce that it has staked and entered into agreements to acquire 100% of the Trieste Lithium Project, located in the prolific James Bay Lithium District Quebec, Canada (the Trieste Lithium Project or Project or Mineral Claims).
Commenting on the Trieste Lithium Project, Monger Gold's CEO, Mr Adam Ritchie, said:
"The successful acquisition of the Trieste Lithium Project represents a significant milestone for Monger. Multiple mapped pegmatites, an existing anomalous lithium result, favourable indicator minerology all within close proximity to Winsome's Adina Lithium Project, provides us with confidence in potentially discovering spodumene bearing pegmatites."
Commenting on the Agreement, DGRM's VP Exploration Mr Jody Dahrouge said:
"The acquisition of these claims along the inferred continuation of the Trieste Greenstone Belt demonstrates Monger's continued commitment to explore highly prospective areas for LCT Pegmatites. Despite recent lithium discoveries within the James Bay Lithium District, it remains significantly underexplored relative to other historic lithium pegmatite districts. We look forward to assisting Monger in the exploration of the newly acquired Trieste Lithium Project."
Trieste Lithium Project Overview
The Trieste Lithium Project comprises 423 mineral claims totalling 220 km2 located in the James Bay Region, Quebec.
The Trieste Lithium Project was identified due to its prospective nature for hosting hard-rock, pegmatite-hosted lithium mineralisation. The acquisition of Osisko Development Corporations' Trieste Property connects the identified prospects and contains the eastern extension of the Trieste greenstone belt.
Trieste Lithium Project Prospectivity
There are multiple historically mapped pegmatites within the Trieste Project area.
Within the project area is a 180ppm lithium rock chip sample analysed by the Geological Survey of Canada (GSC). The Lithium was contained within a tonalite rock type, 24 km along strike east in the same stratigraphic sequence and location that hosts the Adina Lithium Project.
The Trieste greenstone belt has a prominent ironstone (magnetite) unit through the central portion of the mafic volcanics and this magnetic feature appears to pinch out to the east but the leading northern edge of the mafics may continue further east as the geological interpretation is based on geophysical data with no mapping points across the eastern MMG claim extension. The new claims cover both known GSC mapped mafic volcanic suite and ironstones, and northern tonalite, granodiorites and gneisses, in the western (central) claim portion and in the east follow a magnetic high with the anomalous lithium sample located where mafic volcanics have not been mapped, but are on an interpreted E-W structure.
Further east the mafic rocks appear again along the interpreted structure and MMG's new claims are across these greenstones with mapped pegmatites having strong indicator minerology.
*To view the Acquisition Terms, please visit:
https://abnnewswire.net/lnk/70427X8C
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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