Metals Australia To Start Major Drilling Program In Quebec, Canada

Metals Australia Ltd (ASX: MLS) has received all required permitting approvals for a major new drilling and trenching program in Quebec, Canada.

This fully-funded program will test new high-grade gold, silver and lithium bearing pegmatite targets at the company’s Corvette River Project.

The project is along strike and on a parallel belt to Patriot Battery Metals’ (ASX: PMT) world-class Corvette Lithium Project.

MLS’s Corvette River Project – key gold & lithium targets with proposed drilling on geology and magnetics.

The key targets to be tested with the approved trenching and drilling programs are as follows:

High-grade gold with silver and copper targets

  • East Eade Gold Target on the Corvette South Trend, where previous rockchip sampling included assays of up to 29.7 g/t gold (Au) and 12 g/t Au.
  • West Eade Gold Target on the Corvette South Trend, which produced historical assays of up to 11.45g/t gold.
  • Felicie Gold-Silver-Copper Target on the Corvette Trend, where previous rockchip sampling produced grades of up to 4.16 g/t Au, 44.1 g/t silver (Ag) and 0.23% copper (Cu).

Priority lithium pegmatite targets

  • CR1 Lithium-Caesium-Tantalum (LCT) Pegmatite which has been mapped over a 1.6km strike length and across a 100m thick zone within the company’s Felicie tenements. CR1 is located 2.5km west of Patriot Battery Metals’ CV9 pegmatite.
  • CS1 LCT Pegmatite which produced high lithium results of 370ppm Li and 290ppm Li from the only two first-pass samples collected.

James Bay region lithium project locations including Metals Australia’s Corvette River project.

Highly-endowed greenstone belt

 Metals Australia CEO Paul Ferguson commented: “In addition to the highly-prospective lithium pegmatite targets we have identified analogous to Patriot Battery Metals’ world-class Corvette Trend lithium deposits, we have also identified multiple new highgrade gold and silver target zones based on our geological team’s extensive re-interpretation of previous rockchip sampling results and magnetics.

 “Significantly, these high-grade targets are located along Quebec’s highly-endowed Lac Guyer greenstone belt which, apart from the Corvette lithium discovery, also hosts many significant gold and silver deposits including Newmont Corp’s ~215,000 ounce per annum Eleonore gold mine.”

What’s next?

Metals Australia has received permits for the completion of up to 19 drillholes, 16 trenches and 8 heli-pads.

These permits complete the regulatory requirements for the company to undertake exploration on the Corvette and Corvette River South properties.



JustStocks provides data and commentary that constitutes general information only. This does not constitute personal, financial or professional advice or assistance. The data and information compiled do not consider your investment objectives or your financial circumstances. JustStocks cannot guarantee this website’s accuracy, completeness, or timeliness. JustStocks accepts no responsibility regarding any inaccuracy, omission, or change in information or articles or the data provided. The information published on this site/page should not be relied upon as a substitute for personal financial or professional advice. The information provided may not be appropriate for your circumstances or needs. JustStocks recommends that you seek professional advice from a qualified advisor before you make any decisions.

Articles of Interest