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.

 

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