Winsome Resources Upgrades Lithium Tonnage At Adina

Winsome Resources Ltd (ASX: WR1) has revealed a significant resource upgrade at its Adina Lithium Project in Quebec, Canada.

The upgrade has increased the global tonnage by 33% to 77.9 million tonnes (Mt) at an improved grade of 1.15% Li2O.

This corresponds to 2.21Mt Lithium Carbonate Equivalent (LCE) and confirms Adina’s positioning as one of the largest undeveloped lithium deposits in the world.

Mineral resource statement for the Adina Lithium Deposit.

Importantly, the resource now includes 61.4Mt at 1.14% Li2O in the higher confidence Indicated category as a result of the systematic drilling.

Equivalent to tier one lithium assets

Winsome Managing Director Chris Evans said: “The update to the MRE affirms the significance of our global resource and solidifies our position and strategic location at the heart of the green energy industry and EV supply chain in North America.

 “To increase the resource by almost 20Mt while also enhancing our grade and resource category is an exceptional outcome from our latest phase of systematic drilling.

 “In particular the grade which has been defined close to surface in the Main Zone is a key advantage as we progress the Adina Lithium Project.”

Evans emphasised that the scale, tenor and metallurgical properties of Adina are equivalent to the tier one lithium assets globally.

Project studies

With the completion of the MRE, update work has commenced on pit optimisation studies which will lead into detailed scheduling, planning and mine design.

Meanwhile, due diligence work continues on the option to acquire the nearby Renard Operation with project studies including Renard as an operating scenario.

Results of the metallurgical test work program completed on core samples from 2023 will be used to develop process flowsheets.

Winsome had cash of A$44.6 million as at 31 March 2024.

 

Disclaimer

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