Winsome Resources (ASX:WR1) has signed an Option Agreement to acquire the Jackpot Property, immediately to the north of its flagship Adina Project in Quebec, Canada.
If exercised, it will increase the size of the Adina project by 50%, to 44sq. km, and take Winsome’s land holding in the James Bay lithium region to more than 870 sq. km.
The acquisition would open up further exploration targets for Winsome, as well as provide flexibility for site layout and infrastructure as the company progresses towards development.
“With Adina moving into a development phase later this year, taking an option on attractive terms over the Jackpot property is a strategic move to not only give us access to further exploration upside around Adina but also flexibility in future design of site layout and infrastructure footprints,” Managing Director, Chris Evans, said.
“Work continues apace with plans for mobilization of the fourth rig to the Adina site and we look forward to further drilling results in the near future as we look towards our Maiden Resource later in 2023.”
Project Summary
The Jackpot Property is located immediately north of Adina and comprises 29 claims covering 14.9sq. km.
Regional geological interpretation by the Quebec’s Department of Energy and Natural Resources indicates the project area is principally underlain by the Joubert Suite, a suite of intrusive tonalites and granodiorites. The Joubert Suite intrudes the adjacent greenstones of the Trieste Formation, which hosts the lithium-bearing pegmatite swarms at Adina, and has been postulated as contributing to the formation of these pegmatites.
Forward Plan for the Jackpot Project
The company is currently compiling all publicly available geological, geochemical, geophysical and topographic data over the Jackpot Project.
Targets generated from these datasets will provide the basis for field exploration to be carried out on the property during the imminent 2023 summer field season.
The field exploration program to be implemented for the next 12 months will be identical to the successful method used at Adina and will include visual identification of pegmatite outcrops, rock chip sampling and soil sampling, which may be followed by stripping to better expose key outcrops and channel sampling.
The company will also aim to include geophysical field work such as ground gravity surveys, similar to those already completed at Adina.
For further information please visit: https://winsomeresources.com.au/
