Balkan Mining and Minerals Ltd (ASX: BMM) and Ombabika Group Inc. have secured an additional five new claims in the surrounding area to the Gorge Project in Ontario, Canada, increasing the Project earn-in area to approximately 43 sq. km.
Due to the encouraging results of the Gorge Project due diligence programme, the company said it welcomed the opportunity to strengthen its relationship with its earn-in partner to collaboratively increase the project land area within the scope of the current earn-in exploration arrangement.
Managing Director, Ross Cotton, said this will serve to benefit the company’s endeavours to systematically explore the larger area, with the existing earn-in terms as previously announced on July 4, 2022 remaining unchanged.
The newly staked claims are positioned directly to the north and east of the existing Gorge Project area. While exploration is limited across the newly staked claims, the company is well placed to continue a larger and scalable exploration program over the entire area.
The Gorge Lithium Project is located approximately 215km to the northeast of the City of Thunder Bay. The Project comprises of 12 active multi-cell mining claims covering a total area of approximately 43 sq. km and is located within the larger Georgia Lake pegmatite district which hosts potential for the discovery of lithium bearing pegmatites.
The Project area is accessible by bitumenised highways and dirt roads from Thunder Bay, proximate to railway networks with an international airport located at Thunder Bay. The Port of Thunder Bay is a major facility that ships several commodities and general cargo via the Great Lakes.
The second phase of the work program has neared completion, and the company expects to update the market on these activities shortly.
Tango Update
An airborne magnetic survey has been completed by BMM over the entire Tango Lithium project area. Magnetics are used to assist with identifying lithological contacts and structures. Although a geophysical survey will not identify a pegmatite dyke, it will identify preferential structures and trends that assist in determining targets for the second phase of the ground-work program. The results and analytical study of this survey are expected in approximately six weeks.
“The addition of the new claims adds significant scale to the prospective Gorge Project and demonstrates our capacity to move fast and secure locations in a highly competitive environment,” Mr Cotton said.
“We look forward to updating investors on the progress of our work program at not only Gorge, but also the recently optioned Tango Project.”
For further information please visit: https://www.balkanmin.com/
