Winsome Resources (ASX:WR1) has struck a deal to acquire the prospective Tilly lithium project near its existing Adina project in Canada.
The deal takes Winsome’s acreage holding in the emerging lithium play in Quebec’s James Bay region to 856.6sq. km, making it one of the largest landholders in the region.
Tilly shares several geological similarities to Adina and is near tonalites and other intrusive rocks believed to be the source rocks for lithium-caesiumtantalum (LCT) pegmatites at Adina, and elsewhere in the area, but little exploration has been carried out over the acreage.
Winsome is planning to carry out field exploration work on the newly acquired project later this year, which will mirror the successful method used at Adina and will include visual identification of pegmatite outcrops, rock chip sampling and soil sampling.
“We have maintained a consistent growth outlook throughout our time in Canada and have the advantage of being one of the first ASX companies to be active in the James Bay region,” Managing Director, Chris Evans, said.
“Following our success at Adina and Cancet, we have had numerous opportunities to increase our landholdings. In evaluating these we follow a strict process to determine whether projects enhance the development of our flagship projects, and accordingly whether these opportunities are value accretive for our shareholders.
“In the case of Tilly the proximity and similar geological setting to Adina means that the initial work programmes can be integrated with the activity we are planning at Adina next field season, and any discoveries could be added into the development pathway for Adina.”
The Tilly Project is located 20km south east of Adina and comprises 91 claims covering 47sq. km. The claims are adjacent to Loyal Lithium’s Trieste Project (ASX:LLI).
Importantly the Tilly Project overlies a significant east – west regional structural corridor and is in close proximity to tonalites and other intrusive rocks believed to be the source rocks for lithium-caesium- tantalum (LCT) pegmatites at Adina and elsewhere in the area. These two key features are also seen at Adina and accordingly the Company is encouraged that Tilly has potential to host lithium mineralization.
For further information please visit: https://winsomeresources.com.au/
