Canada invests $70m in Seymour Lake lithium project in Ontario
The lithium mine operated by Australia's Green Technology Metals could become the province's first lithium producer.
Margaux Resources (TSXV: MRL) announced that it recently filed a National Instrument 43-101 Technical Report to support its maiden mineral resource estimate for the Taurus deposit on the Cassiar gold property in British Columbia, Canada.
“The Margaux technical team continues to compile and verify historical technical data in preparation for the upcoming exploration season,” the Canadian company said in a press release. “Existing digital data is being vetted and transferred, while additional data from historical work on the property is being incorporated.”
Mineralization at Cassiar occurs along a 15-kilometre corridor, where gold occurs both as discrete high-grade veins and as near-surface low-grade style mineralization
According to Margaux, in addition to technical work, its team is advancing reporting, permitting, and logistical planning to support the 2020 exploration program, which will include drilling, and is expected to begin in May.
The miner said the program will focus on quality infill, extension, and exploration targets, primarily near the 1 MM oz Taurus resource area, reported on back in September 2019.
“With a history of gold mining on high-grade vein deposits across the property, and a recently-confirmed million-ounce bulk tonnage resource at surface, we see a lot of upside at Cassiar,” Tyler Rice, Margaux’s president and CEO, said in the press brief.
Located in northern British Columbia, the 56,0000-hectare project is an advanced-stage orogenic gold system with a historical Inferred Resource of 1.04 million ounces gold (32.4 million tonnes at an average grade of 1.0 g/t gold using a cut-off grade of 0.5 g/t gold).
