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.
The first hole of Wallbridge Mining’s 2019 surface drill program has intersected six instances of visible gold and other mineralized veins over about 275 metres of core at Area 51.
The discovery of Area 51 – a new zone 300 metres southwest of the Fenelon deposit – was announced in January 2019. Hole FA-19-052 confirmed the find with an intersection of 2.71 metres grading 12.70 g/t gold. The zone has many similarities with the main deposit at the Fenelon gold property 75 km northwest of Matagami.
Wallbridge says the Area 51 system appears to have formed along the regional contact of an unknown southern extension of the Jeremie Pluton. Geophysical data points toward a contact that may extend over 2.5 km on the property. This area will be of prime interest for drilling this year.
Since acquiring Fenelon in 2016, Wallbridge has completed an updated resource estimate and a positive pre-feasibility study. As well, a 35,000-tonne underground bulk sample is nearing completion.
(This article first appeared in the Canadian Mining Journal)
