Fin Resources confirms near-surface spodumene discovery at White Bear

Eight diamond drill holes have been completed at the White Bear prospect within the broader Cancet West project
A spodumene bearing pegmatite zone with thickness of 12.1m was intersected in the final drill hole
A follow up work program is planned for the coming summer months in Canada

Special Report: Fin Resources has wrapped up a program of diamond drilling at the White Bear pegmatite, with five holes intersecting visual megacrystic spodumene up to 15cm in length.

Fin Resources (ASX:FIN) White Bear spodumene bearing pegmatite was discovered in 2023 at the Cancet West lithium project in Quebec, Canada, 45km from Winsome Resources’ (ASX:WR1) major Cancet asset.

Subsequent sampling returned high-grades of Li2O as well as pathfinder elements, along with low potassium-to-rubidium ratios and elevated caesium; all significant signs of potentially highly fractionated lithium-bearing pegmatites.

Diamond drilling kicked off in April to test a spodumene-bearing lithium mineralised zone, which was identified over a ~300m strike by 100m at its widest, comprising at least five pegmatite outcrops within the White Bear tenement.

Previous rock chip samples in the area returned 6.50% Li2O and 6.85% Li2O with the e interpreted pegmatite trends at Cancet West, including White Bear, appearing to be associated with the ~10-15km strike length of the Archean-aged Lac Guyer greenstone belt.

Eight diamond holes completed

Now, eight diamond drill holes for 1,009m have been completed at White Bear, with core samples dispatched to Val d’Or, Quebec for cutting and submission to ActLabs for analysis.

The program successfully intersected the White Bear pegmatite over widths of up to 12m in hole 24-WB-008 as drill-hole data is compiled to determine true thickness and other structural information.

Five holes intersected visual megacrystic spodumene up to 15cm in length within an albite-quartz pegmatite zone that has so far been confirmed over a strike length of 275m, based on diamond drilling and field mapping.

FIN says the pegmatite appears to be relatively flat-lying, shallow dipping to the northwest, and open along strike and at depth, indicating a low strip ratio should an economic deposit be defined.

Follow up program in the works

Based on the success of the maiden drilling campaign, a follow up work program for White Bear is being planned for coming summer months in Canada.

“We are extremely happy with our maiden program at White Bear, hitting our targeted spodumene zone in a number of holes,” FIN chairman Jason Bontempo says.

“We eagerly await assay results that will allow us to refine our targets for potential further drilling programs this summer.”

On the horizon

Once the assay results have been received, final interpretation of the pegmatite occurrences will be completed to assist in vectoring and planning further surface exploration and drilling.

The extent of pegmatite occurrences identified so far are restricted only by the small amount of work conducted to date.

More work is required to determine the potential for extensions to pegmatites identified so far, and to extend along strike and at depth, as well as for additional pegmatites to the west.

FIN also plans to carry out a geophysical survey using LIDAR to better define the topographic surface beneath the tree canopies and also assist in producing a surface digital elevation model (DEM) as well as locating additional pegmatite outcrops that are potentially covered by thick undergrowth elsewhere across Cancet West.

Drilling is planned to re-commence once all of the above activities have been completed and additional targets defined.

This article was developed in collaboration with Fin Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.