Jenpeg shaping up as a large-scale lithium opportunity for Leeuwin

Historical drill core resampling returns up to 1.75% Li2O at Jenpeg in Canada
The project hosts a large-scale +6km prospective corridor
Jenpeg has been historically underexplored for lithium
Leeuwin Metals is also focussed on its nearby flagship William Lake nickel project

“Today’s results confirm the emergence of the Jenpeg lithium discovery in Manitoba,” Leeuwin Metals managing director Christopher Piggott says.

Critical metals explorer Leeuwin Metals (ASX:LM1) has announced more high-grade results from four holes at its Jenpeg lithium project in Manitoba, Canada, which has been largely unexplored for its lithium potential.

The results from resampling historical drill core confirm the project to be an emerging lithium discovery, the company says.

Multiple, shallow, significant intercepts of spodumene bearing pegmatites, include:

5.14m at 1.75% Li2O from 20.77m, and 14.18m at 1.66% Li2O from 53m (XL-06);
6.62m at 1.18% Li2O from 28.38m, 5.22m at 1.24% Li2O from 39.78m, and 9.65m at 1.20% Li2O from 91.35m (XL-21);
13.87m at 1.17% Li2O from 27.13m (XL-18); and
5m at 1.18% Li2O from 17m, and 21.85m at 0.81% Li2O from 26m (XL-05).

Leeuwin is confident that Jenpeg represents a large-scale opportunity, with the results delineating a “significant” pegmatite swarm, currently defined by historical drilling over 400m of strike – which delivered high-grade lithium intercepts up to 1.40% Li2O – within a 6km prospective corridor defined by channel sampling.

Assays for three additional holes are pending, with results anticipated in the coming weeks.

Highly prospective regional scale system

The company says the results to date indicate the system remains open in all directions, even with limited drill testing having occurred.

“Today’s results confirm the emergence of the Jenpeg lithium discovery in Manitoba,” managing director Christopher Piggott said.

“The assays display significant widths of high-grade lithium mineralisation, highlighting the underexplored nature of this large-scale mineralised system.

“We firmly believe in the compelling opportunities at both prospect and regional scales, offering Leeuwin shareholders the opportunity to be part of one of Canada’s next major lithium discoveries.

“We also extend our gratitude to the Government of Manitoba for their proactive approach and support in encouraging investment in critical minerals exploration, which enabled Leeuwin’s historical core sampling.

“We look forward to regularly keeping the market up to date as we receive results from pending lithium and nickel assays.”

Largest landholder in the Cross Lake Greenstone Belt

Leeuwin remains the single largest landholder within the highly prospective Cross Lake greenstone belt, with the Jenpeg project consisting of 1,405.6km2 granted mineral exploration licences within a larger area of applications covering more than 1,948km2.

The Tanco mine, operated by mining giant Sinomine Resource Group, is currently active in Manitoba, with plans in progress for the development of a downstream lithium hydroxide plant in Manitoba – in collaboration with LG Energy Solutions.

Jenpeg isn’t even Leeuwin’s flagship asset. That’s the nearby William Lake nickel project in the Thompson Nickel Belt, where drilling returned substantial intersections last week:

21.9m @ 1.02% Ni from 206.65m including: 7.35m @ 1.07% Ni from 206.65m and 12.15m @ 1.13% Ni from 216.4m (also including 1.35m @ 5.02% Ni from 227.2m)
4.4m @ 1.55% Ni from 247.1m

For context, most of the world’s famous nickel sulphide fields are around the 1% mark.

Elsewhere in Canada, the company also has the Ignace lithium project in Ontario and in Western Australia, the Marble Bar lithium project and Gascoyne rare earths and lithium project.

Field work kicks off Q3

In addition to the pending assays for three drill holes, the company anticipates commencing field work in Q3 CY2023, with an initial focus on the +6km trend of known spodumene bearing pegmatites at Spodumene Island.

Exploration activities, including rock chip and channel sampling, detailed geological mapping, and multispectral satellite image analysis, will pinpoint drill targets.

These insights will guide ongoing exploration efforts within key areas while supporting regional exploration programs across Leeuwin’s extensive +1,900km2 of tenure.

This article was developed in collaboration with Leeuwin Metals, 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.