- Exploration work begins at Lithium Universe’s Apollo lithium project in James Bay
- The company is led by seasoned lithium veterans Iggy Tan (ex Galaxy Resources) and Patrick Scallan (ex Greenbushes)
- LU7 to use artificial intelligence in exploration strategy
- Priority targets for future drilling campaigns identified
Fresh IPO Lithium Universe has launched straight into on-ground exploration work at the Apollo project in Canada’s prolific James Bay region following the completion of early permitting and field preparation.
Lithium Universe’s (ASX:LU7) Apollo project boasts geological and geophysical characteristics similar to well-known spodumene pegmatites in the area such as Patriot Battery Metals’ (ASX:PMT) 109.2Mt Corvette property – just 29km away – and Winsome Resources’ (ASX:WR1) Adina property, another 28km away.
Through regional magnetics, the company has found all three projects to be in the same greenstone belt of the La Grande sub-province situated within the east-central portion of the Superior Geological Province, in the middle of the Canadian Shield.
Given the exceptional results from these neighbouring projects including hits like 1.80% Li2O over 23.4m at WR1’s Adina project, Lithium Universe believes Apollo has the potential to be equally successful.
The company is led by seasoned lithium veteran Iggy Tan, who is well-known as one of the first Australian mining executives to identify the lithium opportunity as head of Galaxy Resources.
The dream team also includes Patrick Scallan, an experienced lithium veteran who successfully managed the world-class Greenbushes mine for over 25 years. Scallan was recently appointed to the Lithium Universe board.
Exploration underway
An exploration crew is currently on-site undertaking fieldwork and soil sampling across the project.
Having only listed about two weeks ago on the ASX, LU7 says this is a tremendous effort.
The company has engaged Laurentia Exploration Inc, a highly reputable exploration company based in Quebec, to carry out the exploration work including site geological assessments, drilling operations, permitting, helicopter access, and overall logistics management.
Clusters of targets, particularly targets that follow topographic trends with a “whaleback” pattern in the digital terrain models, have been prioritised and will be the focus in a future drilling program.
Airborne Magnetic Survey Completed
LU7 completed a 14-day, 5,596 line-Km Hi-Resolution Airborne Magnetic (AMAG) Survey, conducted at a 50m-line spacing by Geo Data Solutions (GDS), a Canadian based Airborne and Helicopter Geophysicist specialist.
Following the Airborne Magnetic Survey, the company utilised property scale geophysics to facilitate a comprehensive structural analysis of the area.
The Company believes the structural geophysics analysis may be indicative of potential for LCT pegmatitic dykes following distinct regional and local scale structural corridors.
It appears that a major east-west trending fault corridor/shear feature is evident that extends from the Apollo project to Winsome Resources Limited’s Adina Lithium project to the east.
Using AI to tap into mineral-rich zones
LU7 is also working with Canada’s KorrAI Technologies to use artificial intelligence to assist in developing its exploration strategy.
This collaboration aims to streamline fieldwork duration, optimise expenditure, and elevate exploration results by harnessing data-driven insights.
KorrAI’s core methodology revolves around employing AI for the interpretation and analysis of satellite data and visual content.
Employing sophisticated algorithms, KorrAI has generated intricate maps delineating diverse geological attributes such as outcrops, pegmatites, and vein configurations.
By integrating spectral data, the identification of promising mineral-rich zones has been facilitated.
This approach guides the efforts of LU7’s field teams, channelling their focus towards locations with heightened potential.
Due diligence complete, results to follow
LU7’s chairman Iggy Tan expressed his satisfaction with the swift presence of the exploration team at Apollo.
“Our Head of Geology, Justin Rivers, and CEO Alex Hanly effectively managed the establishment of partnership connections, including with companies like Laurentia, during the project’s due diligence phase,” Tan explained.
“The initiation of the permitting process, strategically aligned with the relisting timeline, enabled the prompt mobilisation of our exploration crew and diligent foresight and anticipation played a pivotal role in achieving this rapid on-site exploration.
“We look forward to reporting our progress in the coming months.”
This article was developed in collaboration with Lithium Universe, 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.
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