Recharge gets started at Express lithium project following acquisition
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Recharge has begun initial exploration after wrapping up its acquisition of the Express project in the heart of Quebec’s James Bay region, which is becoming a major lithium district.
Work is currently focused on identifying pegmatites at the 73.5km2 project ahead of a helicopter-assisted field program.
Recharge Metals (ASX:REC) is understandably keen to push ahead with its new direction as a lithium explorer as Express is not only just 12km southeast of Allkem’s James Bay Deposit (37.2Mt at 1.3% Li2O) and 15km northeast of Cygnus Metals’ Pontax lithium project, it was also pegged out by DG Resource Management – better known for identifying the eye-popping Corvette discovery.
Not only does this make for some serious pedigree, it also highlights the lithium prospectivity of the region.
“Following shareholder approval at last week’s GM, we are delighted to have concluded the acquisition of the Express Lithium Project. Our immediate focus is now on the planned exploration program at Express with oversight from Dahrouge Geological,” managing director Felicity Repacholi-Muir said.
“The James Bay lithium region recently saw its first commercial lithium production, giving strong proof of concept for the potential of the area.
“We are excited to now start exploring our highly prospective tenements as the first step to creating significant investor value, like our successful neighbours.”
Besides its proximity to some major lithium projects, Express also has access to excellent infrastructure, sealed road access and hydropower.
It lies on the margin of the granitic basement which bounds the Eastmain Greenstone Belt hosting the James Bay deposit to the north and the Chambois Greenstone Belt to the south which hosts the Pontax lithium project.
However, no material lithium exploration work has been carried out on the area despite the presence of numerous pegmatite occurrences and the Quebec Ministry of Natural Resources and Forestry declaring the area to be an “underexplored unit that has been very poorly sampled … despite its recognised lithium potential”.
Recharge is fully funded for its exploration activities at Express following the completion of a $3m placement.
This article was developed in collaboration with Recharge 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.