Recharge Metals is moving into Quebec’s hottest lithium address
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Recharge Metals is pivoting towards lithium exploration with its acquisition of intriguing Express project in the heart of Quebec’s James Bay region – an emerging lithium district.
The large-scale project, which covers 73.5km2, has reported outcropping pegmatites and is interpreted to be within a spodumene-bearing pegmatite trend that hosts the high-grade James Bay Deposit and Pontax Lithium Project.
However, the real attention grabber might be that Express lithium project vendor DG Resource Management was also responsible for identifying, acquiring and selling the eye-popping Corvette discovery to Patriot Battery Metals.
Recharge Metals’ (ASX:REC) newly appointed Managing Director Felicity Repacholi-Muir noted that the project was located in the heart of James Bay – an emerging world-class lithium province – and is surrounded by significant lithium resources and discoveries.
“We look forward to unlocking the lithium potential at Express with the expertise and input of highly respected Dahrouge Geological Consulting team, who importantly are based in the region,” she added.
Dahrouge vice president exploration Jody Dahrouge added that the project hosts numerous poorly documented pegmatites that require follow up exploration to determine which are most favourable for spodumene mineralisation.
The Express project consists of 139 wholly-owned mineral claims over two contiguous claim blocks.
It is surrounded by significantly advanced lithium projects such as the Allkem’s 37.2Mt at 1.3% Li2O James Bay deposit about 12km to the northwest and Cygnus Metals’ Pontax lithium project approximately 15km to the southwest.
Express also has access to excellent infrastructure, sealed road access and hydropower.
It lies on the margin of 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.
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 paying DG Resource Management C$250,000 in cash, 22.5 million shares, 6,187,500 options exercisable at $0.20 each and expiring three years from the date of issue as well as 22.5 million performance rights that will vest into shares when certain milestones are met.
The company intends to acquire LiDAR, high resolution aerial imagery and magnetics to assist with defining target areas ahead of a summer field campaign.
This latter program will include detailed geological mapping and sampling before the company carries out diamond drilling on key lithium targets identified from the mapping and geochemical sampling.
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.