Resource Base may have just acquired the Wali lithium project six weeks ago, but it certainly isn’t taking things easy with a number of high priority targets already up on the board.

Detailed airborne magnetic surveying identified the targets as significant magnetic breaks that were supported by previously known pegmatite occurrences noted on SIGEOM – Quebec’s online mining information system.

This new magnetic data also highlighted new anomalies to be followed up for potential lithium-bearing pegmatite intrusions.

Resource Base (ASX:RBX) added that the known lithium prospective greenstone boundary has been refined and extended by the new detailed magnetic data and that the northeast running structures abutting the greenstone and granite contact have revealed compelling targets.

“It’s very exciting to have received the high-quality resolution results from the airborne surveys at Wali within 6 weeks of completing the acquisition of our James Bay assets,” executive director Brent Palmer said.

“The significant magnetic breaks observed, have earmarked an abundance of high-priority targets and encouragingly, the prospective structures of note revealed by the survey, are known areas of interest to the Company.”

Wali lithium project

The company acquired Wali and the Ernst Lake projects in Quebec’s emerging James Bay lithium province in May this year.

Notably, Wali is located just 16km east of Patriot Battery Metals’ (ASX:PMT) landholding while Ernst Lake is 13km south of Winsome Resources’ (ASX:WR1) tenements.

Wali covers 100 mineral claims, or 51.12km2, and the greenstone belt (Guyer Formation)within the project is interpreted to be a ‘dismembered’ section of the same Guyer Formation belt that hosts Patriot’s CV5 discovery.

Both greenstone belts occur at the contact between the intrusive tonalite to the south and granodiorite to the north, which may be the source granites for the unusually large lithium-caesium-tantalum (LCT) pegmatites in the area.

Ernst Lake covers an area of 109 mineral claims (56.31km2) and the Trieste Formation greenstone belt within the project is interpreted to be the south section of the same Trieste Formation belt that hosts Winsomes’ Adina discovery.

The company’s designated exploration team will be on the ground imminently and will benefit from shared costs for accommodation and a helicopter to extensively explore its tenements over a three month period.




This article was developed in collaboration with Resource Base, 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.