• FIN Resources has found yet more spodumene within its Cancet West Canadian project
  • That comes as plans advance at the highly prospective White Bear target
  • About two weeks ago, FIN was greenlit to start maiden drilling at the site


Special Report: Canadian-focused junior explorer FIN Resources just found another reason to be confident in the White Bear lithium discovery, having stumbled upon another spodumene-bearing outcrop while preparing to drill.

As if Fin Resources (ASX:FIN) wasn’t keen enough already to get the drills spinning at White Bear, it’s only gone and found more spodumene during preparations.

While clearing access for drilling equipment for the maiden program at White Bear tenement, which is part of the Cancet West project in Quebec, geological experts from contractor Mertacor have located a pegmatite outcrop hosting large spodumene crystals (see pics further below).

The ~80km2 Cancet West operation is just 45km from Winsome Resources’ (WR1:ASX) Cancet project and 100km from Patriot Battery Metals’ (PMT:ASX) huge Corvette lithium deposits.

Exploration carried out by FIN Resources in October 2023 led to the discovery of White Bear with sampling returning both high grades of Li2O and pathfinder elements, along with low potassium-to-rubidium (K/Rb) ratios and elevated caesium (Cs).

Since the initial discovery, assaying of channel sampled outcrops has continued to prove the presence of lithium, returning results such as 1m at 2.39% Li2O, 1m at 2.16% Li2O and 1m at 1.23% Li2O.


The new find

A portable LIBS (laser induced breakdown spectroscopy) device was used to confirm the presence of the additional lithium find, although the grade is obviously not yet determined.

That will have to wait for sampling of the outcrop, and those results will be reported as soon as they come in, notes the company.

Fin Resources (ASX:FIN)
A Mercator geologist in front of the newly discovered spodumene-bearing pegmatite outcrop at White Bear. Source: FIN Resources

Director Jason Bontempo said:

“Finding another  spodumene-bearing  pegmatite whilst clearing access for the drilling program is impressive and validates the company’s entry into this region.”

The interpreted pegmatite trends at White Bear appear to be associated with the ~10-15km strike length of the Archean-aged Lac Guyer greenstone belt.

That’s an extensive target that has WR1 and PMT’s focus yet remains to be extensively explored.

Fin Resources (ASX:FIN)
Spodumene crystal up to 1.46m in length. Source: FIN Resources


Meanwhile, the troops are mobilising

Preparations for the fully funded maiden diamond drilling of roughly 5,000m at White Bear are gearing up two weeks on from FIN receiving its final approvals to get cracking at the tenement.

The initial drill phase will encompass some 1,500m and at present, geological, drilling and helicopter contractors are all mobilising to the site.

Liaisons with local indigenous Cree communities are taking place while drill pads are being prepared.

The program is designed to test a coarse spodumene-bearing lithium mineralised zone, identified over ground approximately 300m strike by 100m at its widest, comprising at least five pegmatite outcrops within the White Bear tenement.

Previous rock chip samples from the area include a 6.85% Li2O sample and a 6.50% Li2O sample.

High grade stuff.



This article was developed in collaboration with FIN Resources, 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.