Canadian lithium explorer Arbor Metals Corp. (TSX-V: ABR) (FWB: 432) has discovered a series of new pegmatite outcrops at its 3,759-hectare lithium project in Quebec’s James Bay region and is very pleased with the discoveries.
The Vancouver-based company announced the findings from its Jarnet lithium project on Monday and says that its exploration team will be allocating significant time and resources to examining and sampling the rocks to determine their value.
Arbor says that it will utilize a state-of-the-art laser-induced breakdown spectroscopy laser spectrometer to determine precise drill targets within the outcrops.
“We are incredibly excited about identifying these pegmatite outcrops in our Jarnet project. This development holds the potential to significantly impact both our current exploration program and the overall prospects of the Jarnet lithium project,” said Mark Ferguson, President and CEO of the company.
The Jarnet project is comprised of 47 mining claims and is located adjacent to the Corvette property owned and operated by Patriot Battery Metals Inc. (CSE: PMET) (OTCQB: PMETF), which Arbor says is one of the highest-profile projects in the sector.
Arbor resumed its activities at Jarnet on September 3 following a temporary suspension due to wildfires. The company’s shares dropped by 5.74 per cent Monday to $2.79 on the TSX Venture Exchange.
The St. James Lithium Camp where the Jarnet project is situated recently received a $109 million investment from the world’s top lithium producer Albemarle Corporation (NYSE: ALB).
Arbor Metals also operates the Millers Crossing lithium project in Nevada, which is located to the north of Albemarle’s Silver Peak lithium mine.
As of April, there were 409 active lithium projects in Canada and as of 2021, the country held approximately 3 per cent of the world’s lithium reserves. As the demand for the metal continues to rise many Canadian companies have been successfully developing different projects abroad as well.
Lithium South Development Corporation (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) is another Vancouver-based explorer that has been making significant progress with its international operations in recent days. Lithium South recently expanded the lithium brine resources at its Hombre Muerto North project in Argentina by an astounding 175 per cent and commenced a new drilling program at the site.
“With confirmation of our new 1.58 million tonne lithium resource, Lithium South is now moving from a lithium explorer to a lithium developer,” said Lithium South’s Founder and CEO Adrian Hobkirk.
Lithium South shares rose by 8.24 per cent Monday to $0.46 on the TSX Venture Exchange.
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