FE Battery Metals Corp. (CSE: FE) (OTCQB: FEMFF) (WKN: A2JC89) found significant results from its exploration efforts at its Augustus Lithium property in Quebec.
On Wednesday, the Vancouver-based lithium miner revealed lithium oxide concentrations of 0.30-1.43 per cent. The property is located next to the North American lithium mine which is Canada’s largest lithium mine.
The findings were located in widespread lithium-bearing pegmatites on the surface and drill efforts show they remain open at depth and along a strike length of 5.5 kilometers. So far, the company has done around 14,000 meters of diamond drilling across 79 NQ holes and focus has been given to pegmatite bodies.
However, with this discovery, the company wants to explore economic lithium oxide concentrations that have also been seen in the host rocks of the pegmatite bodies.
Read more: FE Battery Metals finds lithium in unexplored area in Quebec property
Read more: FE Battery Metals drill results show high grade lithium oxide in Quebec
Geological analysis has identified biotite schist and amphibolites within the basement rock formations as key sources of high lithium concentrations, particularly near the contact points with pegmatite bodies. This suggests that specific rock types contain significant lithium deposits, especially in proximity to pegmatites.
Additionally, a strong correlation has been observed between elevated lithium (Li), cesium (Cs), and rubidium (Rb) levels and increased nickel and chromium values. This implies that hydrothermal fluids may have influenced the concentration of these valuable elements in the rock formations.
Ongoing efforts involve comprehensive 3-D modelling of drill data, with a focus on integrating basement rock data. Furthermore, meticulous field geological mapping and sampling are planned to gain deeper insights into the contact zone between pegmatite bodies and basement rocks, enhancing overall geological understanding.
“Augustus has exceeded our expectations at every phase of exploration. We are particularly enthused by the elevated lithium, cesium, and rubidium values noted within the host basement rocks, which has the potential to reshape our exploration strategy,” FE Battery Metals CEO Fuminder Sangha said in a statement.
Company stock dropped by 4 per cent on Wednesday to $0.48 on the Canadian Securities Exchange.
Natalia@mugglehead.com
