Blaze Minerals have kicked off exploration at its North Spirit Lithium Project in Ontario, with the Company’s team of geologists and field support mobilised to the site for the Company’s first exploration program at the recently acquired tenure.
Chasing Canadian Lithium
The exploration program is designed to explore the Project’s initial zone of interest within a prominent greenstone-granite contact occurring along the Bear Head deformation zone, which is believed to be an important factor in the formation of lithium-bearing pegmatites within this area.
This initial program will comprise sampling and mapping of targeted two mica granites and several pegmatites identified by compelling anomalous geochemical samples returned from the Ontario Geological Survey, with samples taken from the mica granites comparing favourably to similar results from Frontier Lithium’s 7.2 Mt @ 1.8% Li2O Pak deposit located 30k along strike.
In addition, the program will also work to uncover further pegmatite bodies at the Project for follow-up work in the future, including channel sampling and mapping efforts.
Exploration efforts will be led by Blaze’s Canadian partners Exiro Minerals Corp, from who the Company initially acquired the tenement package, giving them proven experience in conducting field activities within the Project area.
It has been just over two months since the explorer chose to step into Canada’s growing lithium scene, but the Company has already demonstrated its immense faith in the Project, moving to expand the Project’s tenue to 36,510 hectares after acquiring an additional 2,550 hectares of lithium prospecting land adjoining the Project.
Blaze is one of many explorers looking to tap into Canada’s growing lithium pedigree, with Sultan Resources finalising the acquisition of a similar tenue in the same region proximal to Frontier Lithium’s holdings on the same day Blaze first stepped into the region.
And it appears that investors responded well to the acquisition, with Blaze’s share price soaring 130 per cent on the back of the announcement.
The Project has recently been visited by the company’s Managing Director Simon Coxhell and its Corporate Director Mathew Walker, who came to the site to meet the team and review the program.
“It has been a successful visit where we spent time with the Exiro team and gained a better understanding of the project prospectivity. We are pleased with how geologically prospective the belt is and have a better appreciation for how unexplored the tenement package is,” Coxhell said.
“We are excited that the field program has commenced and the Company looks forward to updating shareholders as exploration activities progress and analytical results are available”.
BLZ’s Australian Stock Exchange-listed share price has risen 6.66 per cent today, currently selling at 1.6c (1:01 pm UTC+ 8 hours).