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Pinnacle Minerals Expands its Canadian Lithium Footprint

25 October 2023 11:09

Pinnacle Minerals (ASX:PIM) has advanced its transition to a battery metals explorer by applying for the Lac Rug and Lac Bignibi Lithium Projects, covering 271.2 square kilometres in the mineral-rich Abitibi Greenstone Belt, Quebec, Canada.

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Figure 1: Abitibi Province highlighting Lac Rug and Lac Bigniba Project locations.

The Lac Rug Project

Comprising 205 claims covering an expansive 116.5 square kilometres, the Lac Rug Project is strategically situated over a 10-kilometre stretch of the greenstone belt.

This area, centred around a predominantly east-west trending greenstone belt and intersecting the Chicobi Deformation Zone, holds substantial promise for lithium, zinc, and gold mineralisation, boasting a multitude of mapped pegmatites across the project expanse.

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Figure 2: Lac Rug Project with identified pegmatite and lithium targets

The Lac Bigniba Project

The Lac Bigniba Project encompasses 282 claims across 154.7 square kilometres and is adjacent to the Laberge Deformation Zone, which is being targeted as an important setting for pegmatite mineralisation.

The Project is strategically located 12 kilometres west of the Geant Dormant Gold Mine, which has recorded 421,600 Oz at 8.08g/t gold. It is also located in a favourable location within the Northern Volcanic Zone (NVZ) of the Abitibi Greenstone Belt, Superior Province.

The area is virtually unexplored but offers significant potential for gold, nickel, copper, cobalt, and PGE mineralisation with lithium rich pegmatite emplacement.

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Figure 3: Lac Bigniba Project highlighting regional geology

Pinnacles Strategic Position

Satellite and radar analysis of the Projects have identified several targets which Pinnacle plans to examine in upcoming drilling exploration.

Of particular interest is the trend of pegmatite outcrops identified by the Quebec Government database SIGEOM, which run southwest / northeast across the lower half of the Lac Rug Project area, evident in Figure 2.

This trend additionally contains multiple SAR targets with-in it and is the priority area which Pinnacle will follow up on in its November campaign.

In addition to the favourable geology of the tenements, they are also readily accessible year-round via well-maintained roads, and only located within 30 kilometres of the regional town of Lebel-sur-Quévillon which is serviced by a registered aerodrome and railway.

Pinnacles Canadian Success

Through adding these projects to its exploration portfolio, Pinnacle now holds 344 square kilometres of claims in two highly prospective lithium exploration regions of Quebec.

The Company’s other holdings are located in the prolific James Bay region, and synonymous with Winsome’s (ASX:WR1) Adina Project (1.34% Li2O over 107.6m) and Patriot Battery Metals (ASX:PMT) Corvette Project (109.2Mt at 1.42% Li2O).

It was only earlier this month that Pinnacle announced its acquisition of the Adina East Project, securing a 75 percent stake in the Project situated in Quebec’s James Bay lithium district, marking a crucial step forward in its transition to a battery metals explorer.

Pinnacle now shifts its focus towards advancing the Projects, with plans for field mapping and rock chip sampling scheduled for mid to late November.

The Company has outlined it will conduct this exploration program with IOS Services Géoscientifiques, a renowned Quebec based geological consulting and contracting service provider.

Managing Director Nic Matich on the News

Pinnacle Minerals Managing Director Nic Matich said that the Company’s transition to a battery metals explorer is progressing rapidly.

“Pinnacle has added 271.2 square kilometres of prospective lithium and gold claims, which notably cover 10km of fertile greenstones, and covering two deformation zones (known for their mineral endowment) plus contain pegmatite outcrops along trend from a known spodumene outcrop,” he said.

“The ability to stake these quality Projects in a tier 1 jurisdiction is in our opinion unparalleled anywhere else in the world.”

PIM’s Australian Stock Exchange-listed share price has risen 18% and is currently trading at $0.147 (11:00am UTC+ 8 hours).

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