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Narryer Metals Makes Headway in Canadian Lithium Exploration

13 February 2024 10:22
ASX: NYM
Narryer

Narryer Metals (ASX:NYM) has announced significant progress in its Canadian lithium exploration efforts, with the identification of spodumene-lepidolite in pegmatites at the Walrus Island Project, located in the prolific lithium district of James Bay, Quebec, following preliminary aerial surveys and a site visit by helicopter.

Walrus Island Update

The discovery of spodumene in pegmatites at Walrus Island is highly encouraging for the Company as it endeavours to confirm the historic reports of the area, thus further enhancing the Projects’ prospectivity.

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Figure 1: Outcropping spodumene bearing pegmatites at Walrus Island

Narryer‘s efforts in validating historical data have not only confirmed its findings but also unveiled promising ground for pegging, which includes a previously documented spodumene occurrence and shares geological similarities with the renowned Walrus Island.

Building on this momentum, Narryer has significantly expanded its tenure at the Walrus Island Project area to approximately 14 square kilometres by securing adjacent prospective vacant ground exhibiting analogous geological characteristics.

During its brief field visit in the 2023 season, the Company identified a notable NNE trending pegmatite, spanning 3 to 10 metres in width and extending over 100 metres, showcasing spodumene, blue-grey lepidolite, and amazonite—a distinctive apple-green K feldspar commonly found in mineralised LCT pegmatites.

Moving forward, Narryer aims to conduct comprehensive sampling and mapping exercises to assess lithium concentrations and the abundance of lithium-bearing minerals within these outcrops, a crucial step in further delineating the Project’s potential.

Northern Ontario Update

Additionally, the Company has advanced its exploration efforts in Northwest Ontario, securing a 90 square kilometre package of mineral claims within the Quetico lithium district, which encompasses the Georgia Lake and Jackpot Lithium Deposits.

Moreover, the identification of the Zircon Lake Lithium Project emerged from a regional lithium targeting exercise conducted in the relatively underexplored Superior Province of the North West Ontario region, known for its high lithium prospectivity and limited prior exploration.

Narryer sees the Project as a natural fit alongside its recently acquired land at Sepawe, expanding the Company’s Canadian lithium portfolio.

With its Canadian lithium Projects now spanning 274 square kilometres across James Bay, Abitibi, and North West Ontario, Narryer holds strategic positions in regions of active lithium exploration and mine development.

Narryer Metals now plans to initiate permitting and stakeholder engagement to facilitate sampling activities during the 2024 field season.

Company Comments

Narryer Metals Managing Director, Dr Gavin England, commented on the exploration updates.

“Narryer Metals see the future of hard rock lithium exploration in the Archaean cratons of northern Canada” he said.

“We are pleased to announce we have secured additional ground at Walrus Island, which contains known spodumene in pegmatites, and hope to begin work in the 2024 field season, once stakeholder engagement and permitting is completed.”

“The Company is also excited with the portfolio of prospective ground generated in NW Ontario, which now includes the new project at Zircon Lake.”

“The Quetico lithium district, which contains the Georgia and Jackpot Lithium Deposits, is an emerging lithium exploration region.”

NYM’s Australian Securities Exchange-listed share price is currently trading at $0.045 (10.15am UTC+ 8 hours).

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