Power Metal Resources plc said that strong lithium prices and neighbouring mining success had prompted it to continue its earn-in agreement for 100% of the Authier North and Duval East lithium properties in the prolific Val D’Or, Quebec, Canada.
PROPERTIES
In July 2021, the company’s local subsidiary Power Metal Resources Canada Ltd signed the earn-in agreement with Eagle Ridge Mining Ltd.
Authier North consists of 15 mineral claims covering approximately 560-hectares and is prospective for lithium-bearing pegmatites and base-metal mineralisation.
Duval East lies 3km east of the Authier North property and is immediately east of a historical, non-compliant Duval lithium oxide resource.
SAYONA MINING
On 1 March 2022, neighbouring Sayona Mining doubled their Quebec lithium resource base, and revised their mineral resource estimate of 17,136,000 tonnes at 1.01% Li20.
The new model includes the further downdip extension towards Power Metal’s Authier North property, and outcrop closer to the shared claim border with Authier North.
Power Metal’s evaluation of the property has also highlighted a priority target area on Authier North not investigated during its 2021 programme.
The company will map the target before deciding next exploration steps for the property.
EXPLORATION
“Power Metal’s Authier North and Duval East lithium properties represent a strategic lithium interest for the company with a footprint adjacent to the highly successful Authier project held and operated by Sayona Mining,” said chief executive Paul Johnson.
“Our work has identified priority lithium targets and we intend to continue our ground exploration work at the properties in the near future.”