Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Winsome Resources (WR1) identifies “high-grade” lithium in initial assay results from drilling completed at its Cancet lithium project in Quebec
  • The best results include grades of up to 5.6 per cent of lithium oxide among other high-grade intersections, including “significant” tantalum mineralisation
  • The results extend the strike length of known pegmatites from 600 metres to 1200 metres, expanding the project’s potential resource scale
  • As the company awaits further assays, it will focus its efforts on an upcoming field mapping and sampling campaign to test the other targets in the project area
  • Shares in Winsome Resources are down 22.22 per cent to 24 cents each at 1:11 pm AEST

Winsome Resources (WR1) has identified “high-grade” lithium in initial assay results from drilling completed at its Cancet lithium project in Quebec.

The best results from this drilling work included one metre at 5.6 per cent lithium oxide from 36.5 metres and six metres at 1.95 per cent lithium oxide from 36.45 metres.

This was among other shallow high-grade lithium oxide hits, as well as more “significant” tantalum mineralisation in the area.

Winsome said the results extended the strike length of known pegmatites from 600 metres to 1200 metres, expanding the project’s potential resource scale.

Managing Director Chris Evans said he was pleased with the results so far, which revealed high grades of lithium near the surface of the project.

“The results also increase our knowledge of the ore body, with a view to extending the known mineralisation to the east, north and west, keeping us on track to declare a resource in the near term,” Mr Evans said.

Further assays from the drill program are still pending.

In the meantime, the company will direct its efforts on its upcoming field mapping and sampling campaign to test other targets in the project area.

Shares in Winsome Resources have dropped 22.22 per cent to 24 cents each at 1:11 pm AEST.

WR1 by the numbers
More From The Market Herald

" Dateline Resources (ASX:DTR) releases MRE for Colosseum project, California

Shares in Dateline Resources (ASX:DTR) have spiked in early trade after the company released a fresh…

" ResApp (ASX:RAP) receives FDA clearance for SleepCheckRx

ResApp (ASX:RAP) receives 510(k) clearance from the US Food and Drug Administration (FDA) for its at-home…

" Galileo Mining (ASX:GAL) raises $20.4m to expand drilling at Callisto

Galileo Mining (ASX:GAL) raises $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in…
The Market Herald Video

" Strike Energy (ASX:STX) and Talon Energy (ASX:TPD) to commence flow testing at Walyering-6, WA

Joint venture (JV) partners Strike Energy (ASX:STX) and Talon Energy (ASX:TPD) are gearing up to begin…