Leeuwin Metals

Additional High-Grade Lithium Drill Assays Received from the Cross Lake Lithium Project

Critical metals explorer Leeuwin Metals Ltd (Leeuwin or the Company) (ASX: LM1) is pleased to announce further high-grade results from three holes at our 100% owned Cross Lake Lithium project (Cross Lake or the Project) in Manitoba, Canada.


HIGHLIGHTS

  • Leeuwin is pleased to announce assays received for a further three drill holes, with significant widths of high-grade lithium mineralisation present in all holes.
  • Multiple, shallow, significant intercepts, of spodumene bearing pegmatites include:
    • XL-17: 24.96m @ 1.09% Li2O from 6m; & 9.79m @ 1.18% Li2O from 75.55m.
    • XL-19:7.21m @ 1.94% Li2O from 19m.
    • XL-4:4.73m @ 1.78% Li2O from 45.27m.
  • The results delineate a significant pegmatite swarm, currently defined by historical drilling over 400m’s of strike within a 6km prospective corridor.
  • A drill permit application has been submitted, with the aim to commence drilling in the first half of 2024.
  • Samples from the recently completed field work have been submitted, with results expected during the March quarter of 2024.
  • Significant prospect and regional scale upside remain within the Cross Lake Lithium Project with a land position of +2,000 km2.

Managing Director, Christopher Piggott, commented:

“Building on our successful re-assay of historical drill holes for lithium, today’s findings reinforce the presence of high-grade lithium and contribute to the substantial scale and potential of the Cross Lake Project.

Despite the fact that the region remains under explored, promising indications of a large-scale mineralised system have been observed in the field. The high-grade lithium assays from the historical resampling program have significantly enhanced the project’s value, making it a top priority for the Company leading in to 2024.

Geographically, Manitoba is centrally located in North America, providing significant benefits to the project, this includes its close proximity to major railway, hydro power, and year-round road access.

Leeuwin is well-capitalised to advance into the next phase of exploration, and the Company looks forward to providing regular updates to the market as we advance our activities.”

Cross Lake represents a large-scale opportunity, featuring mapped pegmatite swarms extending over 6km of strike. To date, this vast region has remained largely unexplored despite its lithium potential.

High-Grade Lithium Results

The results detailed in this release, taken from recent sampling of three historic drill holes, are extremely positive and confirm the Project as an emerging lithium discovery. A total of nine holes have been assayed, all of which have shown significant widths and grades of lithium mineralisation. These results indicate that the system remains open in all directions, even with the limited drill testing that has occurred to date (for full exploration results, please refer to Appendix B).


Click here for the full ASX Release

This article includes content from Leeuwin Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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