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Winsome Resources CEO Chris Evans: Sustainable Hard-rock Lithium Opportunities in Quebec Investor Kit
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Winsome Further Expands Lithium Exploration Footprint in Quebec
Highlights:
- Exclusive option agreement executed for Winsome to acquire and explore a further 259 claims, totalling 149 km2 in the highly sought after greater Decelles region of Quebec, Canada
- Option agreement expands Winsome’s lithium exploration footprint in Quebec, enlarging Company’s recently acquired Decelles claim area by nearly 40%
- This expanded area, known as Mazérac, is located around the Decelles Reservoir, about 50km southwest of Val-d’Or and easily accessible by a network of forestry roads
- The region has seen much recent staking and prospecting activity, including highgrade spodumene discoveries by Vision Lithium at their nearby Cadillac property1
- Enlarged property holding is highly complementary to Company’s 100% owned, existing projects in the James Bay region – Cancet, Adina and Sirmac-Clapier
The Company has entered into an exclusive option agreement to acquire 258 claims from Mr Glenn Griesbach and one claim from Mr de Keyser, totalling 149km2 in the prospective Mazérac region of Quebec, Canada. This is within the greater Decelles area, where the Company also acquired new property in January 20222 .
Mazérac is located close to the mining centres of Val-d’Or and Rouyn-Noranda, approximately 600km from Montreal. The Company has signed an exclusive option agreement to explore and subsequently acquire the claims over a 24-month period.
Mr Griesbach is a Canadian-certified geologist with more than 40 years of mineral exploration experience across Canada, Africa, China, and Southeast Asia. Mr de Keyser is a seasoned local prospector of First Nation heritage, with a strong understanding of the Mazérac region.
By entering into this agreement, the Company further expands its land holding in Quebec, exploring a new area of the province known for granitic and pegmatitic outcrops. The area is located close to infrastructure and the major mining centres immediately adjacent to recent lithium discoveries1 (see Figure 1 map)
Managing Director Chris Evans said:
“We are delighted to have entered into the option agreement for a further 259 claims at Mazérac in the Decelles region. There has been a considerable amount of recent lithium focused activity in the surrounding region, with several public and private companies making successful discoveries.
“By acquiring this project, we significantly increase the Company’s prospective lithium landholding in Quebec and continue towards achieving our vision of supplying high grade lithium products into the North American battery supply chain.”
Transaction details
Winsome has entered into an exclusive option agreement to acquire 259 claims from Mr Griesbach under the following broad terms:
- An upfront fee of AUD$75,000, paid in WR1 shares
- AUD $250,000 paid in three tranches of WR1 shares, based on the five-day VWAP from last week’s trading (AUS $0.47). This will equate to:
- 177,000 WR1 shares issued now
- 177,000 WR1 shares issued on 3 May 2023
- 177,000 WR1 shares issued on 3 May 2024
- A 2% Net Smelter Royalty (NSR) over the properties which can be reduced to 1% at any time for a consideration of AUD $1,000,000
Once the final payment of 175,000 WR1 shares is made on 3 May 2024, the 259 claims will transfer to Winsome’s Canadian subsidiary.
The Company also has the ability to accelerate the acquisition at any point within the next 24 months and have the claims transferred immediately by issuing all shares due to Mr Griesbach.
As a separate transaction, the Company paid Mr de Keyser CAD $20,000 to acquire outright the ‘Nippy Hill’ claim which is contiguous to the other Mazérac claims described above.
Click here for the full ASX Release
This article includes content from Winsome Resources Limited, 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.
Quarterly Report for Period Ending 31 March 2022
Quarter Highlights
Exploration- Entered into exclusive option agreement to explore and acquire 669 claims in the highly prospective Decelles Region
- Sourced drill rig, planned combined infill/extension drilling campaign at Cancet
- Commenced 2,100m program in mid-March 2022 at Cancet
- Commenced gravity survey at Cancet
- Made contact with First Nations Cree people and discussed details of Winsome exploration at Cancet. Meeting planned for PDAC conference in June
- Meeting with representatives of the Northern Quebec Regional Directorate for the Department of Energy and Natural Resources to discuss project details
Health and Safety
- In excess of 3,500 hours worked on site at Cancet as part of the drilling and survey, with no lost time or safety incidents
- All contractors and staff remained COVID safe throughout winter exploration activities
Corporate
- Commenced trading on Frankfurt Exchange under code 4XJ
- Application submitted to trade on New York’s OTCQB
- Launched unmarketable parcel facility to reduce administrative costs associated with shareholdings of less than AU$500 in value
- Attendance at Mines and Money& Battery Materials conference
- Discussions held with potential strategic partners
- Acquired new equipment and facilities including skidoo, company truck, base of operations in Rouyn-Noranda, Quebec
- New office secured, located with corporate/IR advisors to reduce overhead costs and enhance synergies by working in the same location
EXPLORATION ACTIVITIES
Decelles Acquisition
Immediately after listing, Winsome formed a partnership with Glenn Greisbach, a Quebec regional geology specialist, to expand its land portfolio by discovering and acquiring new properties in Quebec with a high degree of lithium potential.
This led to Winsome entering into an exclusive option agreement in late January 2022 to acquire 669 claims, totalling 385km2, in the prospective Decelles region of Quebec, Canada. Decelles is located close to the mining centres of Val-dÓr and RouynNoranda, approximately 600km from Montreal. The Company signed an exclusive option agreement to explore and subsequently acquire the claims over a 24-month period.
By entering into this agreement, the Company can more than double its land holding in Quebec and explore a new area of the province known for granitic and pegmatitic outcrops, located close to infrastructure and the major mining centres immediately adjacent to recent lithium discoveries (see Figure 1).
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This article includes content from Winsome Resources Limited , 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.
Advanced High-Grade Antimony & Silver Project Aquisition
Highlights
- High-grade Montezuma antimony-silver-lead deposit defined by surface channel sampling, exploration adit face sampling and diamond drill core sampling.
- Surface grab samples grade up to 24.5% antimony (Sb) & 3,050 g/t silver (Ag)
- Diamond drill core samples grade up to 20.3% antimony (Sb) & 1,990g/t silver (Ag)
- Development face samples grade up to 21.4% antimony (Sb) & 2,478g/t silver (Ag)
- Development of portal box cut and commencement of exploration drive has produced stockpiled mineralisation. Representative bulk sampling of combined mineralisation/waste averaged 4.75% antimony (Sb) & 239 g/t silver (Ag) and representative bulk sampling of mineralisation only, averaged 9.02% antimony (Sb) & 769 g/t silver (Ag) reconciling well with corresponding face sampling.
- Metallurgical test work is well advanced with 90% recoveries of antimony achieved producing a saleable antimony product.
- R&D funding discussions are ongoing with local and international institutions including those representing major western governments.
- Montezuma Antimony Project acquisition complements Lode’s antimony exploration portfolio in the New England Fold Belt, NSW’s most prolific antimony province. Together, these assets create a formidable Antimony division within Lode.
- Also compliments Lode's high-grade Silver portfolio with assays due shortly from the Webbs Consol Silver project where drilling at the Castlereagh prospect has been completed.
- Montezuma Antimony Project acquisition terms include:
- $50,000 non-refundable cash deposit payable within 2 business of execution of the HOAie 22 October 2024; plus
- $200,000 cash payable on completion of the Proposed Acquisition; plus
- 10,000,000 fully paid ordinary shares in the Company at a deemed issue price of $0.10per share on completion of the Proposed Acquisition subject to 12-month escrow; plus
- Up to 6,000,000 fully paid ordinary shares in the Company at a deemed issue price of $0.10 per share upon satisfaction of certain performance hurdles by the Sellers (key terms are outlined in Annexure 1) and subject to 12-month escrow.
- The fully paid ordinary shares will be issued under listing rule 7.1 using the Company's existing capacity.
Proposal to Acquire Montezuma Antimony Project
The Montezuma Antimony Project includes a high-grade antimony-silver-lead deposit with initial development, advanced metallurgical test work and significant beneficiation infrastructure.
Montezuma Antimony Project Deposit
The Montezuma Antimony Project deposit (2M-2023, EL7-2019) is located between well-known mining centres such as Rosebery (Zn,Cu,Pb), Renison Bell (Sn), Henty (Au) and Zeehan(Pb,Ag). Access is via the Zeehan township located 14km to the west.
Figure 5. Montezuma Antimony Project located in Tasmanian’s premier West Coast Mining Province
The Montezuma antimony-silver-lead deposit is a structurally controlled lode, emplaced primarily within the well-known Motezuma fault and hosted by a sequence of turbidites. Antimony and lead are contained within Jamesonite, a lead-iron-antimony sulphide mineral (Pb4FeSb6S14) and is a late-stage hydrothermal mineral forming at moderate to low temperatures. This project is also prospective for copper, zinc and gold.
The Montezuma antimony-silver-lead deposit is defined by surface sampling of the exposed mineralised structure over 50m strike length, development face sampling and 13 diamond drill holes which have intercepted high-grade mineralisation down to a depth of 80m. The Montezuma antimony-silver-lead deposit remains open to the north, south and at depth.
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This article includes content from Lode Resources Limited, 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.
$500,000 Raised for Uranium Exploration at Munaballya Well Target
- Augustus Minerals has raised over $500,000 via a Placement.
- Proceeds from the capital raising will fund:
- On-ground exploration at the large Munaballya Well uranium target following up the recent VTEM Heli airborne geophysics program.
- An expanded soils/rock chip program to progress newly identified rock chip prospects to drill ready status and continue the exploration over as yet untested areas.
- Exploration works are continuing over various targets along the highly prospective Ti- Tree Shear with diamond drilling in progress at the Minne Springs Copper- Molybdenum porphyry prospect.
Under the placement, AUG will issue 10,000,000 fully paid ordinary shares (Shares) at an issue price of $0.05 per Share.
Funds raised through the Placement will be used primarily for the following:
- On-ground exploration at the large Munaballya Well uranium target following up the recent VTEM Heli airborne geophysics program (final interpretation imminent).
- An expanded soils/rock chip program to progress newly identified rock chip prospects to drill ready status and continue the exploration over as yet untested areas.
- Heritage survey over newly defined areas once progressed to drilling status,
- Working capital and costs of the Placement.
The Munaballya Well (GSWA listed uranium occurrence) main basin U anomaly covers 4km x 0.7km area, with uranium concentrated in weathered dolomitic marls of Carnarvon Basin sediments. Figure 1 shows the area of the main uranium channel anomaly from an open file ground radiometric survey conducted by Thundelarra Uranium, as carnotite is concentrated in top 5-10m of weathered dolomitic layers.
VTEM survey is testing for near surface weathering of surficial zones as well as investigating the potential for deeper Unconformity Style mineralisation along the contact between the basement granites and metamorphics and the Carnarvon Basin sediments.
Figure 1 Aster, ground radiometrics and Airborne Radiometric images from WAMEX Open File Report a87139 Thundelarra Exploration 2010.
The Placement Shares will be issued utilising the Company’s existing Listing Rule 7.1 capacity.
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This article includes content from Augustus Minerals, 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.
Justinian Cu-Au Prospect Extended Over 3km with 5.3g/t Au and Cu to 16%
Augustus Minerals has received new assays from ongoing soil sampling and rock chip sampling programs conducted on the Justinian prospect and adjacent areas at the Ti- Tree Project, in Western Australia
- High grade rock chips assaying up to 16% copper and up to 5.32g/t gold have been identified from field work over a 3.3 x 1.1km area
- The copper and gold identified in rock chips supports the anomalous soil sampling results from the recent regional survey.
- The soil and rock chip results define areas of Cu and Au anomalism related to splays of the Ti-Tree Shear wrapping around the Crawford Granite.
- Other anomalous soils have identified areas for further mapping and rock chip sampling north and west of Crawford Bore, and west of Coo Creek Broken Hill Style target.
- Elevated copper and lead in soils identified on a NE trending shear at Howell’s Gap
- Strong base metal anomalism over the Moogooree carbonate hosted Zn-Pb target.
Mapping and field work is continuing to increase the definition and tenor of anomalies to drill targets for future programs.
The soil samples, sieved in the field to pass -80#, were scanned by Portable Spectral Services (PSS) at their West Perth office under controlled conditions. In the western Ti-Tree area, above background levels of Cu, Pb and Zn were returned which defined adjacent or frequently coincident trends (Figure 2). Figure 3 shows Cu-in-soils and copper in rock chips. The validity of the soil anomalies was validated by some overlap between historic sampling using traditional wet assay methods and the new pXRF data.
Gold-in-soils was determined by 50g Fire Assay at Intertek’s Perth laboratory.
Figure 1 Prospects and VTEM Survey areas
Table 1 Significant Rock Chips Justinian (>0.1% Cu, 0.1g/t Au or 0.1% Pb).
Justinian Prospect
Review of soil sampling data from the regional soil program has identified several new targets and/or extensions to existing prospects.
Previous rock chip sampling1 identified gold to 10.1g/t at Justinian (Figures 1 and 2). Further rock chips within the soil anomaly have returned assays to 5.32g/t Au (WA001301) and 16% Cu (WA001310) (Table 1).
Justinian also shows anomalous levels of lead and zinc (Figure 2).
The mineralisation is dominantly hosted within the Leake Springs Metamorphics, a complex package of pelitic schist and fine-grained often garnet rich psammite.
Figures 3 and 4 show Au and Cu respectively in soil (pXRF results) and rock chips (four acid digest or aqua regia digest) at the Justinian prospect. The validity of the soil anomalies was validated by some overlap between historic sampling using traditional wet assay methods and the new pXRF data.
The Justinian prospect has been extended to cover a 3.2km x 1.1km area containing several distinct soil anomalies which appear to be coincident with diffracted splays of the Ti-Tree Shear around the Crawford Granite intrusions. It is possible that the diffraction around the more rigid granite bodies is causing dilation where the Ti-Tree Shear splays penetrate the host Leake Springs Metamorphics.
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This article includes content from Augustus Minerals, 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.
Prospective IOCG Target Identified at the Coober Pedy Copper Project, SA
- Magnetic and gravity responses highlight the potential for IOCG mineralisation.
- Limited historical drilling data provides evidence for an alteration footprint.
- Project located at northern end of the world-class Olympic Dam IOCG Province.
AusQuest’s Managing Director, Graeme Drew, said the Company was encouraged by the results of the survey, which confirmed the potential for large-scale copper-gold discoveries within a Tier-1 mineral province.
“The recent gravity survey has provided support for the occurrence of IOCG-style mineralisation within our Coober Pedy Project, which is located at the northern end of a world-class IOCG Province which already hosts several major copper-(gold) deposits, including Olympic Dam, Carrapateena and Prominent Hill, as shown in Figure 1,” he said.
Figure 1: Coober Pedy Project Location Plan showing major deposits in the area.
A detailed gravity survey was completed by Daishsat Geodetic Surveyors (400m x 100m grid with selected in-fill lines at 200m) outlining possible targets for drilling. A residual gravity image is provided below showing two anomalous areas within a broader gravity response (~5km x 2km), that are associated with historic drill-holes that were found to contain potassic alteration (Figure 2).
Correlation with available aeromagnetic data shows that the gravity anomalies are offset from the stronger magnetic responses, suggesting the possibility of hematite rather than magnetite as a possible cause for the gravity anomalies (Figure 3).
Figure 2: Residual Gravity Image showing location of gravity stations and historic drill-holes (Vale 2015) containing potassic alteration
Figure 3: First Vertical Derivative magnetic image plus residual gravity contours showing the location of historic drill-holes relative to the magnetic and gravity anomalies.
Analysis of available geochemical data contained within historical company reports provided by Government (PIRSA)*, was used to highlight the presence of potassic alteration within both drill-holes (GAW_RC01 and RC02), and the presence of additional proximity indicator elements, including an enrichment in iron (Fe) within drill-hole GAW_RC01, that suggests the possibility of a nearby IOCG system.
The close association of hematite and magnetite with IOCG mineralisation is well known in the IOCG Province of South Australia, which hosts the world-class deposits of Olympic Dam, Carrapateena and Prominent Hill, and is the main reason why magnetic and gravity surveys are commonly used to identify targets for drilling in these areas.
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This article includes content from Ausquest limited, 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.
Deep Diamond Drilling Commences on Large Copper-Mo Porphyry System
- Diamond Drilling has commenced to target a large copper-molybdenum porphyry system at Minnie Springs.
- The deeper diamond drilling is designed to target beneath a 3km long by 1km wide copper molybdenum soil anomaly.
- Previous drilling at Minnie Springs intersected mineralisation, geology and an alteration halo consistent with the zoning of a large porphyry copper / molybdenum system.
- The drilling is supported by a co-funded drilling grant of up to $110,000 for 700m deep diamond drill holes under the WA Government’s Exploration Incentive Scheme (EIS) for the Minnie Springs prospect.
Andrew Ford, GM Exploration
“The commencement of the diamond drilling marks an exciting time for Augustus, with the first hole testing below the existing molybdenum mineralised zone and targeting a high- grade copper core of a porphyry system”
The diamond program scheduled for completion mid-November.
Minnie Springs
Minnie Springs hosts porphyry related Copper - Mo mineralisation that was previously drilled by Equatorial Mining and Catalyst Metals. A molybdenum Exploration Target has previously been defined by SRK Consulting for the historic drilling area as outlined below (Table 1)1.
Alteration mapping suggests a potential tilting of the Minnie Springs system to the northeast, with untested potential for higher grade Copper - Mo mineralisation below existing drilling within the potassic altered zone (Figure 1).
Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm Mo cut-off at 100% recovery.
Clarifying Statement: The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
Figure 1. Schematic cross section looking northwest showing porphyry copper-molybdenum deposit model (Pour and Hashim 2012 – inset at right) rotated 90 degrees and superimposed on existing and planned drilling2.
The program is supported by the WA Government’s Exploration Incentive Scheme (EIS) drilling grant of up to $110,000 for two 700m deep diamond drill holes at the Minnie Springs prospect.
The drilling is designed to provide a 550m deep, geological/geochemical/structural cross- section through the large 3km long by 1km wide copper molybdenum porphyry system.
Previous drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a porphyry copper / moly system.
Click here for the full ASX Release
This article includes content from Augustus Minerals, 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.
Winsome Resources CEO Chris Evans: Sustainable Hard-rock Lithium Opportunities in Quebec Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects