Burley Minerals Ltd

Chubb Lithium Project Acquisition Update – Quebec (Canada)

Emerging mineral explorer, Burley Minerals Ltd (ASX: BUR, “Burleyor “the Company”) is pleased to announcement an update on the status of the strategic acquisition of the Chubb Lithium Project in the Canadian Province of Quebec, and the exploration approvals for a scheduled drilling commencement programme in late February 2023.

HIGHLIGHTS

  • Geologists on site re-logging core and drill log database being compiled
  • SnowdenOptiro finalising mineralisation interpretation and wire-frame models
  • General Meeting of shareholders scheduled for 19 January 2023 prior to completion of Chubb Lithium Project acquisition1
  • Phase 1 drilling campaign commencement targeted for February 2023
  • Drill programs and site clearance approvals have been submitted to mines department

The Chubb Lithium Project is strategically located in the heart of the world-class lithium province of Quebec, Canada, which hosts major lithium projects including Sayona Mining Ltd (ASX: SYA) and Piedmont Lithium Inc’s North American Lithium (NAL) mines, operations, and Mineral Resources totalling 119Mt @1.1% Li2O (Refer Sayona Mining’s ASX Release dated 23 May 2022). NAL is located 10km North-East of the Chubb Lithium Project.

The Phase 1 drilling program for up to 5,000 metres of NG diamond core, is designed to verify, extend and confirm the extent, depth and orientation of the spodumene-bearing lithium pegmatites logged and drilled in the central area of the 35 Mineral Claims to be acquired in the Chubb Lithium acquisition deal - refer Figure 6 for mineral claim map and access roads.

Dahrouge, a geological consulting firm, located in various jurisdictions within Canada and Quebec, have mobilised to the Chubb Lithium Project district and frequented the core sheds located within the neighbouring town of Val d’ Or. The group will manage the pending interface between the Canadian drilling contractors and the Australian geological and modelling teams, for the effective execution of the Phase 1 drilling program.

Dahrouge has specialised lithium expertise and knowledge associated with the geology and mineralisation of pegmatites within the Quebec Province and are confident with the re-logging and data base generation process currently being undertaken in Val d’ Or. The future logging database will amalgamate with the old and new drilling programs and will include “down-hole” geotechnical and mineralogical surveying.

Burley’s recent signing of an Agreement to acquire 100% ownership of three projects in the World- Class Tier-1 jurisdictions of Quebec, Canada and Western Australia which expands the Company’s exploration footprint into high-grade lithium-bearing spodumene Projects.1 This creates an outstanding opportunity for Burley Shareholders to benefit from future value enhancement achieved through exploration success

1 see Burley announcement dated 17 November 2022.

Burley’s Managing Director Mr. Wayne Richards commented:

“Burley has progressed the advancement of the approvals and mobilisation of the drilling contractor to commence diamond core drilling at the known lithium-bearing pegmatites by late February, which is an outstanding achievement by the Burley team.

The general meeting of shareholders on the 19 January 2023 paves the way for completion of the strategic acquisition of the Chubb Lithium Project in the world-class lithium province of Quebec by 31 January 2023,with the commencement of drilling to follow thereafter.

The early mobilisation of Dahrouge allows Burley to establish itself within the local community and rapidly advance the exploration program.”


Click here for the full ASX Release

This article includes content from Burley Minerals Ltd., 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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