The Conversation (0)
Pacific North West Capital (TSXV:PFN) has announced that its 100 percent owned subsidiary, Lithium Canada Developments, has acquired additional ground from Mustang Minerals, increasing the size of the project. As quoted in the press release: Following up on the Lithium grades previously released on the Lithium Two Project (News release Nov. 17th, 2016) from surface …
Pacific North West Capital (TSXV:PFN) has announced that its 100 percent owned subsidiary, Lithium Canada Developments, has acquired additional ground from Mustang Minerals, increasing the size of the project.
As quoted in the press release:
Following up on the Lithium grades previously released on the Lithium Two Project (News release Nov. 17th, 2016) from surface sampling of the Eagle and F.D. No. 5 Pegmatites, the company decided to enact a clause in their agreement with Mustang and acquire additional ground. This ground has been acquired at no additional cost and the size of the project area has doubled. The company considers the Cat Lake Area to be highly prospective for potentially economic lithium deposits. Numerous pegmatites in the region are Spodumene-Bearing and of the Lithium-Cesium-Tantalum (LCT) type of pregmatites, which are ideal for lithium potential. The Lithium Two Project is located north of Cat Lake, approximately 145 kilometres (90 miles) northeast of Winnipeg, Manitoba (Canada) and 22 kilometres north of the Tanco Mine Site (Figure 1). Geologically, the project is situated in the Cat Lake portion of the Cat Lake – Winnipeg River Pegmatite Field. The Winnipeg River Pegmatite Field hosts the World-Class Tanco Pegmatite.
Two historically known Pegmatites exist on the project area, the Eagle Pegmatite and the F.D. No. 5 Pegmatite. Surface sampling of the Eagle Pegmatite returned assays up to 3.04% Li2O. This pegmatite extends onto the CAT 4 claim to the west. It is the CAT 4 claim that has been acquired from Mustang.