Globally Significant Maiden Mineral Resource of 59Mt at 100% Owned Adina Lithium Project

Lithium explorer / developer Winsome Resources (ASX:WR1; “Winsome” or “the Company”) is pleased to announce the maiden Mineral Resource Estimate (MRE) for its 100%-owned Adina Lithium Project in the Eeyou Istchee James Bay region of Quebec, Canada.

HIGHLIGHTS

 
• Maiden Inferred Mineral Resource Estimate of 59Mt at 1.12% Li2O declared at Adina
• Adina Lithium Deposit is comprised of two adjacent large spodumene-bearing pegmatite zones with potential to be developed as one large mining operation
• Resource is based on 27,600m of drilling at an approximate spacing of 100m x 100m
• Adina has 5 drill rigs now operating with over 25,000m of additional infill and extensional drilling awaiting assay, targeting a MRE upgrade in H1 2024
• Well-funded to undertake over 50,000m of infill and step out drilling in 2024 at Adina
• Initial project development studies are ongoing including environmental and infrastructure studies

WINSOME’S MANAGING DIRECTOR CHRIS EVANS SAID:

“Today’s announcement of our maiden MRE marks a significant milestone for the Adina Lithium Project and is an historic moment for Winsome Resources.

Just over a year ago, our first sampling expedition began at Adina, and it is a remarkable achievement by our exploration team to have since declared one of the largest hard rock MREs in North America.

We are excited at the prospect of updating this resource again in the first half of 2024, with assays to be received from over 25,000m of drilling to be completed prior to year-end.

Winsome is one of very few lithium developers around the world with a large high-quality resource in a Tier 1 mining jurisdiction, which can integrate directly into the North American electric vehicle supply chain.

Today’s MRE could not have been achieved without the support of our experienced team, known for their past successes in developing, financing, and building hard rock lithium mining operations, as well as from the collaboration of local Cree communities.

I look forward to updating our shareholders, and the local Eeyou Istchee James Bay communities, Quebec, and Canadian stakeholders who will benefit from the development of this project, as we venture into 2024.”

Winsome Resources’ maiden MRE for its 100%-owned Adina Lithium Project is 59Mt at 1.12% Li2O (refer to Table 1), classified in the Inferred category.

Corresponding to a contained tonnage of 1.62Mt Lithium Carbonate Equivalent (LCE), this MRE is based on more than 27,600m of drilling with assays taken from an approximate spacing of 100m x 100m.

Assay results are pending from over 25,000m of additional infill and extensional drilling to the end of 2023, with five drill rigs currently on site at Adina. Data from these assays is anticipated to be received in early 2024 and will be used to upgrade the maiden Mineral Resource during H1 2024.

A total strike length of 3.1km of lithium mineralisation in spodumene-bearing pegmatites has been defined at the Adina Lithium Project to date, across two primary zones - the Main Zone and the Footwall Zone.

The resource and geological modelling have outlined significant potential for growth at Adina Main and Footwall Zones, which remain open to the east and west along strike, up-dip to the north, and at depth.

Current drilling programs are testing potential extensions to this mineralisation to the east where drilling recently confirmed a link between Adina Main and Adina East2, to the west, and to the north where the Footwall Zone remains open up-dip.

The declaration of Winsome’s maiden MRE for the Adina Lithium Project allows preliminary development studies to progress, including initial mine designs with a view to publishing project studies in H2 2024.

Environmental baseline and infrastructure studies are already underway, in consultation with representatives from the local Eeyou Istchee James Bay Cree and local stakeholders in Quebec.

Initial process engineering planning, including building on previous outstanding metallurgical test work results3, are also advancing with drill core to be collected in Q1 2024.

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