Winsome Resources

New Pegmatite Outcrop Discovered at Adina

Hard-rock lithium explorer and developer Winsome Resources Limited (ASX: WR1; “Winsome” or “the Company”) is pleased to announce the discovery of a new pegmatite dyke as part of the recently concluded three-week field exploration program at the Company’s Adina project in Quebec.


  • Large outcropping pegmatite dyke discovered, unconnected to previously identified, and sampled dykes
  • Winsome’s two exploration teams have completed three weeks in the field at Adina
  • New drill targets for upcoming autumn/winter campaign expected to be generated soon
  • Heli-portable diamond drill rig secured for Canadian autumn Adina drilling

The outcrop is located approximately 1km NE from previously drilled outcrops and appears to be unconnected, although infill drilling may be carried out as part of the upcoming autumn-winter campaigns to determine if it is a continuation of previously identified zones.

Rock chip samples from the new outcrop, as well as from other areas of exploration, have been sent for assaying and are expected to be complete in approximately 6 weeks.

Two field teams from the Company’s exploration partner, Technominex, spent three weeks walking, mapping and testing key target areas at Adina, the GPS tracking paths of which can be seen in Figure 1 below.

Winsome’s Managing Director Chris Evans said:

“The team has done an outstanding job to cover so much of the ground at Adina over the past three weeks and to have made further discoveries of pegmatites in the project area. They have taken rock chip samples which are now on their way to the lab and we expect results within the next six weeks. We are hopeful those results will show additional mineralisation.

“The completion of this field work at Adina has provided us with drill targets for the upcoming autumn drilling campaign and the team is now busy going through the permitting process to get the rigs on the ground as soon as possible.

“Our intention is to continue progressing quickly with follow-up exploration activities and work towards being able to announce a resource for Adina, while simultaneously advancing Cancet and our other existing projects in the region.”

During the two weeks while the field teams are on their break, permits for surface stripping the new dyke at Adina and subsequent drilling will be submitted. Once approved, drilling is expected to commence in late September / early October.

Rock chip samples from the new outcrop and the rest of the field exploration at Adina are now on their way to the SGS laboratory in Quebec for assaying with results expected prior to the commencement of drilling.


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.


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Restructure of the Renard Option

Restructure of the Renard Option

 
 

Highlights

 
  • Reduction of initial payment upon exercise of the option from C$15 million to C$1 million .
  •  
  • The balance of the Renard consideration payment delayed until 2026 and 2027.
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  • Renard Option restructure preserves shareholder value by deferring material payments by 12 months and extending the payment consideration period to 30 months from exercise.
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  • Option to Acquire the Renard Project extended to 28 February 2025 , at a cost of $2 million .
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  • Extension gives Winsome scope to explore opportunities to bring in a strategic partner in 2025 and assess various commercial and corporate opportunities to reduce the costs associated with the potential acquisition.
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