Winsome Resources

Quarterly Report for Period Ending 31 March 2022

Winsome Resources Limited (ASX: WR1) ("the Company" or "Winsome Resources ") is pleased to report on its Quarterly activities for the 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).

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.


WR1:AU
The Conversation (0)
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.
  •  
  • Renard Option restructure preserves shareholder value by deferring material payments by 12 months and extending the payment consideration period to 30 months from exercise.
  •  
  • Option to Acquire the Renard Project extended to 28 February 2025 , at a cost of $2 million .
  •  
  • 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.
  •  

 Lithium explorer and developer Winsome Resources (ASX: WR1) (Winsome or the Company) announces it has agreed to an amended consideration structure with Stornoway Diamonds ( Canada ) Inc. ( Stornoway ) and 11272420 Canada Inc. (together the Vendors) whereby Winsome elects to exercise its exclusive option over the Renard Project (Option) 1

 

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Winsome Resources

Winsome Further Expands Lithium Exploration Footprint in Quebec

Perth-based lithium exploration and development company Winsome Resources (ASX:WR1; “Winsome” or “the Company”) is pleased to advise it has partnered with geology specialist Mr Glenn Griesbach and with local prospector Mr Marc de Keyser.

Keep reading...Show less
Glowing blue neon batteries with lightning symbols on a dark gradient background.

Top 3 US Lithium Stocks of 2025

As the global economy shifts toward electrification and clean energy, lithium has emerged as a cornerstone of the energy transition, and the US is racing to secure its place in the supply chain.

Lithium-ion batteries are no longer just critical to electric vehicles (EVs); they're becoming vital across sectors to stabilize power systems, particularly amid growing reliance on intermittent renewables.

According to Fastmarkets, demand for battery energy storage systems (BESS) is accelerating, driven by data centers, which have seen electricity consumption grow 12 percent annually since 2017.

Keep reading...Show less
Digital globe and battery with lightning icon on dark background.

Lithium Market Update: Q2 2025 in Review

The second quarter of 2025 brought more downward pressure for lithium prices, as values for lithium carbonate continued to contract, slipping to their lowest level since January 2021.

After starting the year at US$10,484.37 per metric ton, battery-grade lithium carbonate rose to a year-to-date high of US$10,853.85 on January 27. Prices sank through Q1 and most of Q2, bottoming at US$8,329.08 on June 24.

Keep reading...Show less
Digital hexagons overlay construction site with an excavator and cloudy sky in the background.

Ekin Ober on Why AI Could Be Mining’s Most Valuable Tool Yet

For Ekin Ober, bringing generative artificial intelligence (AI) to the critical metals sector through her work at Aethos Labs wasn’t just about technological innovation — it reshaped how she thinks about strategy and sustainability in mining.

Now a principal at Kinterra Capital, Ober applies that broad, cross-disciplinary lens to investment decisions, emphasizing the importance of digital fluency, stakeholder alignment and long-term viability.

Her experience helps her identify operational bottlenecks and social license challenges early — essential in guiding assets like nickel and copper projects from concept to production.

Keep reading...Show less
Stacks of US$100 bills with upward-pointing wooden arrows.

Chris Berry: The West Must Invest in Refinement Now or Fall Further Behind

China’s grip on the battery metals sector has drawn increasing scrutiny in recent years as nations confront growing concerns around supply chain risk and resource security.

Through a blend of domestic output and aggressive overseas investment, particularly in Africa and South America, Chinese companies now command a significant share of upstream supply.

The country is responsible for roughly 60 percent of global rare earths production and controls over 70 percent of cobalt supply through its stakes in mines across the Democratic Republic of Congo.

Keep reading...Show less
Magnifying glass focusing on the Albemarle website logo.

Albemarle's Commitment to Sustainability Shines in New Report

As global demand for critical minerals intensifies, Albemarle (NYSE:ALB) continues to position itself as a global leader not only in lithium production but also in sustainable practices.

In its newly released 2024 sustainability report, titled “Values-Led, Purpose-Driven,” the company underscores its commitment to reducing its environmental footprint across six continents, supporting global supply chains and promoting human rights across operations.

From cutting freshwater intensity at its Chilean operations by 28 percent to procuring 24 percent of its electricity from renewable sources, Albemarle is striving to grow its energy storage business while keeping carbon emissions flat, as it translates ESG goals into action.

Keep reading...Show less

Latest Press Releases

Related News

×