
October 05, 2022
Balkan Mining and Minerals Ltd (BMM or the Company) (ASX: BMM) is pleased to announce that its work program at the Gorge Lithium exploration project located in the Georgia Lake Area, Thunder Bay North Mining District of Ontario, Canada (the “Gorge Lithium Project” or “Project”) has commenced.
HIGHLIGHTS
- Phase 1 of the field program has begun, to include sampling and surface trenching along with geological mapping.
- Dialogue and consultation has begun with local First Nation communities.
- The program is designed to identify the extent of spodumene mineralisation and generate short term drill targets.
- The previously announced $1.5 million capital raise has been closed.
As previously announced, during the Company’s due diligence period five samples were collected and sent to ActLabs in Toronto for analysis. BMM announced that that from these five samples, four samples included Li2O values above 3.78%, with the 2 highest results being returned at 5.75% and 6.80%. Full results are summarised in the Company’s announcement dated 28 September 2022.
Work Program
BMM has engaged a highly capable team to conduct the first phase of its exploration program at the Gorge Project, who has a demonstrable record in the district, as well as strong relations with the First Nations communities in the area.
The Company has commenced mapping and sampling of the entire project area. This is planned to be followed by trenching and soil analysis. Subject to favourable results, BMM intends on drilling throughout the fall and winter as the appropriate drilling targets are identified.
Managing Director Ross Cotton commented:
“I would like to thank our dedicated team on the ground who have not wasted a moment to get our work project underway. I also again thank our team in both Australia and Serbia who have worked tirelessly to move BMM forward. We are extremely excited about our strategic move into a Tier 1 mining Jurisdiction in Ontario, Canada. The initial results were a great start for the Company, we look to build on these results as we embark on our planned mapping, sampling and trenching programs.”
Click here for the full ASX Release
This article includes content from Balkan Mining, 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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