Hidden Lake Lithium Project

Quebec, Canada

Project Overview

World Class Lithium Jurisdiction

On 12 April 2023, Loyal Lithium announced the transformational acquisition of a controlling, majority state in the advanced Hidden Lake Lithium Project, formalising a Joint Venture arrangement between Loyal Lithium and Patriot Battery Metals (ASX:PMT, TSXV:PMET), the minority owner of 5 of the claims.

The acquisition includes a 2,500-hectare land position across six contiguous claims containing 14 mapped lithium spodumene bearing pegmatite outcrops, with 4 drill tested spanning a cumulative strike length of 2,250m.

If completed, the Acquisition will result in a formal change of nature for the Company, from a gold exploration company to a lithium exploration and development company.

Project Highlights

Hidden Lake Lithium Project

  • Acquisition includes a 2,500-hectare land position across 6 contiguous claims containing 14 mapped lithium spodumene bearing pegmatite outcrops.

  • Summer field program assay results extended the cumulative pegmatite surface mineralisation by approximately 1,000m to 3,250m – a notable 44% increase.

  • The extensive surface mineralisation has been grouped within two major mineralised clusters (MAX & HUE), consisting of 7 spodumene bearing pegmatite dykes that will be the main target of the drilling program this Canadian Winter.

  • Field work, LiDAR and orthophoto airborne surveys have been completed, with 270 outcrop samples and 33 channel samples collected with assay results expected later in 2023.

  • Significant scope to expand the known mineralisation along strike and at depth with multiple outcropping lithium spodumene bearing pegmatites yet to be drill tested.

  • Drilling in 2018 targeted 4 spodumene rich pegmatites to a limited depth of 30-50m vertical with all 10 drill holes intercepting high-grade spodumene of up to 1.81% Li2O1.

  • Metallurgical testwork indicates consistency across spodumene rich dykes with very simple mineralogy of predominantly course grained spodumene, quartz, and feldspars, with low impurities (<0.25% FeO).

  • Dense Media Separation (DMS) pilot plant produced a high-grade concentrate of 6.11% Li2O from a 400kg bulk sample with minimal loss to tailings.

  • Loyal Lithium is fully-funded to complete the proposed acquisition and undertake exploration and feasibility workstreams into CY2025 utilising existing cash reserves.

Location & Infrastructure

Yellowknife Lithium Belt

The Hidden Lake Lithium Project is located in the Yellowknife Lithium Belt, in the Northwest Territories, Canada, which has a proud history of mining with a well-established workforce supporting numerous active regional mines including Rio Tinto’s (ASX:RIO) Diavik Diamond Mine and Vital Metals’ (ASX:VML) Nechalacho REE Mine.

The project is strategically located 45km east of Yellowknife, the capital of Northwest Territories, with an all-weather highway to the south and Li-FT Power’s (CSE: LIFT; FSE: WS0) properties to the North, with a heavy-rail terminal and seaport facilities within trucking distance.

From Yellowknife, the project can be accessed by travelling east on the all-weather Highway 4/Ingraham Trail for approximately 65km. From there, a pre-existing ATV trail trends northward toward the historic Hidden Lake Mine and crosses portions of the Project. Alternatively, the Property can be accessed using a helicopter or float plane based out of Yellowknife.

Notable infrastructure connects Yellowknife to the rest of Canada:

  • Domestic Airport – daily connections to Calgary, Vancouver and Edmonton
  • All weather roads – south into Alberta and British Colombia
  • Heavy rail terminal and seaport – Hay River
  • Hydroelectric power network – 2030 plans to extend to the Lithium Belt