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
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Acquisition includes a 2,500-hectare land position across 6 contiguous claims containing 14 mapped lithium spodumene bearing pegmatite outcrops.
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Summer field program assay results extended the cumulative pegmatite surface mineralisation by approximately 1,000m to 3,250m – a notable 44% increase.
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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.
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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.
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Significant scope to expand the known mineralisation along strike and at depth with multiple outcropping lithium spodumene bearing pegmatites yet to be drill tested.
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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.
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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).
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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.
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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