Trieste Lithium Project

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OVERVIEW

In October 2022, Loyal Lithium entered agreements to acquire 100% of the Trieste Lithium Project, and in November 2022 the company expanded the project to comprise a total of 466 mineral claims totaling 251 km2, located in the James Bay Region of Québec, Canada, proximate to many world-class lithium projects.

The project was identified due to its prospective nature for hosting hard-rock, pegmatite-hosted lithium mineralisation. The acquisition of Osisko Development Corporations’ Trieste Property connects the eastern extension of the Trieste greenstone belt with its inferred eastern continuation.

Multiple historically mapped pegmatites exist within the Trieste Project area, with a 180ppm lithium rock chip sample analysed by the Geological Survey of Canada (GSC). The Lithium was contained within a tonalite rock type, 24 km along strike east in the same stratigraphic sequence and location that hosts the Winsome Resources’ (ASX: WR1) Adina Lithium Project, which has recorded high-grade lithium assay results1 of up to 4.89% Li2O.

(1) Winsome Resources ASX Announcement: Exceptional High Grade Lithium Assays from Adina - 1 September 2022

Trieste Quebec Map_Not to Scale_2_Nov Update

PROJECT HIGHLIGHTS

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The Trieste Project is located in the prolific James Bay Lithium District of Quebec, Canada, within close proximity to existing lithium resources.

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The project is of a large scale covering 251 km2 within the Trieste Greenstone Belt, located 14km east along strike of Winsome Resources’ (ASX: WR1) Adina Lithium Project which recently recorded high grade lithium assay results1 of up to 4.89% Li2O.

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The project was acquired through staking and acquisition agreements with multiple independent counterparties including:

  • DG Resource Management – generator and vendor of the potentially world-class Corvette Lithium Project owned by Patriot Battery Metal (TSXV:PMET)
  • Osisko Development Corporation (TSXV:ODV) – leading North American mining company focused on Canadian gold opportunities.
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Trieste Lithium Project contains multiple mapped pegmatites and strong indicator minerology along the Trieste Greenstone Belt including an anomalous historical lithium assay of 180ppm Li2.

(2) Winsome Resources ASX Announcement: Exceptional High Grade Lithium Assays from Adina - 1 September 2022
2019 Geological Survey of Canada - Sample Id: 2014059299; ICP 4-acid digest

Group 39
"We have continued excitement about Trieste with its expansion. We have secured an incredible 39km long continuous contact zone in the highly prospective Trieste Greenstone belt. Although previously explored for other minerals and metals, it has never been explored for Lithium.”

Trieste Lithium Project Prospectivity

Loyal Lithium Digram_Trieste_Nov Update

Trieste Lithium Project regional geology

The Trieste greenstone belt has a prominent ironstone (magnetite) unit through the central portion of the mafic volcanics and this magnetic feature appears to pinch out to the east, however the leading northern edge of the mafics may continue further east as the geological interpretation is based on geophysical data with no mapping points across the eastern MMG claim extension. The new claims cover both known GSC mapped mafic volcanic suite and ironstones, and northern tonalite, granodiorites and gneisses, in the western (central) claim portion and in the east follow a magnetic high with the anomalous lithium sample located where mafic volcanics have not been mapped, but are on an interpreted E-W structure. Further east the mafic rocks appear again along the interpreted structure and MMG’s new claims are across these greenstones with mapped pegmatites having strong indicator minerology.