Manning Ventures Inc. (CSE:MANN) has expanded, by staking, an additional 55 mineral claims totalling 2,555 hectares at its 100% owned Bounty Lithium Property, located in the James Bay Lithium District of northern Quebec.
The Property now contains 144 mineral claims totalling 7,544 hectares.
Following additional regional research of the region it was determined that nine additional pegmatite targets were present within favourable host-rocks. The project now contains 62 pegmatite target areas, many with previously defined indicator-mineralogy and indicator-chemistry for hosting Lithium-Cesium-Tantalum (LCT) style, spodumene-bearing pegmatites.
The company is planning to undertake initial exploration on the property as soon as is feasible, consisting of mapping and sampling the target areas. The work will occur as soon as the weather and snow-cover dictate in May or June of this year.
“The company is very pleased to secure such a large land position prospective for lithium pegmatites within the emerging James Bay Pegmatite District,” said CEO, Alex Klenman.
“Given the ever increasing demand for lithium, Manning has decided to advance the Bounty Lithium Project as rapidly as weather permits. Given the number of known pegmatites at Bounty, we feel this truly represents a transformative opportunity for the company.”
The James Bay Pegmatite District of Quebec is known to host several large lithium pegmatite deposits, including a recent CV5 discovery by Patriot Battery Metals (PMET.CSE) located to the east-northeast of Bounty. Additional lithium (spodumene) deposits in the area include:
- James Bay Project of Allkem;
- Rose Lithium-Tantalum Deposit of Critical Elements Lithium Corp.; and
- Whabouchi Lithium Deposit.
Spodumene bearing pegmatites are important sources of hard rock lithium. With rising EV demand lithium hydroxide and lithium carbonatite prices have risen by over 200% during 2021. Despite the price rises the forecast lithium market imbalance will continue to increase dramatically in coming years (Allkem, CEO Presentation, 2021).
The company anticipates undertaking an aggressive approach to exploration of the Property. Given its setting within the Eastmain Greenstone Belt, which is also prospective for gold occurrences, in addition to ground mapping and sampling, airborne geophysics can be used to highlight magnetically quite corridors favourable for pegmatite occurrences.
Further, the company is continuing to evaluate additional opportunities in the battery mineral sector.
For further information please visit: https://manning-ventures.com/
