Resource Base Ltd (ASX: RBX) has entered into an exclusive option agreement to acquire 100% of the Wali and Ernst Lake Lithium Projects, located in the prolific James Bay Lithium District in northern west-central Québec, Canada.
The option agreement includes a 45-day Option Period (as defined below) in which Resource Base intends to conduct a detailed database compilation and review, to design a maiden field programme to confirm and test several of the targets for their potential to contain lithium.
“The James Bay Lithium District, which is home to Patriot Battery Metals and Winsome Resources, is one of the leading hard rock lithium locations globally,” Non-Executive Chairman, Maurice Feilich, said.
“Securing an exclusive option over two highly prospective lithium projects in the James Bay area and in the same formation belt is an exciting opportunity for Resource Base.”
Wali Lithium Project Overview
The Wali Lithium Project comprises 100 mineral claims totalling 5,112 hectares (51.12sq. km).
The Wali Project is located in the LaGrande sub-province of the Superior Province, ~16km east of Patriot Battery Metals Corvette prospect. The Property sits along the volcanic belt and encompasses various intrusive suites including the lithium pegmatite prospective source rocks of the Vieux Comptoir Granitic Suite which have been mapped on the property.
Regionally, the Vieux Comptoir Granitic Suite is known to host K-feldspar granite phases in pegmatite form which may host an abundance of spodumene. Wali is underlain by the source rock (Vieux Comptoir suite) which would have injected pegmatite dykes into those greenstone rocks in the region.
Geologically, the greenstone within the Wali Project is interpreted to be a ‘dismembered’ section of the same greenstone belt that hosts Patriot’s CV5 discovery.
Both greenstone belts occur at the contact between the intrusive tonalite to the south and granodiorite to the north, both of which may be the source granites for the unusually large Lithium- Cesium-Tantalum (LCT) pegmatites in the area. This geological interpretation strongly supports the prospectivity of the Project for further lithium discoveries.
Ernst Lake Lithium Project Overview
The Ernst Lake Lithium Project comprises 109 mineral claims totalling 5,631.72 hectares (56.31sq km), located in the James Bay Region of northern west-central Québec.
The Ernst Lake Project is located directly along the Trieste formation like recent lithium discoveries made by Winsome Resources Limited on its Adina project. The Project is located just 13km south of the Adina Project partly within the same greenstone belt which is prospective for lithium with over 10km of strike.
For further information please visit: https://resourcebase.com.au/