How is Loyal Lithium Progressing with the Identification of Additional Spodumene Zones at Hidden Lake Lithium Project?

Lykeshares 2y Official

$LLI How is Loyal Lithium Progressing with the Identification of Additional Spodumene Zones at Hidden Lake Lithium Project?

Loyal Lithium Limited (ASX: LLI) is making important strides in its exploration activities at the Hidden Lake project, located 45 km east of Yellowknife, NWT, Canada. The company has recently identified six additional spodumene-bearing pegmatite zones, marking a significant development in the project's potential.

Identifying High Priority Targets

Field mapping efforts have successfully identified these new pegmatite zones, which have been sampled for urgent assay analysis. This data will help define high priority targets and determine their inclusion in the upcoming Canadian winter drill program. Loyal Lithium aims to gather crucial information to further solidify the project's prospects.

Field Work and Surveys Completed

In addition to field mapping, LiDAR and orthophoto airborne surveys have been conducted at the Hidden Lake Lithium Project. These surveys, accompanied by the collection of 270 outcrop samples and 33 channel samples, will provide valuable insights. Assay results are expected by September 2023, giving the company a clearer understanding of ... the project's potential.

The LiDAR and orthophoto surveys serve a dual purpose, aiding in the identification of new pegmatite zones while also uncovering concealed extensions of known spodumene-bearing dykes. Images and interpretations from these surveys are anticipated to be available in October 2023, providing further clarity on the project's geology.

Successful Field Program and Evacuation

The recent field program specifically targeted the newly identified pegmatites, which complement the existing four spodumene-bearing pegmatite dykes drilled to a limited depth between 30-50 meters in 2018. These initial drill hole intercepts demonstrated promising lithium concentrations, with a maximum of 1.81% Li2O.

Notably, Loyal Lithium managed to complete the planned field work prior to the Level 3 evacuation order of Yellowknife due to forest fires. All staff and contractors were safely evacuated, and the company expresses its concern for the affected communities and authorities battling the fires.

Future Plans and Considerations

Once the risk of fire and smoke has subsided, Loyal Lithium intends to conduct a high-resolution Aeromagnetic/Radiometric survey, currently scheduled for September 2023. This survey will provide further insights into the project's mineral potential.

The four existing spodumene-bearing pegmatite dykes, which have a cumulative strike length of 2,250 meters, remain open for further exploration at length and depth. Loyal Lithium sees tremendous opportunities for growth and expansion within the Hidden Lake project.

It's essential to note that visual estimates of mineral abundance should not substitute laboratory analyses, which accurately determine concentrations or grades. Such analyses are crucial for accurate economic assessments and valuations while identifying potential impurities or physical properties that may impact project viability.

Loyal Lithium remains committed to advancing its exploration activities and unlocking the full potential of the Hidden Lake Lithium Project. Despite the challenges posed by the forest fires, the company's progress signifies a significant step forward in the development of this promising lithium asset.

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