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How Significant Is the Lithium Discovery For Loyal Lithium? — ASX:LLI| ASX Mining News & Discussion
L
Lykeshares
2y
Official
$LLI
How Significant Is the Lithium Discovery For Loyal Lithium?
Loyal Lithium Unveils Major Lithium Discovery at Trieste Project in James Bay, Quebec
James Bay, Quebec, January 18, 2024 – Loyal Lithium Limited (ASX: LLI), an emerging leader in the lithium exploration sector, has announced significant high-grade lithium findings from the first drillhole assays at its Trieste Lithium Project. Located in the prolific James Bay region of Quebec, Canada, this discovery marks a major advancement in the company's exploration endeavors.
High-Grade Lithium Discovery: Drillhole Assays Reveal Potential
Significant Lithium Grades: The assays reported high-grade lithium from surface at Dyke #01, with continuous intercepts showing promising results.
Notable Results:
87.5m at 1.3% Li2O, including an impressive 34.3m at 2.0% Li2O.
Near-surface intercepts such as 40.0m at 1.2% Li2O and 28.8m at 1.1% Li2O.
Presence of Spodumene Mega Crystals: Several high-grade
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intervals were identified, including 1.0m at 4.3% Li2O.
Geological Context and Prospects
Location: The Trieste Lithium Project is situated along the Trieste Greenstone Belt, 10km east of Winsome Resources’ Adina-Jamar project.
Metasediment Host Zone: Spanning 20km², this fertile area lies between the Trieste Greenstone Belt and Tilly granitoid, exhibiting spodumene-rich characteristics.
Strong Financial Foundation and Future Plans
Financial Readiness
Cash Position: Loyal Lithium is well-capitalized with $9.6 million to fund its upcoming drilling program.
Strategic Investments: The funds will predominantly be allocated towards further exploration and development of the Trieste Project.
Upcoming Winter Drilling Program
Exploration Goals: The program aims to explore more spodumene-bearing dykes and extend the known dyke structures.
Preparation Status: Preparations for the winter drilling program are already underway, signaling a swift move to capitalize on the recent findings.
Loyal Lithium's Strategic Outlook and Managing Director's Vision
Adam Ritchie's Perspective: Loyal Lithium’s Managing Director, Mr. Adam Ritchie, expressed optimism about the project's potential, emphasizing the high prospectivity and the "big picture" at Trieste.
Dyke Extensions and Discoveries: The six identified spodumene-bearing dykes within the metasediment host zone indicate potential for further discoveries and extensions.
Company's Broader Vision
Global Footprint: Loyal Lithium, with projects in North America’s top-tier mining jurisdictions, aims to delineate JORC compliant resources and create value for shareholders.
Project Development: The company is focused on systematic exploration, mining, and processing studies to maximize the Trieste Lithium Project's value.
In summary, Loyal Lithium’s breakthrough at the Trieste Lithium Project represents a significant stride in lithium exploration, positioning the company at the forefront of developing critical resources for the burgeoning lithium market.
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L
Lykeshares
133d
Official
Berkshire is hoarding so. much. cash.
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Lykeshares
133d
Official
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore.
There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can
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rush, it’s a complex, slow-moving process that takes years of precision and experience.
Intel could recover some ground eventually, but framing them as the savior of American chipmaking feels more like a political talking point than a practical reality.
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L
Lykeshares
164d
Official
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
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L
Lykeshares
1y
Official
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
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Lykeshares
1y
Official
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
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Lykeshares
1y
Official
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
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Lykeshares
1y
Official
$ASN
Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
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