EXPLORATION & DEVELOPMENT

Partners optimistic over Mavis Lake lithium

Joint venture partners International Lithium (CN:ILC) and Pioneer Resources (AU:PIO) say a nine-hole drilling programme at the Mavis Lake lithium project in Ontario has “greatly enhanced” its prospectivity.

Staff reporter
Drill core from Mavis Lake

Drill core from Mavis Lake

They said seven of the nine holes intersected significant mineralisation, including 68.3m of spodumene-pegmatite from 82.7m.

Drill core has been sent for analysis and Pioneer managing director David Crook said the results were expected in March.

"At this time the joint venture will further update the market and describe plans for future drilling, as at this stage mineralisation has not been closed off," he said.

Australian-based Pioneer funded the nine-hole programme as part of its earn-in to Mavis Lake. It is also earning into the second (Raleigh) of ILC's three pegmatite projects in Canada.

Pioneer had A$5.44 million (US$4.3 million) in cash at the end of December and is also exploring its lithium, gold, nickel and cobalt projects in Western Australia.

ILC last month approved a US$17 million budget with majority partner Jiangxi Ganfeng Lithium for continued work at the pair's Mariana lithium brine project in Argentina.

ILC and Ganfeng also recently approved a C$1 million (US$0.8 million) budget for work at their Avalonia lithium pegmatite joint venture in Ireland.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.