SUMMARY

  • Up to 5.58% Li2O assays in sampling
  • Close to road and electricity infrastructure
  • Drilling underway in 2017
  • Metallurgical testing underway in 2017.

Access

  • Located approximately 185 km east of La Grande and bisected by the Trans Taiga Highway with high voltage power near the project

Mineralisation

  • 9,584ha prospective for high-grade lithium hosted in spodumene-bearing pegmatites
  • Recent exploration program designed to locate and resample pegmatite outcrop historically reported to contain blue/green spodumene and elevated levels of lithium
  • Rock chip sampling in 2016 yielded samples of 1.71% Li2O, 1.85% Li2O, 1.94% Li2O and 3.79% Li2O
  • Spodumene crystals ranged between 15cm to 60cm in size
  • Channel sampling program in 2016/2017 defined outcropping spodumene-bearing pegmatite open across width and along strike
    • CH16-01 was 12.8m in length including intervals of 1.71%, 2.35%, 3.08% and 4.95% Li2O
    • CH16-02 was 10.6m in length including intervals of 1.19%, 2.11% and 2.50% Li2O
    • CH16-03 was 4.1m in length including intervals of 1.22%, 2.54%, 3.55% and 5.58% Li2O
  • Elevated Ta2O5 across most of the identified mineralisation
  • Average Li2O across all channels (1.47%) measured higher than the major lithium deposits in Quebec.

Drilling

  • A two-phase program that includes 4,000m of diamond core drilling targeting resource definition has been planned, with Phase 1 underway (commenced March 2017).

Metallurgical Testing

  • MetalsTech is fast-tracking metallurgical testing at Cancet, sending a 5kg spodumene sample to the ANSTO laboratory in Australia, in collaboration with its technology partner Lithium Australia NL (ASX:LIT)
  • These tests aim to demonstrate the capability of the LIT-owned Sileach™ lithium extraction and processing technology to treat and extract lithium from spodumene concentrate derived from Cancet pegmatite
  • The Company will seek confirmation that under standard operating conditions, Sileach™ is able to extract lithium from the Cancet spodumene concentrate and achieve a representative >90% Li extraction from bench scale testing.

Scoping Study

  • Following resource definition, MetalsTech will complete a Scoping Study for Cancet, expected late 2017

Drill Plan