SUMMARY

  • Deal to acquire up to 100% interest
  • Excellent road access and infrastructure
  • Dominant landholding in James Bay area, targeting spodumene-hosted lithium
  • Contiguous with Nemaska Lithium (TSX.V:NMX) Whabouchi Spodumene Mine.

Access

  • Easy access via the ‘Route du Nord’ road that crosses the property
  • 250–300m above sea-level
  • 40km from local community of Nemaska
  • 10km from ‘the Poste Albanel’ electrical station with electrical transmission lines close to the property

Mineralisation

  • Targeting spodumene-bearing, rare metal-bearing pegmatite dyke complexes
  • Whabouchi pegmatite sampled from Nemaska’s drill core averages 1.62 % Li2O with values up to 4.24 % Li2O
  • Spodumene also contains minor amounts of niobium and tantalum
  • The lithium mineralisation occurs mainly in medium to large spodumene crystals, up to 30cm in size.

Processing

  • Nemaska has been able to produce (test pilot) a spodumene final concentrate grade of 6.0 % Li2O or higher at its Whabouchi Mine with more than 77 % lithium recovery representing 22.1 % weight could be obtained consistently.

Nemaska Lithium’s Whabouchi Spodumene Mine

  • 2nd richest and largest deposit in the worlD
  • Pegmatite/spodumene-hosted lithium
  • 3Mt Proven and Probable Reserves average grade 1.46% Li2O
  • CAD$1.9 billion pre-tax NPV8
  • Pre-tax IRR of 37.7%
  • Permitted for 213,000tpa conc. (6% Li2O)
  • Lithium hydroxide and lithium carbonate
  • Quebec Government invested $10 million
  • Recently completed ~$70 million institutional raise.