Logging and analysis have confirmed heavy lithium mineralisation in all channel samples for Balkan Mining and Minerals, returning with an outstanding average grade of 1.49 per cent lithium oxide and a standout value of 3.4 per cent for its Tango Project in Ontario.
It more than verifies historical data from the Island Showing pegmatite from when lithium was better known as a psychiatric medication, last explored by the Ontario Lithium Company in 1957 as the Wham-O Company produced the first Frisbee.
The samples were collected from a 17-metre channel, a potential dyke which could be a freak at twice the size of what is thought to be at Rock Tech’s Georgia Lake Project, a proxy expected to produce 100,000 tonnes of spodumene concentrate a year.
Lithium is a little more in demand now, and Balkan is on the fast track for maiden drilling within the same highly prospective Georgia Lake pegmatite field.
“We are extremely pleased that all channel samples confirmed the strong presence of lithium mineralisation at the Tango Project, supporting the Projects historical results. The Company is focused on fast tracking the next phase of our exploration activities which will provide us with targets for our initial drilling program.” – Balkan Mining and Metals Managing Director Ross Cotton
Critical Canada and the lithium rebound:
There is still only one operating lithium mine in Canada despite abundant resources and a mining-friendly jurisdiction, but this will not be the case for long as explorers descend on prime untapped territory for a red-hot battery market.
After a massive price downturn through a slump in Chinese EV production, lithium appears at an inflection point, and a group of commodity analysts preaching a major price rebound has quickly grown into a chorus.
Balkan has massively expanded its lithium footprint in Canada, and now stands ready to stamp its authority across the Great White North.
