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UNDER OPTION TO FIRST CLASS METALS PLC (LSE: FCM)
Nuinsco optioned the Zig Zag Lake lithium-tantalum property in 2021 to increase its exposure to critical minerals, and to compliment its Prairie Lake rare metals project. The property was optioned to First Class Metals PLC (FCM) in 2023 (see news release dated March 9, 2023).
Located approximately 68 kilometres east-northeast of Armstrong, Ontario, the property is accessible via an all-weather gravel road leading east from Armstrong that approaches to within two kilometres of the claims.
The 6-unit claim group covers the historic Tebishogeshik occurrence as well as other mineralized sites. The lithium-tantalum mineralization is pegmatite-hosted with significant rubidium and cesium mineralization also reported. Critical minerals such as these are essential in the accelerating transition to a low-carbon and digitized economy.
The pegmatite hosting the Tebishogeshik occurrence is a substantial domain of mineralization; currently it is known to be more than 800 m in length and up to 18 m thick. Previous workers have identified Li2O and Ta2O5 mineralization along the entire length of the showing from sampling at surface, grading up to 1.68% Li2O over 7.9 m and 0.168% Ta2O5 over 2.54 m in separate channels samples. Several shallow historic drill holes along the occurrence have returned significant lithium intersections, including an intersection grading 1.08% Li2O over 6.1 m (CO-10-007; 12.45-18.55 m) and a separate intersection of 399.8 ppm Ta2O5 over 2.92 m (CO-10-008; 15.50-18.42 m). The occurrence is open along strike and to depth and remains to be fully evaluated, particularly considering the fast-developing and ever-growing applications for such elements resulting from expanding global electrification, and concern over supply chain issues for critical minerals.
Sampling by Nuinsco in 2021, returned very strongly anomalous lithium, tantalum, and rubidium analyses peaking at 3.55% Li2O, 836 ppm Ta2O5, and 4,003 ppm Rb2O within the pegmatite intrusion.
In 2023, FCM completed a 10-hole, 450 metre diamond drilling program intersecting pegmatite in 9 out of 10 holes. Lithium assays peaked at 5.19% Li₂O with significant tantalum, rubidium, and gallium enrichment.
FCM 2023 Drilling Highlights:
ZIG-23-01: 1.65% Li₂O over 4.3m from 12.7-17.0m (including 2.93% over 1.0m from 15.1-16.1m)
ZIG-23-02: 1.50% Li₂O over 5.0m from 15.0-20.0m (incl. 5.19% over 0.2m from 15.5-15.7m)
ZIG-23-05: 1.13% Li₂O over 6.0m from 7.6-13.6m (incl. 2.17% over 1.0m from 8.5-9.5m)
Tantalum assays up to 624 ppm and 732 ppm Ta (ZIG-23-03; over 0.45m and 0.1m respectively).
