Li-1 & Li-2 LITHIUM PROPERTIES JAMES BAY – EEYOU ITSCHEE AREA
Li-1 & Li-2 LITHIUM PROPERTIES OUTLINED
Technical Information:
The Li-1 and Li-2 Properties are located in the James Bay – Eeyou Itschee area, approximately 125 km North of the town of Chibougamau, in a proven lithium mining province which hosts established, world-class lithium resources including the Whabouchi mine to the North and the North American Lithium project to the South. Both Properties are accessible year-round by the Route du Nord.
The Li-1 Property is part of the Troilus Belt and consists of two blocks totalling 24 claims and covering 1,087 hectares (2,685 acres). Contiguous to the Li-1 Property are the Troilus Lithium Project (wholly owned by Q One Mining, under option by Liatam Mining from Australia), the Troilus Gold property recently sold to Sayona Mining for 40 m$ (press release dated November 16, 2022) and the Moblan Lithium Property owned by Sayona Mining. The latter has a resource estimate of 12.03 Mt @ 1.4% Li2O (not 51-101 compliant).
The Li-2 Property consists of 28 claims covering 1,521 hectares (3,759 acres). It is adjacent to a project currently developed by Brunswick Exploration and is located South of the Whabouchi lithium project, which is expected to be one of the richest lithium spodumene deposits in the world, both in terms of volume and grade. That project is being developed by Nemaska Lithium as an open-pit and underground operation.
Both Properties are located in the western Superior Province and lie within the eastern part of the Opatica Sub-province, in the Archaean Frotet-Evans greenstone belt. Pegmatite dykes have already been historically mapped within the Li-2 Property area and are described associated with granites and paragneiss.
Regional efforts are currently underway to develop the area as a lithium hub in Northern Quebec, with the strong support of Quebec’s governmental Plan for the Development of Critical and Strategic Minerals. Furthermore, it benefits from strong infrastructures and its development is well advanced compared to other areas evaluated for lithium.
Key Advantages of the Province of Quebec and the Abitibi and Eeyou Istchee James Bay-Chibougamau Region (Troilus):
The Province of Quebec is recognized as one of the best mining jurisdictions in the world. The key advantages of the James Bay region are the quality of its infrastructure (major road access, hydro-electric power grid, airports), the supportive relationship with the Cree First Nation, the excellent geoscientific database, a favourable Archean geological setting with already known lithium deposits, and an early exploration stage.
Petrolympic’s Lithium Potential Assessment Using technical and Scientific Data:
Already known lithium deposits and major occurrences are widely distributed across the region. Petrolympic has characterized the footprint of most of these sites using all available technical and scientific information from the Quebec Government web site (SIGEOM). This regional analysis extracted many prospective targets with even stronger footprints, most of which Petrolympic has acquired but will need to validate through fieldwork. Based on this assessment, the James Bay-Chibougamau region truly appears to be an emerging mineral province for lithium. The region shares several features in common with large spodumene-bearing pegmatite districts worldwide, especially Western Australia, with comparable tectono-metamorphic frameworks, ages and host lithologies.
Petrolympic is among public companies aggressively and systematically conducting grassroots exploration for lithium in Canada using state-of-the-art exploration technology to identify high-potential targets. Our team has staked major under-explored pegmatite fields across Quebec. We maintain an aggressive prospecting/geochemistry program across our portfolio.