In January of 2018 Azincourt signed a definitive agreement with New Age Metals (TSX.V: NAM) to acquire up to 100% interest in five lithium exploration projects located in the Winnipeg River Pegmatite Field, Manitoba, Canada.
The agreement now covers a total of eight projects (three drill ready) with a land package in excess of 14,000 hectares, representing the largest mineral claim holdings of projects for the lithium group in the Bird River Greenstone Belt, which contains the Winnipeg River Pegmatite Field.
The Field is host to numerous lithium-rich pegmatites in addition to the world-class Tanco Pegmatite, a highly fractionated lithium-cesium-tantalum (LCT) type pegmatite that has been mined at the Tanco Mine since 1969 for spodumene (a major rock unit for lithium (Li)), tantalum (Ta), cesium (Cs), rubidium (Rb), and beryllium (Be) ores.
2018 Work Programs for Winnipeg River Pegmatite Field
Budget for year one: $600,000
Results for 2018 Work Programs for Winnipeg River Pegmatite Field
- Samples return 0.9% to 3.3% Li2O at the FD5 Pegmatite
- Samples return 0.5% to 2.9% Li2O at the Eagle Pegmatite
- High purity Spodumene blade sample from FD5 assays 7.62% Li2O
- Over 100 pegmatites now mapped at Lithman East/Lithman East Extension projects; assays from more than 200 samples pendi
Lithium 1 Project
- 2016 grab samples returned values up to 4.33% Li2O at the Silverleaf Pegmatite
- Silverleaf Pegmatite was mined for spodumene in the 1920s, surface exposure 80m x 45m
- Approximately 40 pegmatites are estimated to exist north of Greer Lake and another 100 south of the lake
Lithium 2 Project
- * Historical estimate from drilling in 1947 defined 545,000 tonnes of 1.4% Li2O*
- 12 samples obtained in 2016 field work range from .02% to 3.04% Li2O from the Eagle Pegmatite and up to 2.08% Li2O from the FD5 Pegmatite
- Lithium-bearing Eagle Pegmatite is 1100m in length, up to 12m wide and open to depth
* The mineral reserve estimate cited above as part of the Lithium Two project is presented as a historical estimate which does not conform to current National Instrument 43-101 standards. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Although the historical estimates are believed to be based on reasonable assumptions, they were calculated prior to the implementation of National Instrument 43-101 standards, consequently, the issuer is not treating the historical estimate as current mineral resources or mineral reserves
Cat Lake, Lithman West, East projects, and subsequent expansions
- Historical rock and geochemical anomalies
- Lithman West & East, adjacent to the Tanco Mine, an underground cesium, spodumene and tantalum mine in production since 1969
- The pegmatite ore body now mined by the Tanco Mine was discovered in the late 1920s. Major minerals found in the mine include spodumene (lithium bearing), amblygonite (lithium bearing), pollucite (cesium bearing), and beryl (beryllium bearing) and a host of tantalum bearing minerals
- Cat Lake Project is adjacent to Quantum Minerals (TSX.V: QMC) Cat Lake Lithium Project (aka Irgon Lithium Mine)
- There is an abundance of pegmatites throughout the project areas, representing substantial exploration upside.