Volta Metals Ltd. [CSE-VLTA] said drilling has discovered spodumene-bearing pegmatites at the company’s Falon West lithium property in northwestern Ontario.
The company said the 11-hole, 933-metre drill program targeted five recently discovered spodumene pegmatites within a 300 by 500-metre area. Spodumene (a high-grade lithium mineral) bearing pegmatites were intersected in all of the holes. Pegmatite thicknesses range from 1.3 metres to 14.6 metres and the mulit-phase mineralized system remains open for expansion along strike and depth.
Mineralized samples have been delivered to the laboratory in Thunder Bay, Ont., with results expected in early 2024, the company said in a press release.
“We are very pleased with our first-ever drilling program at the Falcon West lithium property, which only tested a small portion of the large, more than 13 square kilometre land package,’’ said Volta President and CEO Kerem Usenmez. “Our experienced team’s success of discovering and drilling with 100% success in less than six months validates the significant mineralization potential of this project and Volta as a whole,’’ he said.
Strong demand for lithium, a soft silvery metal is attributed to its key role in the in the production of lithium-ion batteries, which are used in small electronic devices, including smart phones, laptops, and electric vehicles
Lithium is also a key in ingredient used in the production of heat-resistant glass and ceramics, lithium grease lubricants, iron, steel and aluminum.
The main sources of lithium for commercial extraction are localized hardrock pegmatites (igneous rocks of post magmatic fluids) and continental brines (saltwater aquifers). Of the various ores found in pegmatite, spodumene ore is generally the most economically viable source of lithium.
“The initial results of the drilling program suggest the presence of a stacked spodumene pegmatite system at Far West North that will require further work to verify,” said Dr. Fred Beaks, the company’s technical advisor.
“The lithochemistry and structural data accrued from this early phase of drilling will greatly aid in the continuing development of a lithium pegmatite exploration model,’’ he said.
The company went on to say that this inaugural drill program provided additional information to the company’s exploration team to improve their knowledge of the structural orientations of the pegmatites and enhance drill-hole design for the next round of drilling.
The spodumene observed in the core is generally coarse-grained, with crystals up to 40 centimetres in length and 2.5 centimetres wide.
The initial program was designed to test the five spodumene-bearing pegmatites at depth, which were discovered within a small section of the property.
Volta is a Toronto-based mineral exploration company with a focus on lithium, cesium, and tantalum in northwestern Ontario.
Volta shares were unchanged at 10 cents and currently trade in a 52-week range of 40 cents and $0.05.
