Volta Metals Ltd. [CSE-VLTA] has commenced a structural targeting study as part of continuing exploration at the company’s Falcon West lithium property, in northwestern Ontario. Interpretation of its recently completed discovery drill program, in conjunction with geochemical soil data and a high-resolution drone magnetic survey, has identified multiple high-priority targets for follow-up as part of its planned 2024 exploration program.
Drill holes returned 6.6 metres of 1.03% LiO2, 297.2 ppm Cesium and 77.2 PPM Tantalum; 10.1 metres of 1.11% LiO2, 64.0 ppm Cs and 46.1 ppm Ta; 15.6 metres of 1.24% LiO2, 155.5 ppm Cs and 55.4 ppm Ta as well as other encouraging values.
In summary, the recent drill holes confirm the presence of at least six near-surface spodumene-albite pegmatite-hosted lithium, cesium and tantalum pegmatites discovered within an approximately 300-metre by 300-metre structural corridor that remains open for expansion.
In preparation for its 2024 field season, the company has initiated a detailed structural geology study to further understand this newly discovered Li system.
The company’s technical advisor, Dr. Fred Breaks, commented, “We have commenced a study that may uncover the structural signatures to advance the Falcon Project further. Structural geology is one key to understanding the emplacement and evolution of lithium-bearing pegmatites. The structural study is crucial at this project stage and will further generate prospective targets for our exploration program.”
The company’s soil geochemical survey has identified several large geochemical pathfinder anomalies immediately adjacent to and along the strike from the recently discovered pegmatites. This suggests that the system is open for expansion under glacial till cover.
Volta also completed a drone magnetic survey over the property as part of the 2023 exploration program. The magnetic data suggest that the newly discovered pegmatites are related to a broad magnetic low.
The company is currently finalizing its 2024 exploration program, which will include further geochemical sampling, mechanized trenching, and, contingent on results, diamond drilling.
In August 2023, the company entered into a right of first refusal agreement with Reflex Advanced Materials Corp. on the Zigzag property, which is contiguous to the Falcon West Property. On January 8, 2024, Reflex announced the sale of the Zigzag property to Integral Metals Corp, a private company. The company’s position is that the sale to Integral was completed without allowing Volta to exercise its rights under the agreement to acquire the property. The company has filed a statement of claim against Reflex, Integral, and a member of Reflex’s management, to enforce its rights under the agreement.
Volta Metals is focused on lithium, cesium, and tantalum. It has optioned and is currently exploring a critical minerals portfolio of lithium, cesium, and tantalum projects in northwestern Ontario, considered one of the world’s most prolific, emerging hard-rock lithium districts.
