Four lithium exploration sites in the James Bay region of Quebec, Canada, have been acquired by Coolabah Metals through the purchase of Hampden Lithium.
Through the acquisition of 100% of the issued share capital of Hampden Lithium Pty Ltd, Coolabah Metals Limited (ASX:CBH) is pleased to release the news that it has succeeded in closing the acquisition of four very prospective lithium exploration properties situated in the highly sought-after James Bay region of Quebec, Canada, and one in the Red Lake region of north-western Ontario, Canada.
Within 20 kilometres of the world-class Corvette Project, founded by Patriot Battery Metals (ASX: PMT), a permit has been secured for lithium exploration to commence almost immediately. As a result of the acquisition, exploration of the targets that have been pinpointed can begin in the following weeks.
Cameron Provost, Managing Director of Coolabah Metals Ltd, said:
Following the overwhelming support from all stakeholders, we are absolutely delighted to have completed the acquisition of the Hampden Lithium project in Canada. The entire team has worked industriously on the Hampden Lithium Project, especially coordinating the field activities.
Exploration work is well underway, and the Board looks forward to providing further updates in coming weeks.
Aerial photographs reveal a notable linear dyke structure in the southern part of the Carmoy site, where pegmatite outcrops have been plotted. Targeting the southern pegmatite and linear formations on the map will be an apparent first step for Coolabah’s exploration team.
Drilling results of 156.9m at 2.12% Li2O, including 25m at 5.04% Li2O, were recently released for Patriot Battery Metals’ (ASX:PMT) Corvette Project, which is located around 15 km along strike to the north-east of the Carmoy Project.
The McCoy Lake Project is located about 75 kilometres east of the Frontier Lithium PAK and Spark deposits, which contain a combined 58.4 million metric tonnes (Mt) of lithium dioxide (Li2O) at a grade of 1.50% (Indicated and Inferred) as of February 2022.
About Coolabah Metals Limited
Coolabah Metals Limited (ASX:CBH) is an ASX-listed minerals explorer with a focus on copper, gold and base metal assets throughout Australia. Coolabah Metals are also active in exploring for critical minerals and the two lithium projects located in Canada.
