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Eureka Lithium Continues Due Diligence on the Lac La Motte Lithium Project, Val d'Or

Jan 10, 2024

Eureka Lithium Corp. continues its review and assessment of the Lac La Motte lithium project as part of its Due Diligence period under the letter of intent, to be followed by the negotiation and drafting of the Definitive Agreement with the optionor, Medaro Mining Corp.

The Lac La Motte property is located in La Corne township, in the prolific mining area of the Abitibi- Témiscamingue region, Quebec province, 40 kilometres ("km") northwest of the city of Val d'Or. Spodumene lithium occurrences hosted in the intrusive rocks of the La Corne Batholithe have been explored since the 1950s, with the "La Corne Region" renowned as one of the world's most prospective and active area for hard rock lithium deposits.

The Property is situated almost mid-way between the North American Lithium (NAL) mine and the Authier project. The NAL operation started in March 2023, and is Quebec's only producing lithium mine, and Canada's most recent producer owned by Sayona Quebec, a joint venture between Australia's Sayona Mining Ltd. & North Carolina's Piedmont Lithium Inc. Sayona Mining also owns the Authier project in Lac Motte Township, which is at the permit stage for open pit production, with processing at the NAL site. With two operating lithium mines in the near term, and numerous advanced and early-stage projects the La Motte-La Corne area represents an emerging "lithium hub". The Company's Lac La Motte project is located 9 kms east of the Authier Project, and 15 kms west of the NAL Mine. 

Jeff Wilson, CEO of Eureka Lithium, stated: "We are excited about the opportunity the Lac La Motte project presents to Eureka and its shareholders. Should our due diligence lead us to proceed to a Definitive Agreement, the favourable terms under which Eureka can earn a 100% interest in the project allows Eureka to put money in the ground in exploration and drilling expenditures on a prospective project with year-round access. Furthermore, the high-quality work and advancement of targets by prior operators provides Eureka with a drill-ready and drill-permitted asset with multiple compelling target areas to test in the coming months." 

Two areas key areas of interest have been identified on the Lac La Motte Property, designated as the West Target and East Target, respectively.

East Target

The East Target is located near the southeast corner of Lac La Motte, approximately 300 metres ("m") inland from the lake shore. Sampling, prospecting and mapping by the Optionor in 2022 identified multiple spodumene occurrences, which was investigated with surface sampling and a 9 hole diamond drill program (MD22-01 to 09). The work was mainly focussed along a roughly 500 m long pegmatite trend partially exposed at surface with widths in the range of 0.5 to 2 metres. 

Work Results Highlights:

  • The surface samples result from the main La Motte showing indicate lithium oxide (Li2O) values in the range of less than 0.02% Li2O to 2.58% Li2O.

  • Drill Hole MD22-02 Intersected a 0.7 m wide pegmatite with 0.89% lithium oxide (Li2O) at 72.7 m drilled depth.

  • Drill Hole MD22-05 Intersected three pegmatites: top 0.79 m wide with 1.34% Li2O at 13.18 m depth; middle 0.7 m wide with 0.5% Li2O at 20 m depth; lower 0.81 m wide at 0.78% Li2O at 22.92 m depth.

  • Drill Hole MD22-06 Intersected three pegmatites: top 0.11 m wide with 1.10% Li2O at 31.95 m depth; middle 0.87 m wide with 1.01% Li2O at 34.53 m depth; lower 0.80 m wide at 0.55% Li2O at 37.58 m depth.

  • Drill Hole MD22-07 Intersected 1.76 m wide pegmatite with average 4,375 ppm Li / 0.94% Li2O.

  • Drill Hole MD22-08 Intersected two pegmatites: Upper 1.33 m wide with 1.49% Li2O at 36 m depth; and lower 0.93 m wide at 88% Li2O at 41.2 m depth.

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East Target 2022 Drill Hole Map
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West Target

  • The West Target comprises an historical lithium spodumene prospect "La Motte VII-47" discovered in the 1950s, with the "La Motte" showing located approximately 280 metres to the northeast, discovered in 2010. Spodumene mineralization is hosted in a pegmatite dike cutting metasedimentary rocks of the Caste Formation (Kewagama Group) which are in contact to the west with basalts of the La Motte-Vassan Formation (Malartic Group). In 2022, the Optionor completed five (5) diamond drill holes (MD22-10 to 15) over the La Motte showing, over a NNW-SSE strike of approximately 240 metres. The drill holes intersected multiple low-grade pegmatites. 

  • In 2022, the Optionor also contracted CC Explorations LLC for Satellite Imaging Technology (SIT) to define lithium exploration targets in the West Target area. The SIT survey was able to detect and plot potential lithium concentrations, possibly veins but appearing to run along contact zones as well as indications of outcrops in the bedrock surrounding these areas at depth and near surface.

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West Target 2022 Drill Hole Maps

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