Canada’s Most Famous Prospector is Betting on Northern Quebec’s Lithium

Eureka’s 1400 sq. km. Lithium Project in Northern Quebec Ranks it as One to Watch 

The global demand for lithium, a critical component in electric vehicle (EV) batteries and renewable energy storage systems, is poised to surge in the coming years. In order to meet this demand, mining companies are exploring new frontiers to uncover new and untapped resources. One such company, Eureka Lithium Corp., has staked a 1,408 sq. km claim with a lithium head start – a historically mapped cluster of 12 pegmatites exposed across a 2 km x 3 km area – in Quebec’s Nunavik region, a vast and largely unexplored area of the North that could be key to Canada’s lithium future. 

The company’s decision to explore Quebec’s Great North was not mere chance but a calculated move guided by the insights and expertise of renowned prospector Shawn Ryan, billed as “Canada’s Most Famous Prospector.” Known for his success in identifying promising mineral deposits, Ryan’s unique approach and background played a pivotal role in directing Eureka to this uncharted territory. 

Utilizing a comprehensive review of publicly available government data, including lake sediment sampling, Ryan identified impressive concentrations of lithium values in the Nunavik district. His global perspective, considering geological, geochemical, geophysical, and structural factors, led him to recognize this region as one of the most prospective yet underexplored areas in the world for lithium. Ryan’s experience and fame, which came from his previous successes, including his involvement in gold rushes in the Yukon and Newfoundland, made Eureka’s investment into Northern Quebec a calculated strategic decision that’s already paying off. 

The company’s CEO, Jeffrey Wilson, explains the approach: “We’ve taken a slightly different perspective on our approach in Quebec, and that comes out of a relationship that we have with Shawn Ryan. Sean identified an opportunity in Northern Quebec in a district called Nunavik where there is some mining history. We believe we’ve landed on an opportunity here as a first mover in a region with known lithium sediments and pegmatites which are very good indications of the potential to host lithium deposits.” 

The lithium boom in Canada is a reflection of the global surge in demand for energy metals. Quebec’s north, in particular, has emerged as a promising frontier for lithium exploration, attracting large investments from tier-1 mining companies and investors alike. 

Eureka is not alone in Nunavik. Just 20-30 kilometres away, KoBold Metals is exploring for lithium, cobalt, copper, and nickel. KoBold Metals is a private company backed by the likes of Bill Gates, Jeff Bezos, and Richard Branson and has raised over $200 million to explore for critical minerals. KoBold’s AI-guided approach resulted in hitting nickel-sulfide mineralization in 8 of the 10 drill holes in 2022, easily 10 times better than the industry average. 

Eureka’s put together a district-scale, lithium-focused land package of 1,408 sq. km in Nunavik where a staking rush began earlier this year.  With drilling targeted for later this year, Eureka has mobilized field crews and targeted a section of their property called the Raglan District, where they own 443 sq. km at Raglan West and 229 sq. km at Raglan South. 

Raglan West features some of the highest lithium and cesium values in lake sediments in the Quebec government database, with 16 out of 39 samples greater than 99 percent or 37.3 parts per million and above. A priority focus will be given to a historically mapped cluster of 12 pegmatites exposed across a 2 km x 3 km area. Raglan South features one of the strongest lithium-cesium anomalies in lake bottom sediments in the entire Quebec government database. 

Shawn Ryan emphasizes, “We’re following the science here, and it’s extremely compelling: We’re not going after old showings or a ‘needle in a haystack’. Nunavik is virgin territory, never previously explored specifically for lithium, and this massive area comprising the top third of Quebec could prove to be the ‘haystack’ of mineralized lithium systems in all of Canada.” 

Eureka Lithium’s big bet on Quebec’s unexplored region is a calculated and strategic move. With the guidance of renowned experts, a strong exploration strategy, and the presence of other well-financed explorers like KoBold Metals in the region, Eureka’s looking to increase its investment in the Nunavik district.  The company’s commitment to exploration, a 1,408 sq. km land package with known pegmatites and lithium sediments, coupled with the growing demand for lithium, positions it as a significant player to watch in Canada’s booming lithium industry.