Fin Resources ready to kick off fieldwork on suite of Canadian lithium projects

Fin Resources is gearing up to start field work at its ~138 km² strategic suite of lithium projects in Canada, which will include ground-based mapping, geophysics, rock and/or soil sampling.

The Company’s Mt Tremblant lithium projects include two hard-rock lithium projects within the James Bay area in the Ross and Cancet West projects along with the Gaspe project, prospective for lithium-in-clay mineralisation on the Gaspe Peninsula.

Fin Resources (ASX:FIN) technical advisor Tom Ridges says the company is working with a geological consulting company who’re starting to piece together some prospectivity mapping and progressing targeting for the upcoming field work programme.

“The first field trip programme will focus on the Ross project and Cancet West, they’re our two pegmatite hosted lithium projects.

“And then the Gaspe project is slightly further down the chain, because that’s more of a clay sediment hosted lithium project and requires a little more time on the ground and a more intensive first pass programme.”

Underexplored projects in the right neighbourhood

Ridges says what makes the projects stand out from other lithium plays in Canada is the relatively little work done by previous explorers, especially at the Ross project which is along strike to the east of Nemaska Lithium’s Whabouchi deposit (36.6 Mt at 1.3% Li20).

Historical pegmatitic rock chip samples have reported anomalous Li (Max 243ppm Li2O), and high-resolution satellite imagery has identified a significant number of possible Lithium-Caesium-Tantalum (LCT) pegmatite outcrops which require follow up work.

“The work that has been done has highlighted some really interesting rare earth and lithium results in pegmatites and coarse grain granites,” Ridges said.

“Cancet West is very early, but it’s in a really good neighbourhood, there’s some activity to the East by Winsome Resources’ (ASX:WR1) at their Cancet project and Patriot Battery Metals’ (ASX:PMT) at their Corvette project, where they recently announced results including 156.9m at 2.12% Li2O and 159.7m at 1.65% Li2O.

“No works been done on Cancet West, the only exploration data that we have found to date has been government-based data – so we want to get out there and fact check, complete some mapping and take some rock chips and hopefully get some good results.”

Experienced team makes all the difference

Ridges is a geologist with more than 16 years’ experience and recent roles including MD/CEO of Great Western Exploration (ASX:GTE) and exploration manager at Mineral Resources (ASX:MIN), along with a 12-year stint at Regis Resources (ASX:RRL).

Technical director Brian Talbot has 25 years’ experience under his belt, previously holding senior positions at Galaxy Resources where he managed the Mt Cattlin lithium mine and non-executive director Jason Bontempo, with 22 years’ experience in public company management, corporate advisory, investment banking and public company accounting.

“I think investors will find our $9 million market cap appealing, we have a really good enterprise value, and a fair bit of cash in the bank,” Ridges said.

“And when you look at the board, we’ve got Jason Bontempo who’s always quite aggressive with bringing projects in the company, so I’m sure we’ll keep our eyes out for other projects.

“And then our technical director Brian Talbot has experience with Galaxy Resources and a bunch of other successful lithium companies – which is very valuable to the company.”

This article was developed in collaboration with Fin Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post Fin Resources ready to kick off fieldwork on suite of Canadian lithium projects appeared first on Stockhead.

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