Lithium One Metals Inc. has announced that it has entered into option agreements to acquire six lithium properties in the Red Lake and Thunder Bay Mining Divisions in northwest Ontario. The properties add 23 250 ha. to Lithium One’s portfolio of lithium assets in emerging lithium camps in Ontario and Quebec.
Acquisition highlights:
- Root South Lithium property: Root South is adjacent to the Root project, which is owned by Green Technology Metals who recently announced a 24 000 m drill program on their 2 million t McCombe lithium deposit averaging 1.3% Li2O. The Root South project has several mapped pegmatite showings and has a limited lithium exploration history.
- The Parks Lithium project. Parks is located in the Barbara Lake pegmatite field and is within 10 km east of the Georgia Lake project owned by Rock Tech Lithium.
- Allison South Lithium project. Allison South is located on the edge of the Allison Lake Batholith in an area identified by government mapping for its high potential for lithium exploration. The property is also adjacent to the Allison Lithium project, owned by Green Technology Metals.
- Prospective geology for lithium exploration. All six properties are located near geological subprovince boundaries and feature mapped pegmatites with peraluminous S-type fertile granites. These terrane boundaries are deep seated sutures that act as conduits for fertile peraluminous granites, and lithium projects in Ontario are overwhelmingly located within 20 km of a terrane boundary.
- Planned Work Programs. In Spring 2023, the company will commence an exploration campaign, with the initial focus on prospecting, mapping, and sampling pegmatites.