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Loyal Lithium (ASX:LLI) expands Trieste Lithium Project, shares jump

November 21, 2022 11:55 AM AEDT | By Team Kalkine Media
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Highlights:

  • Loyal Lithium Limited (ASX:LLI) has enlarged the area of its Trieste Lithium Project by including a further 31km2 to now a total of 251km2.
  • This expansion followed the approval of 43 claims in a hydroelectric flood zone that was previously reserved.
  • The project has a 39km-long contact zone in the highly prospective Trieste Greenstone Belt, 14km east along strike of the Adina Lithium Project of Winsome Resources (ASX:WR1)
  • The Company’s highly prospective North American lithium portfolio includes:
    • Hard Rock – Trieste Lithium Project (Québec, Canada)
    • Hard Rock – Brisk Lithium Project (Québec, Canada)
    • Brines and Sediment – Scotty Lithium Project (Nevada, USA)

Loyal Lithium Limited (ASX:LLI), a company aspires to position itself as a major North American lithium player, has enlarged the area of its Trieste Lithium Project by 31km2 to 251km2. The large-scale project sits within the highly prospective James Bay Lithium District in Canada.

With this development, the project now houses a 39km-long contact zone in the Trieste Greenstone Belt.

The contact zone is only 14km east along strike of Winsome Resources’ (ASX: WR1) Adina Lithium Project, which has delivered 160m of collective pegmatite intercepts below the well-mineralised Jamar outcrop at Adina (rock chips up to 4.89% Li2O).

Triggered by the update, LLI shares jumped 5.4% to AU$0.585 in the early hours of 21 November 2022.

More to come…


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