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Monger Gold (ASX:MMG) shares welcome inaugural exploration at Brisk Lithium Project - Kalkine Media

September 07, 2022 03:09 PM AEST | By Team Kalkine Media
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Highlights

  • Monger Gold (ASX:MMG) has commenced an inaugural exploration program at the Brisk lithium project.
  • MMG holds an exclusive option to acquire 100% of the project.
  • The project is located along trend from the Cancet Project and Patriot Metals’ (TSXV:PMET) potentially world-class Corvette project.
  • The program aims to test and confirm several of the known targets for their lithium potential.  

Shares of Monger Gold Limited (ASX:MMG) jumped by nearly 11% to trade at AU$0.405 midday on 7 September 2022, backed by a crucial company update.

In a major development, MMG has commenced a two-week inaugural exploration program  at the Brisk Lithium Project, James Bay District, Quebec, Canada. The program is designed to test and confirm several targets for their lithium potential.

Monger’s in-country geological partner Dahrouge Geological Consulting, already catering to the ongoing geological services for the project, will use their technical expertise to unearth the prospects under the inaugural exploration program.

Overview of inaugural exploration program   

Monger has an exclusive option to acquire 100% of the Brisk Lithium Project. The inaugural program will be a critical part of the company’s option period due diligence review.

The program will be executed by a four-member team, including an OGQ registered field geologist. It will include helicopter-supported surface exploration, prospecting, and geochemical sampling of the area. 

The program, commenced on 6 September 2022, is scheduled for completion by 16 September 2022.

Brisk Lithium Project sits within highly prospective area

The project hosts several known pegmatite outcrops over its six prospects, with a total area of 98.5km2.

The project is located along trend of the Cancet Project (Winsome Resources, ASX:WR1) at 80km east and the Corvette Project (Patriot Battery Metals, TSXV:PMET) at 15km east.

The Brisk project was generated using similar methods which led to the identification of Patriot Battery Metals’ potentially world-class Corvette Project located along trend.

Project Location (Image Source: Company’s update, 7 September 2022)

Dahrouge employed its proprietary targeting method, which identified the project’s prospective nature for hosting hard-rock, pegmatite-hosted lithium mineralisation.

Pegmatite occurrences also assisted Dahrouge’s work with the appropriate indicator mineralogy for hosting spodumene within favourable host rocks across the James Bay region of Québec. All these parameters led to the identification of the project.

The project is host to several known pegmatite outcrops. Multiple target areas were identified based on the aforementioned criteria and were confirmed by data from aerial imagery. The project area has not witnessed any previous lithium-focused exploration.

For further insights into the company’s profile, click here.

  


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