Proceeds from a $250,000 private placement will be used for exploration and definition drilling of a La Motte Twp. lithium property northwest of Val d’Or, Que.
Raymor Resources (ASE) says previous work indicates a major spodumene-bearing pegmatite dyke with a low dip, about 1,600 ft. in length and more than 80 ft. in average thickness. The zone is open along strike and at depth.
Thirty holes of a 33-hole, 12,000-ft. program intersected the dyke. Among the better intersections are 1.16% Li2O over 100 ft., 1.39% over 50 ft. and 1.34% over 140 ft.
A preliminary reserve of 4.5 million tons grading 1.1% (to 300 ft. below surface) is estimated.
Follow-up work will include trenching and bulk sampling of some 50 tons of ore. The company plans metallurgical concentration tests and production of lithium carbonate in a laboratory during the next 2-3 months. It hopes to complete a feasibility study by the end of 1994.
Lithium has application in several areas, including in aluminum refining, lubricating greases and the manufacture of glasses, ceramics and enamels. The mineral is also being used in high-energy batteries where the metal performs as the anode.
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