Metal Energy adds new project as company set to begin hunt for lithium at SourceRock
June 26, 2023 at 04:58 pm EDT
Share
(via NewsDirect)
Metal Energy Corp CEO James Sykes joined Proactive's Steve Darling to share news the company has added to its portfolio with the acquisition of a lithium project in Northwestern Ontario called SourceRock.
The project aligns with Metal Energy's focus on exploring materials for electric vehicles. Sykes told Proactive this project is prospective for lithium and quite large covering 913 square kilometres. The project has numerous geological reasons supporting the high potential for lithium brines within the Sibley sedimentary basin of the Thunder Bay-Nipigon area. The land package also has some comparisons with Chile's Salar de Atacama.
SourceRock covers the deepest parts of the basin with sedimentary thickness ranging from 500 m to 1,000 m, enhancing lithium brine prospectivity. Sykes also told Proactive the company has exploration permits issued for preliminary target area of the original project and some proof of concept drilling is expected later this year.
Contact Details
Proactive Canada
+1 604-688-8158
na-editorial@proactiveinvestors.com
Copyright (c) 2023 TheNewswire - All rights reserved.
Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases
Metal Energy Corp. is a Canada-based battery metal exploration company. The Company is focused on two projects in the Canadian jurisdictions: Manibridge (Ni-Cu-Co-PGE) in Manitoba, and SourceRock (Li-Na-K) in Ontario. The Manibridge Project is 85% owned by the Company and 15% owned by Mistango River Resources Inc. SourceRock is subject to an earn-in agreement where the Company can acquire 100% exploration rights to the project. The Manibridge Project is located in the Thompson Nickel Belt, Manitoba, Canada. Manibridge encompasses about 4,368 hectares (ha) and is located 20 kilometers (km) south of Wabowden, Manitoba. SourceRock is a drill-ready project, and it encompasses approximately 91,477 ha within the Proterozoic Sibley sedimentary basin, Thunder Bay-Nipigon area, Ontario. SourceRock is highly prospective for lithium brines in the Thunder Bay-Nipigon area of northwestern Ontario.