Lodestar Battery Metals Corp. (TSX-V:LSTR, OTCQB:SVTNF) told investors it has acquired an additional 7,859 hectares of mineral claims adjacent to the Peny Property in the Snow Lake District, Manitoba.
The company said its new management, appointed in 2022, decided to stake additional property in the Snow Lake District, due to the favourable infrastructure and lithium pegmatite potential in the surrounding district. Throughout February 2023, it said local crews staked a total of 32 additional claims totalling 7,859 hectares (ha), thereby expanding the Peny claims package to a total of 47 claims for 11,191 ha.
“Since acquiring the Peny Property on September 2, 2022, our goal has been to rapidly evaluate the potential for battery metals and cost-effectively advance our efforts for our shareholders," Lodestar CEO and director Lowell Kamin said in a statement.
“Based on our analysis of the area, we are pleased to strategically increase our land position by staking additional claims to protect our areas of interest. These new claims will be a key area of focus for our exploration program.”
The company said the claims were staked over the prospective ground along the northward extension of the Crowduck Bay fault and Berry Fault systems which are noted regionally to host pegmatites along this late-stage controlling fault trends. Where these intersect the Kisseynew Domain toward the north, it said claims have additionally been staked over areas with favourably oriented potentially dilatational structures interpreted from regional magnetics over parts of the property.
The expanded claims blocks include outcroppings of pegmatite noted from aerial reconnaissance over the property in late 2022, the company said, adding that numerous out-cropping pegmatites were observed on the property.
Based on a historical data compilation over the property, Lodestar said a total of 86 drill holes have been identified on the property, including 18 drill holes with noted pegmatite previously unsampled. The property also hosts a pegmatite mineral showing in the northwest and numerous instances of mapped syn to post tectonic Pegmatites and potentially fertile leucogranites.
2022 exploration results
Lodestar said a preliminary field exploration program was completed between September and October 2022 to confirm potential mineralization and the favourability of the geological environment to host lithium-bearing pegmatites. Initial prospecting was undertaken, as well as selective surface geochemical sampling and overall evaluation of the property, the company added.
A total of 70 rock samples were collected over the OG Peny claims, with samples principally collected from exposures of Quartz and Feldspar dominant pegmatites across selected parts of the property. A further 268 soil samples were collected along the eastern margin of the OG Peny claims near the Crowduck Bay fault. Although results from the 2022 sampling program failed to produce significant results for Lithium, an initial evaluation of the results indicates a strong correlation between lithium, cerium and tantalum. The results are currently being analyzed to determine further favourable trace element geochemical vectors, the company said.
Meanwhile, the company said it has commissioned a remote sensing satellite data acquisition and processing study to provide analysis of synthetic aperture radar data and multispectral Sentinel & Aster data over more than 100 square kilometres covering the property and surrounding areas. By combining modern remote sensing techniques using multispectral imaging and synthetic aperture radar to analyze topography, structure, alteration, vegetation and ground movement, it noted that complex anomalies covering large areas can be quickly and effectively identified. This multivariate exploration approach combines existing geological, geochemical, and geophysical data with multiple satellite analyses to identify new potential mineral targets, Lodestar said.
Lodestar Battery Metals is a Canadian mining exploration company focused on the battery metals space. The company's 100% owned flagship Peny Property comprises 47 mineral claims totalling 11,191 hectares in the Snow Lake District, Manitoba, with access to tier-1 existing infrastructure: railway, roads, airstrip and power. The company also owns 100% interest in two significant silver assets in Mexico.
Contact the author at stephen.gunnion@proactiveinvestors.com