Metal Energy Corp (TSX-V:MERG, OTCQB:MEEEF) said it now has “ample scientific documentation” supporting its thesis of highly concentrated lithium brines at the SourceRock project in the Thunder Bay-Nipigon area of northwestern Ontario.
In a statement, James Sykes, CEO of Metal Energy, commented: “The Sibley Basin sedimentary brine source rocks exhibit deep geological characteristics and boast elevated total dissolved solids (TDS) levels. Higher TDS concentrations are typically associated with increased lithium content.
“We know the presence of super saline brines within the project and our objective is to confirm their lithium content. With drill permits in-hand we are excited to progress SourceRock towards its planned 'proof-of-concept' drill program."
SourceRock is a drill-ready project with an exploration permit already in-hand from the Ontario Ministry of Mines for up to 20 drill pads. Initial geophysical data compilation has already identified saline brine drill targets on the project.
The company is currently engaged with local indigenous groups, communities, and stakeholders, and anticipates a drill program to commence after sufficient and meaningful consultation has been completed.
SourceRock is exceptionally large, covering 913 square kilometres (km) encompassing approximately 10 to 20 km wide by 95 km long or 91,288 hectares within the Proterozoic Sibley sedimentary basin.
Metal Energy is a nickel and battery metal exploration company with three projects in politically stable Canadian jurisdictions; Manibridge (Ni-Cu-Co-PGE) in Manitoba, and SourceRock (Li-Na-K) and Strange (Ni-Cu-Co-PGE) in Ontario.
Both SourceRock and Strange projects are subject to earn-in agreements where the company can acquire 100% exploration rights to each project.
Contact the author at jon.hopkins@proactiveinvestors.com