Metal Energy Corp (TSX-V:MERG, OTCQB:MEEEF) said it expects to commence its first drill program at its SourceRock lithium brine project located near Thunder Bay, Ontario, in early January 2024.
The company said the project is drill-ready and it holds an exploration permit from the Ontario Ministry of Mines for up to 20 drill pads at the site.
"We are excited to start our first drill program exploring for lithium brines on SourceRock in the coming days,” Metal Energy CEO James Sykes commented.
“If our thesis is correct, SourceRock could be a significant project of merit in the global lithium supply chain.”
Sykes said that SourceRock is hosted within an ancient sedimentary basin with all the criteria for discovering Ontario's first lithium brines.
“Historic drilling on the project from multiple companies exploring for commodities other than lithium reported salty waters, dolomitic sediments, and interstitial to bedded gypsum, clays, and halites, which are all globally recognized characteristics frequently related to the presence of lithium brines," the CEO said.
Metal Energy is a battery metal exploration company with two projects in politically stable Canadian jurisdictions; Manibridge (nickel-copper-cobalt-platinum group elements) in Manitoba, and SourceRock (lithium-sodium-potassium) in Ontario.