Volta Metals Ltd (CSE:VLTA) announced it has kicked off a structural targeting study as part of its ongoing exploration efforts at the Falcon West lithium property located in northwestern Ontario.
The structural targeting study comes on the heels of a recently concluded discovery drill program, which, when integrated with geochemical soil data and a high-resolution drone magnetic survey, has pinpointed multiple high-priority targets for further investigation in the company's slated 2024 exploration campaign.
The discovery drill program has substantiated the existence of at least six near-surface spodumene-albite pegmatite-hosted lithium, cesium, and tantalum pegmatites within an approximately 300 by 300-meter structural corridor at the property, Volta said in a statement.
The corridor remains open for expansion, highlighting the potential for additional discoveries.
The study may uncover the structural signatures to advance Falcon further, Fred Breaks, the company's technical advisor said in a statement.
“Structural geology is one key to understanding the emplacement and evolution of lithium-bearing pegmatites,” Breaks said. “The structural study is crucial at this project stage and will further generate prospective targets for our exploration program.”
Volta’s soil geochemical survey has revealed several significant geochemical pathfinder anomalies in close proximity to and along the strike from the newly discovered pegmatites, indicating the potential for expansion beneath glacial till cover.
In addition, a drone magnetic survey conducted as part of the 2023 exploration program indicates that the newly uncovered pegmatites are associated with a broad magnetic low, providing further insight into their geological context.
Volta Metals is currently finalizing its 2024 exploration program, which will include extensive geochemical sampling, mechanized trenching, and, contingent on results, diamond drilling.
In corporate news, Volta disclosed that in August 2023, it entered into a right of first refusal agreement with Reflex Advanced Materials concerning the Zigzag property, contiguous to the Falcon West property. However, on January 8, 2024, Reflex announced the sale of the Zigzag property to Integral Metals, prompting Volta Metals to file a statement of claim against Reflex, Integral, and a member of Reflex's management, to enforce its rights under the agreement.