Great Atlantic Resources Corp (CVE:GR) has been encouraged by lithium analysis of rock grab samples from its South Quarry tungsten project in east-central Newfoundland.
“The anomalous amounts of lithium in some samples, the pegmatitic nature of the veins and the near-by granite intrusions indicates lithium potential at the South Quarry project,” claimed David Martin, vice president of exploration for the Canadian explorer.
“The exact minerology of the pegmatitic veins has not been determined. The anomalous cesium content in some samples possibly indicates potential for LCT – Type (lithium – cesium – tantalum) Pegmatites although the tantalum content of the samples was nil. Tungsten remains the primary focus at South Quarry,” he added.
Multiple grab samples exceeded 200 parts per million (ppm) lithium, being of vein and meta-sediment, some of which also produced the highest cesium values, Great Atlantic said.
Veins observed and sampled on the property are commonly pegmatitic in nature containing quartz, feldspar, mica and scheelite (some veins contain beryl).
Great Atlantic's management consider these samples to be anomalous for lithium and indicative of lithium potential on the property.
Great Atlantic has the option to acquire 100% interest in the property, subject to a 3% net smelter royalty.
Access to the property is excellent with a paved road transecting the property, the company said. The property covers an area of around 3,160 hectares.