Corvette River Lithium Project, James Bay Region, Quebec (MLS 100%)

Metals Australia has identified outstanding lithium pegmatite potential on its tenements located in the James Bay lithium region of Quebec, Canada (see Figure 1 below).

Figure 1: James Bay region lithium project locations with the Metals Australia Corvette River tenements

The Company’s tenements include the 100%-owned East Pontois, Felicie and West Pontois projects , located within Patriot Battery Metals Inc.’s (ASX:PAT) CV Lithium Trend, and tenements at West and East Eade on the Company’s parallel Corvette South Trend (see Figure 2 below).

Figure 2: Metals Australia’s Corvette River Tenements in the James Bay Region of Quebec

Large, potentially lithium bearing pegmatites have been identified on the Metals Australia tenements.

Multiple lithium-pegmatite targets have been identified on the East Pontois and Felicie tenements, which adjoin the Corvette (CV) Lithium Project owned by Patriot Battery Metals (ASX: PMT) and sit on continuations of the CV Lithium Trend (see location, Figure 1).

Patriot Battery Metals has announced outstanding drilling results and announced a major Mineral Resource on the CV Lithium Trend, from outcropping pegmatite within what appears to be a world-class lithium-pegmatite corridor (Figure 2).

Previous work on the Metals Australia’s tenements focused on gold and base metals exploration.  Large outcropping pegmatites identified on the Company’s West Eade tenements, to the south of the Corvette  Lithium Trend are within the potentially lithium bearing “Corvette South” trend, which is near the Corvette River, 15km to the south of the CV Lithium Trend (Figure 2). The large pegmatite outcrops mapped by the Company (see Image 1 below and Figure 2) are similar in terms of outcrop pattern to the Corvette Lithium Project pegmatites.

Image 1: Large pegmatite outcrop on Metals Australia’s West Eade property within the Corvette South Trend (Figure 1: Sample location EADE-23-BB-001)

A recently completed (September 2023) field mapping and sampling program targeting multiple large, potentially lithium-bearing, pegmatites included 63 pegmatite samples collected from 21 outcropping pegmatite zones as summarised below (see Figure 2, above, for locations):

1. Coarse grained pegmatite dykes within the Company’s Felicie tenement which lies on the Corvette (CV) Lithium Trend (Figure 2). These pegmatite outcrops (see coarse grained pegmatite in Image 2, below) occur 20km west, along strike, from the world-class Patriot Battery Metals (ASX:PMT) CV5 lithium Mineral Resource.
2. Coarse grained pegmatite outcrops within the West Pontois tenements lying on western extensions of the CV Lithium Trend and also surrounded by tenements held by Patriot Battery Metals (see Figure 2).
3. Multiple large coarse grained pegmatite outcrops within an 11km corridor in the West Eade tenements which lie on the Company’s Corvette South Trend (see Figure 2 for location). Image 1 and Image 3, below, show examples of the pegmatite outcrops sampled within this corridor.
4. Multiple large coarse grained pegmatite outcrops within an 8km corridor in the East Eade tenements which occur in the Company’s Corvette South Trend (see Figure 2 for location).

Subject to the results of the initial sampling program, further work on the Corvette River lithium Project tenements will include trenching across anomalous pegmatites followed by targeted drilling programs.