On May 4, 2023 Allkem Ltd published a detailed news release about its James Bay project which provides a lot more detail than the FS news release published under ASX rules on Dec 21, 2021 which is a far cry from the 43-101 technical report required for Canadian companies. The only graphic other than a map of Quebec with a dot on it is a drill plan. No claim boundary map, nor 3D image of the deposit was provided. Allkem's web site also has a paucity of information related to the James Bay lithium project. So this news release is a pleasant development.
The winter program of 130 holes 29,164 m had 2 purposes. One was infill and delineation drilling to the east of the proven and probable reserve. They have most of the assays for that but published nothing about them. This is the information that is relevant to Brunswick's Anatacau West project. The absence of this information is what matters - they are in no hurry to strengthen BRW's bargaining hand.
The main purpose of this release is to celebrate a new discovery in the "NW Sector". Note from the original diagram that the deposit being developed has a NWW strike. It consists of a series of NNE oriented en enchelon dykes similar to what BRW described extending for over 300 m onto its property. The existing P+P reserve averages 1.3% Li2O. The drill plan shows that this swarm bends northward at the western pit limit. It has been traced for a strike of about 500 m and appears to be about 250 m wide.
What is really important is that this entire extension is under 5-15 m of glacial till with no outcrop. Even more important, the grades they have highlighted are in the 1.5%-2.0% Li2O range, much better than the resource slated for production. It is stunning that the previous operators managed to miss this which I suspect would be a superior starter pit.
The other thing of note is the first published map showing their claim boundary, with the red claims showing what they have acquired since Nov 2, 2022. The map from Genius/Clarity for their Lithium 383 property shows the outlines of existing claims, meaning that Allkem has acquired these claims from existing holders. The blue outlined claims to the north and east of Anatacau West were staked by Allkem. BRW is now surrounded by Allkem.
The fact that Allkem staked land to wrap around the eastern end of Anatacau West helps us speculate that the pegmatite trend might continue right through BRW's claim. That the NW Sector was completely blind with shallow cover, was missed by Galaxy/Lithium One and has a better grade makes one wonder what else lurks beneath the surface in this area. I am now awaiting assays for BRW's pegmatite with much greater anticipation than when BRW first published its update. The NW Sector is a real shot in the arm for this part of James Bay much closer to infrastructure than the Corvette area and it gives one hope that smart work being done by the likes of other juniors in this region on ground with no outcrop might yet pay off. Brunswick plans to prospect the rest of the property starting in June to determine if reports of outcropping pegmatite are LCT type and worth drilling to see if Anatacau West has the potential to become a standalone discovery with a scale similar to Allkem's deposit which had the historical benefit of outcropping so much that it is visible from Google Earth maps. |
