Canada'S Adina Lithium Mine Makes First Resource Announcement

Winsome Resources has announced the first resource for its Adina lithium mine in James Bay, Quebec, Canada.

The project now has an inferred ore resource of 59 million tons grading 1.12% lithium (Li2O).

Although the project is not as large as other neighboring projects, such as Patriot Battery metals and Allkem's project ore resources of more than 100 million tons, but the project can also be ranked among the top five lithium projects in Quebec, but also in the world's top 20.

Last week, Canaccord Genuity estimated the project's ore resource at 55 million tonnes grading 1.2%, which is essentially in line.

The first resource was estimated based on 25,000 meters of drilling completed since the discovery of the main Adina section. Currently, five drill rigs are still working on the project and a resource update is likely in the next six months.

The Adina lithium mine is 3.1 kilometers long along strike and contains two targets: the main mine section and the newly discovered sump section.

The mine is uncontrolled along strike in both east and west directions, as well as trending north and at depth.

Recent drilling to the east indicates that Adina and Adina East appear to be connected and could be mined in a uniform manner in the future.

Extended edge drilling will be conducted on the Ridge section and the Adina Far East target in 2024.

With a resource in place, Winsome plans to complete a development study in the second half of 2024.