Saint Jean Carbon Acquires Whabouchi Lithium Project, Quebec
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Saint Jean Carbon Inc. has entered into an agreement to acquire the Whabouchi Lithium Project located in the James Bay region of Quebec. The property lies approximately 45 kilometers southeast of the village of Nemaska which is linked by a network of all-season roads to the mining center of Chibougamau, 300 kilometers to the south. The area is also serviced by an airport and a network of high-voltage hydroelectric transmission lines.
“We are pleased to add a lithium property with excellent discovery potential to our electric metals portfolio. Graphite is a significant material for energy storage, and lithium is the other side of the demand curve for energy storage. Both materials need to work together as a balanced chemistry; through the charge and discharge cycles as the lithium intercalates with the graphite. The lithium that we hope to find on the property may allow us to test our own materials and further our goal to be a future supplier of minerals to the growing lithium ion battery business,” said Paul Ogilvie, CEO of Saint Jean Carbon.
The property is comprised of one large block of 80 mineral claims covering 4300 hectares located on the southern margin of the volcano-sedimentary Mountain Lake belt. The property has neighbors Hinterland Metals Inc. to the north and Durango Resources to the south. The property is located approximately 15 kilometers southeast of Nemaska Lithium Inc.‘s Whabouchi hard-rock (spodumene) lithium project. Nemaska’s Whabouchi property contains measured plus indicated resources of 27,991,000 tonnes of 1.57 percent lithium dioxide. Nemaska recently released a positive feasibility study that includes the construction of a mine and concentrator at Whabouchi and a hydrometallurgical plant in Shawinigan, Quebec.
The terms of the purchase of the 80 mineral licenses are a payment of $5,000.00 and the one-time issuance of 2,000,000 shares of the capital stock of the company to the vendors upon approval of the agreement.
The company will immediately commence a compilation of historic geological data relevant to the property. A multiphase exploration program on the property will commence in late July or early August, beginning with prospecting for and detailed mapping of exposures of pegmatite granites, to be followed by ground geophysical surveys and then, if the initial rock sampling and geophysical results are favorable, a diamond drilling program.
About Saint Jean Carbon
Saint Jean is a publicly traded carbon science company, with interest in graphite mining claims in the province of Quebec in Canada.
To stop by Saint Jean Carbon’s website, CLICK HERE
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