Balkan Mining and Minerals to Acquire Tango Lithium Project, Canada
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Balkan Mining and Minerals has secured an exclusive option to acquire up to 100 percent of the Tango Lithium exploration project located in the Georgia Lake Area, Thunder Bay North Mining District of Ontario, Canada. This agreement now provides the company with two lithium projects in the Georgia Lake Area in Ontario.
The Tango Lithium Project comprises of 41 claim units covering known pegmatite occurrences within the highly prospective Georgia Lake pegmatite field. The Georgia Lake pegmatite field includes Alix Resources’ Jackpot pegmatite located to the southwest and Rock Tech Lithium’s Newkirk pegmatite, which lies 3 km to the west of the project. The project is located along the southern shore of Georgia Lake, approximately 31km southwest of the company’s Gorge Project.
The Port of Thunder Bay is a major facility that ships a number of commodities and general cargo via the Great Lakes.
The features below point to exploration potential of the project:
• The project covers known albite-spodumene-typepegmatites on the Island as well as just off the property
boundary along the southwest (Point Area) and northeast boundaries (Georgia Area)
• The pegmatite dykes at Tango tend to be stacked as multiple parallel albite-spodumene type pegmatite bodies.
• The historical Island pegmatite sample weighing 213.2kg returned 1.4% Li2O, which was interpreted to be
taken from a surface trench.
• This property is under explored, with 3 drill holes completed on the Island pegmatite in 1957 to a depth of
22.86m (75ft), each confirmed a presence of albite-spodumene.
The transaction allows the company to expand its footprint in a well known, emerging highly prospective lithium region of Canada, a tier 1 mining jurisdiction.
About Balkan Mining and Minerals
Balkan Mining and Minerals is focused on the early-stage exploration through to development of borate and associated lithium in the Balkans. The company’s Projects comprise the Rekovac, Dobrinja, and Pranjani Lithium-Borate Projects which are located within the Republic of Serbia.
To stop by Balkan’s website, CLICK HERE
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