Midas Minerals to Acquire Greenbush Lithium Project, Canada
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Australia-based junior mineral exploration company Midas Minerals has agreed to acquire the Greenbush lithium project, along with several other tenements in Ontario, Canada.
The Greenbush Project is located around 12km east of highway 599, about 95km north of Savant Lake and 70km south of Pickle Lake in the district of Thunder Bay, Ontario.
Savant Lake is located on the Canadian National Railway transcontinental main line, with the nearest grid power being at New Osnaburgh, 30km north of Greenbush.
The Greenbush tenement group covers includes a pegmatite outcrop discovered in 1955, and sampled by the Ontario Geological Survey (OGS) in 1965.
The OGS chip was sampled across the full 50ft width of the spodumene pegmatite outcrop, with results averaging 1.25 percent Li₂O, 0.03 percent caesium (Cs), and 0.15 percent rubidium (Rb).
Presence of spodumene mineral in float and outcrop chip sampling was confirmed in subsequent reconnaissance work completed by Canadian Orebodies in 2009.
“The Greenbush spodumene pegmatite outcropping on the edge of a lake highlights the potential of the project area due to the fact there is very little outcrop in the area and no drilling has been undertaken within 5km of the spodumene pegmatite outcrop. The size, mineralogy and grade of the pegmatite outcrop is also highly encouraging. The southern Greenbush tenement group contains numerous small to very large pegmatite outcrops,” said Midas Minerals Managing Director Mark Calderwood.
“Planned outcrop sampling should determine vectoring of mineralogy within these pegmatite swarms to prioritise new lithium-bearing targets. The Greenbush Project represents the first move out of Western Australia for the company as it applies its extensive lithium expertise to identify additional projects,” added Calderwood.
The Greenbush pegmatite contains albite-microcline-quartz and microcline-spodumene zones.
The spodumene crystals are opaque whitish beige color and locally altered to green muscovite, with no lepidolite observed.
Few outcrops in the lakes show that the subsurface geology ranges from intermediate-felsic to intermediate-mafic metavolcanics and some granite of the East Pashkokogan Lake stock.
The larger southern tenement group covering 87.3km is located mostly to the south of the Greenbush Lake Fault, and is dominated by quartzose meta wacke.
The pegmatites contain alkali feldspar, quartz and mica. Noted accessory minerals include garnet, tourmaline, hornblende, apatite and fluorite.
No spodumene or tantalum mineral occurrences were recorded till date, and the area remains unexplored for Lithium bearing pegmatities, said the Australian mining company.
Source: NS Energy
About Midas Minerals
Midas Minerals is a junior mineral exploration company with a primary focus on lithium and gold. Midas’ Board and management has a strong track record of delivering value for shareholders through mineral discoveries and mine development and growing microcap explorers into successful ASX100-ASX300 companies. The company has three projects located in Western Australia as well as the Greenbush Project in Ontario, Canada.
To stop by Midas Minerals’ website, CLICK HERE
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