Latest news with #spodumene
Yahoo
09-07-2025
- Business
- Yahoo
Fury Intercepts 32.35m of 1.16% Li2O at the Ninaaskumuwin Discovery
TORONTO, Canada, July 09, 2025 (GLOBE NEWSWIRE) -- Fury Gold Mines Limited (TSX and NYSE American: FURY) ('Fury' or the 'Company') is pleased to announce drill results from the maiden drill program, totaling 825 metres (m) in 5 holes, on its Ninaaskumuwin lithium discovery at the Elmer East project located in the Eeyou Istchee James Bay region of Quebec (Figure 1). The drilling targeted a spodumene-bearing pegmatite outcrop, which returned surface samples of up to 3.92% Li2O. Highlights from the drill campaign include 32.35m of 1.16% Li2O from EE24-003 and 22.48m of 1.19% Li2O from EE24-002 (Table 1). The lithium mineralized spodumene-bearing pegmatite remains open at depth and along strike, warranting additional drilling. Highlights: Thick spodumene-bearing pegmatite (>32 m in thickness) was intersected in three holes with individual sample grades of up to 3.70% Li2O; Drill results confirm the vertical continuity of lithium mineralization to 150 m below surface; and The lithium-bearing pegmatite remains open along strike and to depth. 'We are pleased with the positive drill results out of the Ninaaskumuwin lithium discovery from our newly acquired Elmer East project in Quebec,' commented Tim Clark, CEO of Fury. 'These results continue to demonstrate the value created through our acquisition of Quebec Precious Metals earlier this year, and we look forward to continued exploration and potential discovery across our extensive land package in the James Bay region.' Table 1: 2024 Elmer East drilling highlights. Hole ID From To Length (m) Li (ppm) Li2O (%) EE24-001 127.95 150.85 22.9 3662 0.79 EE24-002 72.8 95.28 22.48 5519 1.1972.8 80 7.2 8755 1.50 EE24-003 88.6 120.95 32.35 5372 1.1690.1 96.1 6 10891 2.34104 105 5 11044 2.38 Downhole thickness was used due to the uncertainty in the orientations of the mineralized pegmatite bodies. Elmer East The Ninaaskumuwin lithium discovery is located on Fury's 100% owned Elmer East project, which covers approximately 45,735 hectares (ha). Ninaaskumuwin is easily accessible from the paved Billy Diamond highway, approximately 60 kilometres (km) north of the 'km 381' rest stop where accommodation, catering, fuel, and power are available (Figure 1). The discovery sits approximately 50 km north of Rio Tinto plc's Galaxy Lithium project, acquired in March 2025 as part of the acquisition of Arcadium Lithium plc for USD 6.7 billion. Figure 1: Location map of the Elmer East Project The drilling campaign targeted a spodumene-bearing pegmatite outcrop where limited sampling returned values of 1.10% to 3.92% Li2O from nine samples (Figure 2) (see Quebec Precious Metals Corporation News Release dated January 18, 2024). Geophysics and geological mapping indicate that the spodumene-bearing pegmatite has a potential strike length of up to 3.8 km. All five drill holes intersected highly fractionated pegmatite with spodumene mineralization observed in three of the holes. The spodumene mineralization observed is evenly distributed throughout the intersected pegmatite. The pegmatite is composed of quartz, plagioclase, potassic feldspar, and spodumene with a lesser proportion of muscovite, tourmaline, and garnet. The spodumene is light greenish-white and occurs as large and elongated crystals averaging 2 x 5 cm and up to 2 x 15 cm. A portion of the pegmatite is albite altered, in which spodumene is concentrated in bands of fine-grained crystals. The pegmatite is hosted in metasedimentary units, mainly matrix-supported conglomerate interbedded with wacke and coarse-grained sandstone. Figure 2: Plan map of the Ninaaskumuwin lithium discoveryshowing the locations of 2024 drill holes in relation to the surface expression of the pegmatite dyke. For original disclosure on the 2023 surface grab samples see Quebec Precious Metals Corporation news releases dated January 18, 2024Figure 3: Cross-section of drill hole EE24-001 to EE24-003 showing the down-dip continuity of lithium mineralization from surface down to 150m depth. 'The James Bay region has experienced a boom in lithium exploration over the past few years and is gaining attention on the world stage. The Ninaaskumuwin lithium discovery is in a great location close to established infrastructure and Rio Tinto's Galaxy Lithium project, which is in the construction phase. These initial results from the limited 2024 drilling are encouraging and warrant additional drilling to fully understand the potential of the discovery,' commented Bryan Atkinson, SVP Exploration of Fury. Valérie Doyon, Senior Project Geologist at Fury, is a 'qualified person' within the meaning of Canadian mineral projects disclosure standards instrument 43-101 and has reviewed and approved the technical disclosures in this press release. Sampling and Assaying Disclosure 2024 Drilling GeoVector Management Inc., based in Ottawa, supervised the drilling program for QPM, which includes core logging, sampling of the drill core and shipment of the samples to the laboratory facility. Drilling was performed by RJLL Drilling, based in Rouyn-Noranda. 2025 Assaying and QAQC Analytical samples were taken by sawing HQ diameter core into equal halves with one half being sent to IGS Laboratories ('IGS'), based in Delson, Quebec, an independent ISO-17025 2017 accredited laboratory. The samples were crushed to 100% passing 2 mm and pulverized to at least 85% passing 75 microns. Excess crushed and pulverized material not used for analysis have been retained for future reference. All samples were analyzed by Sodium Peroxide Fusion and ICP-OES finish using an aliquot of pulverized material. IGS used selected pegmatite/spodumene matrix matching CRMs. QAQC protocols include systematic insertion of CRM standards 1 in every 20 samples and alternating blank samples of quartz and core duplicate samples 1 in every 20 samples. Assays of quality control samples were compared with reference samples in a database and verified to be acceptable prior to use of data from analyzed batches. Technical and scientific information disclosed from the neighbouring Galaxy project does not necessarily apply to the Elmer East project. About Fury Gold Mines Limited Fury Gold Mines Limited is a well-financed Canadian-focused exploration company positioned in two prolific mining regions across Canada and holds an 11.8 million common share position in Dolly Varden Silver Corp (approximately 13.5% of issued shares). Led by a management team and board of directors with proven success in financing and advancing exploration assets, Fury intends to grow its multi-million-ounce gold platform through rigorous project evaluation and exploration excellence. Fury is committed to upholding the highest industry standards for corporate governance, environmental stewardship, community engagement and sustainable mining. For more information on Fury Gold Mines, visit . For further information on Fury Gold Mines Limited, please contact:Margaux Villalpando, Investor RelationsTel: (844) 601-0841Email: info@ Website: Neither the TSX nor its Regulations Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this news release. Forward-Looking Statements and Additional Cautionary Language This release includes certain statements that may be deemed to be 'forward-looking statements' within the meaning of applicable securities laws, which statements relate to the future exploration operations of the Company and may include other statements that are not historical facts. Forward-looking statements contained in this release primarily relate to statements that may suggest that the future work at the Ninaaskumuwin lithium discovery may identify a significant mineral resource. Although the Company believes that the assumptions and expectations reflected in those forward-looking statements were reasonable at the time such statements were made, there can be no certainty that such assumptions and expectations will prove to be materially correct. Mineral exploration is a high-risk enterprise. Readers should refer to the risks discussed in the Company's Annual Information Form and MD&A for the year ended December 31, 2024, and subsequent continuous disclosure filings with the Canadian Securities Administrators available at and the Company's Annual Report available at . Readers should not place heavy reliance on forward-looking information, which is inherently uncertain. Figures accompanying this announcement are available at: in to access your portfolio
Associated Press
03-07-2025
- Business
- Associated Press
LIFT Announces Commencement of Exploration Activities at the Cali Lithium Project, NWT
Vancouver, British Columbia--(Newsfile Corp. - July 3, 2025) - Li-FT Power Ltd. (TSXV: LIFT) (OTCQX: LIFFF) (FSE: WS0) ('LIFT' or the 'Company') is pleased to announce commencement of exploration activities set for the 17 th of July 2025, at the Cali Lithium Project in the Northwest Territories, Canada (Figure 1). The Cali project is located towards the northwest end of the Little Nahanni Spodumene Pegmatite Group, comprising numerous spodumene dykes emplaced within a structural corridor that is at least 13 km long and 100's of meters wide. Prospecting and sampling of this corridor in the summer of 2023 confirmed several contiguous and parallel dyke zones between 100 to 300 meters wide (Figure 2). LIFT's 2023 work also confirmed that many of the dykes contain coarse spodumene crystals, with rock sampling returning grades up to 3.04% Li 2 O. In 2024, LIFT staked an additional 9,681 hectares covering the corridor further to the northwest following the approval of an amendment to the Sahtú Land Use Plan (the Nááts'ı̨hch'oh Amendments) which allows for exploration staking and potential future development of the dyke corridors ( see press release dated September 3, 2024 ). The 2025 work program will focus on the unrealized potential of the Little Nahanni structures extending into the newly acquired claims, as well as the collection of trench and metallurgical samples in the established mineralization zones identified in the 2023 work program (Figure 2). [ This image cannot be displayed. Please visit the source: ] Figure 1 - Location of LIFT's Cali Project. To view an enhanced version of this graphic, please visit: Proposed work plan 2025 A total of 1,100 m of trenching is planned in zones of high grade spodumene mineralization mapped and sampled in 2023 (Figure 2, inset map). Trenches will be opened perpendicular to the dyke corridors to help understand grade and width continuity in preparation for future drill testing. Additional bulk metallurgical samples of the dykes will be collected for early-stage information on spodumene recovery by dense media separation (DMS). An area of 1,877 hectares immediately northeast of the trenching program (Figure 2) has also been selected for prospect mapping and sampling in the 2025 program. High-resolution LiDAR and orthophoto interpretation of this area has identified continuity of the Cali dykes to the northwest and thereby also high potential for spodumene mineralization. Field teams will focus on the fertility of these zones through collection of detailed geochemical and mapping data for future follow-up trenching and metallurgical studies. [ This image cannot be displayed. Please visit the source: ] Figure 2 - Location Map of 2025 surface program. To view an enhanced version of this graphic, please visit: Francis MacDonald, CEO of LIFT comments, 'The 2025 exploration program will significantly advance the understanding and economic potential of the Cali Lithium Project. By integrating trenching, metallurgical testing, and extensive prospecting across underexplored extensions of the spodumene corridors, LIFT aims to position the project for potential future resource delineation . We believe that the Cali Project could eventually be a significant source of spodumene in western Canada.' Qualified Person The disclosure in this news release of scientific and technical information regarding LIFT's mineral properties has been reviewed and approved by Ron Voordouw, a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101). About LIFT LIFT is a mineral exploration company engaged in the acquisition, exploration, and development of lithium pegmatite projects located in Canada. The Company's flagship project is the Yellowknife Lithium Project located in Northwest Territories, Canada. LIFT also holds three early-stage exploration properties in Quebec, Canada with excellent potential for the discovery of buried lithium pegmatites, as well as the Cali Project in Northwest Territories within the Little Nahanni Pegmatite Group. For further information, please contact: Cautionary Statement Regarding Forward-Looking Information Certain statements included in this press release constitute forward-looking information or statements (collectively, 'forward-looking statements'), including those identified by the expressions 'anticipate', 'believe', 'plan', 'estimate', 'expect', 'intend', 'may', 'should' and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under 'Risk Factors' in the Company's latest annual information form filed on March 21, 2025, which is available under the Company's SEDAR+ profile at and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press view the source version of this press release, please visit
Yahoo
03-07-2025
- Business
- Yahoo
LIFT Announces Commencement of Exploration Activities at the Cali Lithium Project, NWT
Vancouver, British Columbia--(Newsfile Corp. - July 3, 2025) - Li-FT Power Ltd. (TSXV: LIFT) (OTCQX: LIFFF) (FSE: WS0) ("LIFT" or the "Company") is pleased to announce commencement of exploration activities set for the 17th of July 2025, at the Cali Lithium Project in the Northwest Territories, Canada (Figure 1). The Cali project is located towards the northwest end of the Little Nahanni Spodumene Pegmatite Group, comprising numerous spodumene dykes emplaced within a structural corridor that is at least 13 km long and 100's of meters wide. Prospecting and sampling of this corridor in the summer of 2023 confirmed several contiguous and parallel dyke zones between 100 to 300 meters wide (Figure 2). LIFT's 2023 work also confirmed that many of the dykes contain coarse spodumene crystals, with rock sampling returning grades up to 3.04% Li2O. In 2024, LIFT staked an additional 9,681 hectares covering the corridor further to the northwest following the approval of an amendment to the Sahtú Land Use Plan (the Nááts'ı̨hch'oh Amendments) which allows for exploration staking and potential future development of the dyke corridors (see press release dated September 3, 2024). The 2025 work program will focus on the unrealized potential of the Little Nahanni structures extending into the newly acquired claims, as well as the collection of trench and metallurgical samples in the established mineralization zones identified in the 2023 work program (Figure 2). Figure 1 - Location of LIFT's Cali Project. To view an enhanced version of this graphic, please visit: Proposed work plan 2025 A total of 1,100 m of trenching is planned in zones of high grade spodumene mineralization mapped and sampled in 2023 (Figure 2, inset map). Trenches will be opened perpendicular to the dyke corridors to help understand grade and width continuity in preparation for future drill testing. Additional bulk metallurgical samples of the dykes will be collected for early-stage information on spodumene recovery by dense media separation (DMS). An area of 1,877 hectares immediately northeast of the trenching program (Figure 2) has also been selected for prospect mapping and sampling in the 2025 program. High-resolution LiDAR and orthophoto interpretation of this area has identified continuity of the Cali dykes to the northwest and thereby also high potential for spodumene mineralization. Field teams will focus on the fertility of these zones through collection of detailed geochemical and mapping data for future follow-up trenching and metallurgical studies. Figure 2 - Location Map of 2025 surface program. To view an enhanced version of this graphic, please visit: Francis MacDonald, CEO of LIFT comments, "The 2025 exploration program will significantly advance the understanding and economic potential of the Cali Lithium Project. By integrating trenching, metallurgical testing, and extensive prospecting across underexplored extensions of the spodumene corridors, LIFT aims to position the project for potential future resource delineation. We believe that the Cali Project could eventually be a significant source of spodumene in western Canada." Qualified Person The disclosure in this news release of scientific and technical information regarding LIFT's mineral properties has been reviewed and approved by Ron Voordouw, a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101). About LIFT LIFT is a mineral exploration company engaged in the acquisition, exploration, and development of lithium pegmatite projects located in Canada. The Company's flagship project is the Yellowknife Lithium Project located in Northwest Territories, Canada. LIFT also holds three early-stage exploration properties in Quebec, Canada with excellent potential for the discovery of buried lithium pegmatites, as well as the Cali Project in Northwest Territories within the Little Nahanni Pegmatite Group. For further information, please contact: Francis MacDonaldChief Executive OfficerTel: + 1.604.609.6185 Email: investors@ Daniel GordonInvestor RelationsTel: +1.604.609.6185Email: investors@ Cautionary Statement Regarding Forward-Looking Information Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors" in the Company's latest annual information form filed on March 21, 2025, which is available under the Company's SEDAR+ profile at and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News.com.au
20-06-2025
- Business
- News.com.au
Monsters of Rock: The shape of the lithium recovery, plus copper investments ramp up Down Under
Lithium prices remain subdued, but demand continues to rise Could deficit send spodumene prices back to US$1500/t next year? Copper investments ramp up as ASX options dry up Lithium prices remain very sick indeed, with lithium carbonate barely trading above US$8000/t and spodumene concentrate, the kind of product shipped to China by WA's hard rock miners, down around US$612.50/t, according to Fastmarkets. Few miners make enough cash at those prices to generate a profit, certainly not once capital costs are accounted for. June quarterlies will make for curious reading. There's more negativity on the supply side with the entry of Chevron into the Smackover Formation, a potential oil field brine source of lithium all the energy supermajors are keen on as they look to hedge their oil and gas businesses with exposure to 'new energy'. At the same time demand is still surging. China's Ministry of Industry and Information Technology reported a 68% lift in lithium ion battery output in the first four months of 2025 to 473GWh, with export values up 25% to US$21.6bn. With demand for lithium continuing to grow, a modest deficit could emerge soon, some analysts say. "Spot spodumene prices have continued to decline and we have lowered our near-term price outlook to reflect this. We believe a price recovery is likely to be rapid once the market swings to a modest deficit, but the cycle is likely to be shorter given the volume of brownfield capacity that can be brought on-line, largely in Australia," Argonaut head of research Hayden Bairstow said in a note to clients. "We now expect spot spodumene prices to peak at US$1500/t in late 2026, which is likely to trigger a re-start of existing capacity. A return to a balanced market is then forecast for 2027 before the widening deficit pushes prices higher in the long-term. The changes have driven material cuts to earnings for the spodumene miners. We retain our positive view on the sector, with most stocks factoring in weaker spot prices for longer." Argonaut has buy labels on Pilbara Minerals (ASX:PLS), IGO (ASX:IGO) and Liontown Resources (ASX:LTR), with spec buys on Core Lithium (ASX:CXO), Wildcat Resources (ASX:WC8) and Patriot Battery Metals (ASX:PMT), the latter upgraded from a hold in the most recent update. Watch this space. Aussie copper investments accelerate ASX copper investors are facing a conundrum with more and more options taken off the table and heading overseas. Those that do remain in Aussie hands are trying to ramp up as many investments as they can to hit some sort of critical mass. On the outta here list are New World Resources (ASX:NWC) and MAC Copper (ASX:MAC), though there is at least some intrigue emerging at the former. While MAC Copper is yet to pull in competition to Harmony Gold's $1.6bn bid for it and the CSA copper mine in Cobar. But PE firm Kinterra Capital has emerged as a potential challenger to NWC's takever by Central Asia Metals. The bid from CAML was ratcheted up from 5c to 5.3c, lifting its consideration from $185m to $197m, with CAML also making a $10m placement at 5.3c (~5% of NWC) to meet bonding requirements on a quicker than expected Arizona state permitting timeframe for its Antler mine in the US state, as long as no competing proposal is lodged before COB on July 4. Kinterra, which recently emerged with a ~12% stake in NWC, has taken its grievance over the placement to the Takeovers Panel, which has yet to make any interim orders. Meanwhile, capital is being splurged from the top to the bottom of the mining sector on the critical mineral, expected to play a major role in the expansion of green energy and modern technologies. BHP (ASX:BHP) this week announced plans to spend $1.5bn in an arrangement with logistics provider Aurizon Holdings (ASX:AZJ), which will see much of its haulage of copper concentrate, cathode and inbound freight shift from road to rail haulage between Pimba and Port Hedland. Rail's a lot more efficient, creating cost savings as BHP looks to nearly double the scale of its SA copper business, including Olympic Dam, Carrapateena and Prominent Hill by the mid 2030s to 500,000tpa. The mining giant says 13m kilometres of truck movements will be taken off SA's regional roads annually, or 11,000 total truck movements. At a far smaller scale, AIC Mines (ASX:A1M) in Queensland has announced a $55m placement and US$40m prepayment facility ($61m) with Trafigura, which will be used to complete a $77.6m plant expansion led by GR Engineering Services (ASX:GNG) for its Eloise copper mine. The development will grow the Eloise plant from 725,000tpa to 1.1Mtpa to increase its production capacity from ~12,500tpa of copper to 20,000tpa after commissioning in the December 2026 quarter. It will also include the installation of oversized equipment, enabling the company to ramp up to a processing rate of 1.5Mtpa in the future. This all comes as the Queensland government mulls the future of the nearby Mt Isa copper complex, with the underground mine owned by Glencore set to close in the coming month and work now going on both behind and in front of the scene to keep the smelter that is the lifeblood of the town – known as Stack City for its iconic candy striped smoke stack – open up to and beyond its planned closure date in 2030. The ASX 300 Metals and Mining index fell -4.36% over the past week. Which ASX 300 Resources stocks have impressed and depressed? Making gains Capricorn Metals (ASX:CMM) (gold) +11.2% IperionX (ASX:IPX) (titanium) +9.2% Adriatic Metals (ASX:ADT) (silver) +8.6% Newmont Corporation (ASX:NEM) (gold) +7.9% Eating losses Patriot Battery Metals (ASX:PMT) (lithium) -17.9% ioneer (ASX:INR) (lithium) -16.5% Coronado Global Resources (ASX:CRN) (coal) -16.7% Vulcan Steel (ASX:VSL) (steel) -14.8%
