Grit Metals samples high-grade lithium at Tarikko Pegmatite Prospect, Finland
Grit Metals Corp. [TSXV: FIN; FSE: K9T] reported additional high grade assay results from Lithium-Cesium-Tantalum (LCT) pegmatite mineralization on its exploration licenses at its Central Finland Lithium Project.
Key Takeaways: All assay results now received including the final batch of 150/660 total samples. Grab sample from spodumene bearing pegmatite assayed of 5.60% Li2O at Tarikko Prospect.
Jylhä South-Southwest: Several large boulders up to 1.5 metres in diameter with visible spodumene were discovered adjacent to the Mōrkylā Prospect where 15 large boulders up to 4 metres in diameter with visible spodumene were discovered over a 275-metre distance assayed from 0.004% to 2.46% Li2O.
Jylhä South-Southwest: Three areas of new spodumene bearing pegmatite mineralization have been identified in the southern portion of the Jylhä license.
Approximately 225 metres east of the Mōrkylā Prospect, a 1.2×1.0x0.7 metre boulder assayed 0.94% Li2O. Mōrkylā is a 275-metre-long northwest-southeast trend of 15 large boulders and blocks of spodumene-bearing pegmatite. Individual boulders are over 4 metres in diameter and contain course visible spodumene. The boulders assayed from 0.004% to 2.46% Li2O, averaging 0.54% Li2O.
Approximately 1.7 km southwest of Morkyla a couple of spodumene-bearing boulders assayed 0.11% and 2.13% Li2O. These boulders occur approximately 300 metres southeast of a 3-metre diameter boulder that assayed 1.47% Li2O. These boulders form another trend of mineralization that potentially has an up-ice source within the Jylha license.
Approximately 1.6 km south of Morkyla another cluster of spodumene pegmatite boulders occurs. Highlight of this cluster is a 1.5×1.5×1.0m boulder that assayed 0.62% Li2O.
Tarikko Prospect: At the company’s Koura Project located in the Seinajoki Lithium-Tin Belt a grab sample of an outcrop of an LCT pegmatite assayed 5.60% Li2O. The width and strike length of the pegmatite are unknown at this time. Koura occurs approximately 100 km south of the companies main group of licenses in the Kaustinen Lithium Tract.
The company’s projects are in the Kaustinen-Seinajoki region, highly prospective for LCT pegmatite deposits, as evidenced by the success of the Geological Survey of Finland (GTK) and subsequently Keliber Oy in discovering significant Li-bearing spodumene pegmatite prospects and deposits in the region.
The company’s success in identifying widespread spodumene-rich LCT pegmatitic boulders is very encouraging, as the area is topographically flat and extensively covered by a thin veneer of glacial overburden.
It is important to note that all the significant deposit and prospect discoveries (with one exception) in the belt were found by tracing boulders back to source and identifying the source ultimately through drilling. The GTK/Keliber Oy discoveries demonstrate that boulders are generally located within 300 – 500 metres of their source suggests excellent potential for discovery on the company’s licenses.
“Through multiple phases of exploration our team continues to discover new, highly prospective areas of LCT mineralization which has led to a tripling of our project size,” commented Jeremy Poirier, CEO. “This is a testament to the strength of our exploration team in their ability to discover the expressions and ultimately the source of these lithium rich deposits. Our exploration program remains fully-funded and continued until the end of October. The company will review all assays and determine next steps. Including the selection of multiple drill targets.”
Grit Metals is focused on the Lithium-Cesium-Tantalum Finnish Pegmatite Project, central Finland. One of the key components is access to REE and, specifically, lithium. The company’s exploration licenses are located within 1 km of the Keliber mine and production complex, currently under construction and expected to begin production in H2 2025.
An estimated €600 million investment by Keliber’s parent company Sibanye-Stillwater Limited [NYSE: SBSW] in partnership with the Finnish Minerals Group is underway in the Kautinen Region and will see the development of open-pit and underground mining from several deposits, construction of a central spodumene concentrator plant and a lithium hydroxide chemical plant at tidewater in Kokkola. When completed, this complex will comprise a complete hard-rock spodumene pegmatite lithium supply chain.
The company also has several 100%-owned precious metals projects in Northern Finland. They are located in the Paleo-Proterozoic Greenstone Terrane of Northern Finland comprised of multiple greenstone belts including the CLGB which hosts world-class gold (eg Kittila Deposit, owned by Agnico Eagle and Ikkari Deposit, owned by Rupert Resources) and base metal deposits (eg Kevitsa owned by Boliden and Sakatti owned by Aglo-American). The belt’s potential is also suggested by the presence of several major mining companies in the belt.