Lion Rock Resources acquires Gold-Lithium Volney Project, South Dakota
Lion Rock Resources Inc. [TSXV: ROAR; FSE: KGB] reported that it has entered into an option agreement dated October 7, 2024 with Tinton Partners and The Tinton Land, LLC, pursuant to which the optionor granted the company the exclusive right and option to acquire an undivided 100% interest in the Volney property, a high-grade gold-lithium project, located in the northern Black Hills of South Dakota.
The Volney Project is comprised of 38 private claims extending over 351 acres (142 ha) and features two predominant styles of mineralization: shear-hosted gold and lithium-tantalum-tin within the pegmatites. The Volney Project hosts the Giant Volney Pegmatite (Li) and numerous historic workings including Rusty Mine (Au), Rough and Ready (Sn) and Hydliff Adit (Au). Historic results include 18.2 g/t gold over 18.3 metres in channel sampling at Rough and Ready and 15 grab samples with an average grade of 4.4% Li2O at the Giant Volney pegmatite.
Dale Ginn, President and CEO of Lion Rock, stated, “The Volney Project is unique in that it contains multiple commodities including gold, lithium, tantalum and tin, all of which are of a high-grade nature and near surface. The gold system runs the full length of the property and contains numerous shallow trenches, pits and other workings, but is remarkably absent of any meaningful drilling or recent exploration work. The fact that the entire project lies on private land and is road accessible year-round, decreases permitting time and allows for a timely and aggressive exploration program.”
Gold was discovered and mined in alluvial drainage below the Volney Project in the late 1800’s. Rusty Mine, Hydliff and Giant development and workings followed. The Rough and Ready Mine was primarily a Tin producer, however extensive drifting and development for gold was undertaken in the adjacent sheared amphibolite unit. The Giant Volney Mine consists of both surface and underground workings with high grade concentrates of Lithium and Tantalum produced in the 1940’s. Limited and sporadic exploration for gold and lithium occurred in the 1960’s and 1970’s, and no significant exploration has taken place since.
The Volney Project is comprised of 38 private land claims totaling 142 ha in the Black Hills. The property is located 20 km south of Spearfish, South Dakota and approximately 15 km west of Leads. Pegmatites are within a Neoarchean greenstone belt, featuring the Giant Volney pegmatite, historically mined for tin. The property is accessible by road and strategically located with proximity to infrastructure and major mining jurisdiction.
Lion Rock Resources Inc. is a brownfields exploration company focused on the Maybrun Copper-Gold Project in northwestern Ontario, approximately 80 km from New Gold’s Rainy River Gold Mine and 15 km from First Mining Gold’s Cameron Lake Project. The company also holds properties prospective for lithium in Ontario and Quebec.