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Lithium Royalty Corp. (TSX: LIRC) has announced a significant mineral resource discovery at the Adina Lithium Project in Quebec by Winsome Resources Limited. An impressive maiden inferred mineral resource of 59 million tonnes at 1.12% lithium oxide (Li2O), with a 0.6% cut-off, positions Adina as the fifth largest deposit in the province.
Remarkable Lithium Resource at Adina Project
Ernie Ortiz, President and CEO of LRC, highlights the Adina Project’s strategic importance to the North American lithium supply chain. The coarse-grained ore is readily accessible, suggesting extensive resource growth potential. With 27,625 meters of drilling across 93 drill holes supporting a 1.34km strike length, the project’s significance is undisputed. The deposit remains open, promising further exploration to the east, west, north, and at depth.
Expanding Adina Project’s Mineral Resource
With A$60m in funding, Winsome targets an expansive 50,000m drilling program in 2024. The exploration aims to build on the current mineral zone, boasting a potential strike length of 3.1km. Positive drill results from ongoing operations may significantly bolster the resource estimate, fueling a pre-feasibility study by the following year.
Lithium Royalty Corp’s Strategic Benefits
The discovery showcases LRC’s strategic investments in high-grade, low-cost assets. Holding a 4.0% GOR and 2.0% NSR for certain claims, LRC stands to benefit significantly from the Adina Project’s development with projected annual revenues tied to spodumene concentrate production.
About Lithium Royalty Corp.
LRC, a signatory to the Principles for Responsible Investment, is a lithium-focused royalty company. The firm’s portfolio comprises 34 revenue royalties on mineral properties poised to contribute to the global economy’s electrification and decarbonization, with a presence in key regions including Australia, Canada, South America, and the United States.
Contact Information for Inquiries:
Jonida Zaganjori, Investor Relations, (647) 792-1100
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