High Tide Resources acquires Clearcut Lithium project

The property consists of 249 claims covering approximately 14 400 hectares within a network of logging roads allowing for good access and reduced exploration costs. Quebec MERN Report DP-338 issued in 1975 indicates that the property is underlain almost entirely by granite with pegmatite.

Steve Roebuck, Director, President & Interim CEO of High Tide, comments:

“Adding the Clearcut Lithium project to High Tide’s project portfolio is a low-risk and potentially high-reward opportunity for all our shareholders. Lithium is in high demand making Clearcut a natural fit alongside our Lac Pegma Copper-Nickel-Cobalt Project that further diversifies our battery metals projects along with our flagship Labrador West Iron Project.”

Companies already active in the Cadillac-Pontiac camp include Winsome Resources, Sayona Mining, Vision Lithium, Brunswick Exploration, and Renforth Resources. On 22 February 2022, Vision Lithium reported 2.17% Li2O over 5.5 m from a channel sample taken from its nearby Cadillac Lithium Property confirms the presence of spodumene-bearing pegmatite dykes in the Cadillac-Pontiac camp.

Increasing worldwide demand for lithium from the nascent battery sector has focused exploration on areas of historical pegmatite-type lithium deposits. Since 2016 Sayona Mining Ltd has accelerated exploration and development of the Authier lithium deposit and the recently acquired, past-producing North American lithium mine in the Preissac-Lacorne-Lamotte area located just 20 km to the north of the Cadillac-Pontiac camp. This advanced activity has resulted in a keen interest in the lithium potential of Cadillac-Pontiac, where traditionally there has been very little exploration due to the focus on the rich gold and volcanogenic-type base metal deposits found in the prolific Abitibi Greenstone Belt lying just to the north.

Read the article online at: https://www.globalminingreview.com/mining/18072022/high-tide-resources-acquires-clearcut-lithium-project/