Brunswick Exploration Intercepts 202 Metre-Wide Spodumene-Bearing Pegmatite Interval at the Anatacau Main Project
Brunswick identified a 202m wide zone of spodumene at depth, though assay results for the interval are currently pending.
Brunswick Exploration Inc. (BRW) has released visual drill results from hole AN-26-15 at its Anatacau Main Project in Quebec’s Eeyou Istchee James Bay region. The company states it is issuing this update without assay results because management believes the visual data indicates a highly material size.
The headline intercept consists of 202.45 metres of visually estimated spodumene-bearing pegmatite. Average visual spodumene content is estimated at 25%, with local visual estimates reaching as high as 35%. This interval is not continuous; the data shows eleven separate pegmatite intervals between 171.65 metres and 476.70 metres downhole. The largest single sub-interval measures 96.95 metres, extending from 298.40 to 395.35 metres. Other separate intervals include 21.50 metres, 17.40 metres, 12.85 metres, and 8.90 metres, all of which are also visual only.
Management reports that the hole extends the Anais dyke to a vertical depth of 300 metres, representing a 130-metre down-dip step-out. The Anais dyke footprint is now described as 650 by 350 metres and remains open in all directions.
Assays are pending for all holes drilled so far in the current program, which includes two holes totaling approximately 800 metres. Hole AN-26-16 is currently in progress to test for down-dip thickening.
Brunswick Exploration Inc. (BRW) is a pre-revenue junior explorer holding an inferred resource at Mirage but no resource at Anatacau Main. The Mirage inferred resource stands at 52.2 million tonnes at 1.08% Li2O, while Anatacau Main remains an exploration-stage discovery.
The equity is valued at roughly C$39.5 million based on the latest share count and a C$0.14 share price. The stock has fallen from a 52-week high of C$0.38 in January 2026 to C$0.14 on September 16, 2026, near the 52-week low of C$0.11. The market has already round-tripped the earlier Anatacau discovery and the Mirage resource, meaning the earlier anchor results are not currently embedded in the price.
Against that depressed price, a genuine step-out to 300 metres depth with a thick visual spodumene system is positively differentiated from what the market appears to be pricing. However, grade is the critical uncertainty, and this is a single pre-assay visual hole. The scale thesis has been strengthened, but the economic thesis has not yet been confirmed.
Montreal-based Brunswick Exploration Inc. (BRW) is a mineral explorer focused on grassroots hard-rock lithium. The company’s assets include the Mirage and Anatacau properties in Quebec, Nuuk and other targets in Greenland, and an early-stage program in Saudi Arabia.
Mirage holds a maiden inferred resource of 52.2 million tonnes at 1.08% Li2O and 131 ppm Ta2O5. Anatacau Main is the discovery-stage asset discussed in this release. The company has no revenue and remains in the exploration stage.
As of March 31, 2026, cash was approximately C$6.5 million and working capital was approximately C$6.5 million. Management has disclosed that current working capital will not be sufficient to meet obligations through March 31, 2027 without additional financing.