Libra Energy hires Laurentia for recon at Wegucci

Executive Summary

• Libra Energy Materials Inc. has commissioned Laurentia Exploration to commence a maiden reconnaissance prospecting program across its James Bay Lithium District in Quebec.
• The program focuses on two 100%-owned projects: the newly staked Wegucci project (along strike of Rio Tinto's Whabouchi deposit) and the Nemiscau project (18 km south of Cygnus Metals' Pontax deposit).
• Fieldwork will include geological mapping, sampling, and evaluation of priority targets identified via satellite imagery, with potential visits to unowned projects for future acquisition consideration.

Key Details

• Contractor: Laurentia Exploration.
• Wegucci Project:
  • Location: Lac des Montagnes volcanic-sedimentary belt, Opatica subprovince, James Bay region, Quebec.
  • Size: 2,070 hectares.
  • Strategic Context: Located along the same major structure and subprovince boundary hosting Rio Tinto's Whabouchi lithium deposit and other lithium-cesium-tantalum pegmatite occurrences.
  • Geology: Composed of mafic volcanic units, biotite-garnet paragneiss, and biotite-hornblende sedimentary units. The contact with the sedimentary unit is a major regional structure controlling lithium mineralization.
  • History: No known historical work focusing on lithium exploration.
  • Targets: Preliminary desktop work using satellite imagery identified large white outcrops over 30 meters in width, interpreted as potential pegmatites, which are priority targets for the field program.
• Nemiscau Project:
  • Location: Eastmain subprovince, Northern Quebec, approximately 18 km south of Cygnus Metals' Pontax lithium deposit.
  • Size: 2,454 hectares.
  • Geology: Rose pegmatitic granite in contact with biotite-bearing granite (west) and quartz monzodiorite (east).
  • History: Historically mapped; only the southern area has government mapping confirming pegmatites between 10 to 100 meters in width.
  • Focus: Visiting historically mapped pegmatites and exploring several unexplored outcrops elsewhere on the property.
• Infrastructure: Both projects benefit from proximity to infrastructure, being within 22 km of the nearest road.
• Qualified Person: Benjamin Kuzmich, PGeo, Vice-President of Exploration, reviewed and approved the scientific and technical information.
• Contextual References:
  • Whabouchi resource data sourced from Rio Tinto technical report (Sept 30, 2022).
  • Pontax resource estimate (10.1 Mt at 1.04% Li2O) sourced from Cygnus Metals announcement (Aug 14, 2023).

Notable Quotes

• "This program marks our first time getting boots-on-the-ground in Quebec. Our 100-per-cent-owned Wegucci and Nemiscau projects are both located in the highly prospective region of James Bay, where some of the world's most significant lithium discoveries have made. Nemiscau is a project we have held since 2023, while Wegucci is a newly staked property along trend of Rio Tinto's Whabouchi deposit. In addition to their prospectivity, both projects benefit from proximity to infrastructure, including being within 22 km from the nearest road. We are very excited to test the prospectivity of these projects in due course," said Koby Kushner, chief executive officer of Libra Energy Materials.