- Petrolympic (PCQ) has acquired 52 mining claims covering about 6,981 acres in the James Bay-Eeyou Istchee area of Quebec
- The claims are adjacent to the eastern edge of the Moblan Deposit, owned by Sayona Mining Limited
- Petrolympic engages in the acquisition, exploration, and development of petroleum light crude oil and natural gas properties in North America
- Petrolympic Ltd. (PCQ) is up 7.69 per cent, trading at C$0.07 per share at 9:40 am ET
Petrolympic (PCQ) has acquired 52 mining claims covering about 6,981 acres in the James Bay-Eeyou Istchee area of Quebec.
The claims are adjacent to the eastern edge of the Moblan Deposit, owned by Sayona Mining Limited. It is approximately 125 km North of the town of Chibougamau, Quebec. It is accessible year-round by the Route du Nord. This new project is located in a proven lithium mining province which hosts established lithium resources. It hosts the Whabouchi mine to the North and the North American Lithium project to the South.
The first group of claims is called the Li-1 Property. It is part of the Troilus Belt and consists of two blocks totalling 24 claims. The second group of claims is called the Li-2 Property and consists of 28 claims. It is adjacent to a project currently developed by Brunswick Exploration and is to the South of the Whabouchi lithium project. Nemaska Lithium is developing the project as an open-pit and underground operation.
Both Properties are located in the western Superior Province. It lies within the eastern part of the Opatica Sub-province, in the Archaean Frotet-Evans greenstone belt. The company expects to start the initial phase of the exploration program soon. It will focus on mapping the presence of lithium-bearing pegmatites in the Properties.
With the addition of these two properties, Petrolympic now holds 200 claims prospective for lithium in Quebec.
Petrolympic engages in the acquisition, exploration, and development of petroleum light crude oil and natural gas properties in North America.
Petrolympic Ltd. (PCQ) is up 7.69 per cent, trading at C$0.07 per share at 9:40 am ET.
