Source: Junior Mining Network
  • Gama Explorations (GAMA) signed an option to acquire a 100-percent interest in the Muskox Lithium Property
  • The property is located in the Yellowknife Pegmatite Province in the Northwest Territories
  • A large portion of the 50-square-kilometre project area remains under-explored
  • The potential to identify additional lithium-bearing pegmatites remains high
  • Gama Explorations is up 25.42 percent, trading at $$0.74 at 2:55 p.m. EST

Gama Explorations (GAMA) signed an option to acquire a 100-percent interest in the Muskox Lithium Property.

The property is located in the Yellowknife Pegmatite Province in the Northwest Territories.

Recent channel sampling from the area last year produced average grades of 1.34 percent lithium oxide over 5 metres and 1.26 percent over 11 metres.

A large portion of the 50-square-kilometre project area remains under-explored, and the potential to identify additional lithium-bearing pegmatites remains high.

“The Muskox Property represents a new pillar for our 2023 exploration program, diversifying and growing our asset base with projects now focused on lithium, nickel and copper. The Yellowknife Pegmatite Province is a highly prospective and sought-after jurisdiction for lithium deposits making the Property a significant addition to our portfolio. This represents a tremendous value creation opportunity for shareholders, being in a top global mining jurisdiction with an established endowment of hard rock lithium. We look forward to building upon the historic work done on this asset and creating value through further exploration and delineation of its potential,” said CEO Dr. Mick Carew.

The larger area surrounding the project comprises occurrences of spodumene-rich pegmatites over an area of more than 5,000 square kilometres. 

Gama Explorations is up 25.42 percent, trading at $$0.74 at 2:55 p.m. EST.


More From The Market Online
Valeura Energy

Valeura Energy strikes three new oil discoveries

Valeura Energy (TSX:VLE) announces three oil discoveries offshore the Gulf of Thailand that can potentially create further shareholder value.

Cybeats signs cybersecurity deal with top European telecom leader

Cybeats (CSE:CYBT) stock opens more than 50 per cent higher on Monday on news of its cybersecurity deal with a top European telecom leader.

Steppe Gold to be Mongolia’s leading producer after Boroo acquisition

Steppe Gold Ltd. (TSX:STGO) signs a definitive share exchange agreement to acquire all issued and outstanding common shares of Boroo Gold.

Power Nickel reveals assay results from NISK Project

Power Nickel Inc. (TSXV:PNPN) reveals assay results from a new discovery zone at its NISK Project in Quebec.