Nov 12, 2024

Mont Royal Resources Hits 21m @ 1.39% Li2O at Bohier Lithium Project, Quebec

Introduction:

Mont Royal Resources Limited (ASX: MRZ) (Market Cap: $4M | Last Close: $0.045 | Cash: ~$1.65M) has reported significant lithium assay results from its 2024 summer drilling program at the Bohier Lithium Project in Quebec, Canada, highlighted by 21 metres at 1.39% Li2O.

Drill Results:

21m @ 1.39% Li2O from 47.6m (BOH-24-07)
7.65m @ 1.89% Li2O from 22.75m (BOH-24-06)‍
1.45m @ 2.79% Li2O from 26.95m (BOH-24-02)

Project Overview:

The Bohier Lithium Project is located in the world-class James Bay region of Quebec, Canada. The project comprises part of Mont Royal's 536 km2 tenement package in the Upper Eastmain Greenstone belt. The James Bay area is considered an emerging Tier-1 mining jurisdiction, prospective for lithium, precious metals, and base metals.

The recent drilling has confirmed a significant zone of lithium mineralization continuous over a strike length of 200 metres and to a depth of 70 metres. The mineralized zone remains open laterally and possibly at depth.

Program Details:

The maiden drilling program comprised eight holes totaling 744 metres. It primarily targeted the main BHP-2 pegmatite near previously identified surface exposure and its western extension. One hole (BOH-24-05) targeted the BHP-3 gravity anomaly and the BHP-2 gravity anomaly at depth. The program has significantly enhanced understanding of the geology at Bohier, which will underpin a new structural model for future exploration targeting.

Understanding These Results:

The assay results indicate continuous lithium mineralization over a significant strike length and depth. The intersections suggest a south-east dipping dyke, likely folded at depth, which represents an evolution in the understanding of the local geology from previous field work.

Thickness variations of the mineralized zones and grade changes within an 11-15 metre-thick dyke are visible and expected in this type of geological environment. The absence of pegmatite in some holes and its presence in others suggests lateral changes in the dyke's dip, which will inform future drilling strategies.

Management Commentary:

Mont Royal Executive Director, Peter Ruse, stated:

“These are very positive results from our initial drilling program at Bohier, with assays indicating that the lithium mineralisation is continuous over a strike length of 200 metres and to a depth of 70 metres, with the mineralised zone remaining open laterally and possibly at depth. The results have significantly enhanced our understanding of the geology at Bohier, which will underpin a new structural model for future exploration targeting.”

Next Steps & Catalysts:

The 3D analysis of the drill core suggests rapid changes in the dip of the dyke. The next phase of exploration will include drilling of untested targets, with drill holes located on both sides of the targeted anomalies to increase the chances of success.

The company plans to continue exploration activities to expand the known mineralized zones and test new targets within the project area.

Commodity Outlook:

Lithium remains a critical mineral for the global transition to clean energy, particularly for electric vehicle batteries. The James Bay region of Quebec is emerging as a significant lithium province, benefiting from excellent infrastructure and a supportive mining jurisdiction. The continued exploration success in this area could contribute to securing future lithium supply chains.

Conclusion:

The initial drilling results from Mont Royal Resources' Bohier Lithium Project have confirmed lithium mineralization over notable widths. With the mineralized zone remaining open and several targets yet to be tested, the project demonstrates potential for further growth.

Sources:

MRZ Drill Results Announcement

Additional Figures:

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Nov 18, 2024