Mont Royal Resources Ltd (ASX:MRZ) Confirms Positive Lithium Drilling Results
Drilling Achievements
Mont Royal Resources Ltd (ASX: MRZ) reported assay results from its Bohier Lithium Project in Canada, confirming an extensive lithium mineralised zone. The results from eight holes drilled during the 2024 summer program highlighted significant intersections, including 21 metres at 1.39% Li2O in hole BOH-24-07 and 7.65 metres at 1.89% Li2O in hole BOH-24-06.
Geological Insights
The mineralisation appears to extend continuously over a strike length of 200 metres and to a depth of 70 metres. Mont Royal’s Executive Director, Pete Ruse, stated, “The results are encouraging and validate our exploration potential for the Bohier Project.” Further exploration targeting is being planned, expanding the structural model based on these assay results.
Project Developments and Financial Position
The report noted that Mont Royal has decided not to continue with its option on the Wapatik Gold-Copper Project due to mixed drilling results. The company ended the December quarter with $1.75 million in cash, alongside a tax rebate of $534,000 from the Quebec government, expected to bolster its exploration efforts.
Future Exploration
The next phase of exploration will target untested anomalies around the Bohier Project. Reconnaissance work at the Léran Project has identified new targets for follow-up exploration at the Petit Léran prospect, strengthening the company’s strategic focus on lithium mineralisation in Quebec.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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