Lithium explorer and developer Winsome Resources (ASX: WR1) announced Thursday the signing of an option agreement to expand its Adina lithium project in Quebec to 44 sq. km, a 50% increase, as it prepares for an initial resource this year.
The agreement would allow Winsome to acquire the 29 claims in the bordering Jackpot property and expand its total tenure in the James Bay area to more than 871.5 sq. km, the Perth-headquartered firm said in a release.
“With Adina moving into a development phase later this year, taking an option on attractive terms over the Jackpot property is a strategic move to not only give us access to further exploration upside around Adina but also flexibility in future design of site layout and infrastructure footprints,” said Winsome managing director Chris Evans.
“Work continues apace with plans for mobilization of the fourth rig to the Adina site and we look forward to further drilling results in the near future as we look towards our maiden resource later in 2023.”
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