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Access to potential mineral deposits, partnerships with First Nations vital
A number of new mineral exploration drilling projects have begun this winter, including what is likely the largest lithium exploration project in the province, as Manitoba continues to lag other provinces with similar geologies in exploration activity.
At least two companies are starting lithium exploration work close by the Tanco lithium mine near Lac du Bonnet, the oldest lithium producer in the country and only the second operating mine. New Age Metals Inc. has commenced a 15,000 metre program, funded by is joint venture partner, Mineral Resources, an Australian company that is the fifth largest lithium producer in the world.
Late last year Snow Lake Lithium acquired a property right next to Tanco and will be using some of its $7.7 million recently raised to explore that property. Frank Wheatley, the president of Snow Lake Lithium, said, “As they often say in the mining industry, the best place to look for a mine is beside an existing one.”
Snow Lake is also on schedule to produce a pre-feasibility study on its property in Snow Lake whose resource has an estimated net present value of $1.7 billion.
For the rest of this article: https://www.winnipegfreepress.com/business/2024/01/16/manitoba-mining-industry-looks-to-the-future