The Margot Lake project is in north-western Ontario, in the premium lithium region of Ontario’s Red Lakes Mining District. Notably, the highly competitive district where the project is situated is labelled “Electric Avenue” due to recent major discoveries by Frontier Lithium Inc. (TSX-V: FL), Market Capitalisation of A$500M. The Margot Lake Project is situated 16km southeast of Frontier Lithium’s PAK Deposit which contains 9.9Mt at 2.0% Li2O, and 18km away from Frontier’s Spark Deposit, which contains an indicated 18.8Mt at 1.52% Li2O and an inferred resource of 29.7Mt at 1.34% Li2O. The Company’s Margot Lake Project contains nine confirmed pegmatites and displays similar regional geology to major resources within the immediate area.
Figure 1: Margot Lake Lithium Projects proximal to Frontier Lithium (TSX:FL) PAK and Spark deposit
The Margot Project hosts two mica peraluminous granite in contact with metasediments. Historic mapping at the Margot project area by the Ontario Geological Survey (OGS) has identified several occurrences of Mica-Granite Pegmatites and Granodiorite Pegmatites
Figure 2: Margot Lake Lithium Projects – regional mapping of pegmatitic dykes