Impact: Neutral
Brunswick reported the final set of assays from the Phase 3 (4,871m) drill program completed at its 100%-owned Mirage Li-pegmatite project in the James Bay region of Quebec. The current results are from 18 holes, mostly at dykes MR-3 and -6 at the Central zone (Figures 1 and 2), with a highlight intercept of 1.40% Li2O over 56.0m (MR-24-91). Notably hole -92, at the MR-4 dyke in the relatively underexplored South zone, returned 3.3% Li2O over 14.1m, the second best (% Li2O × drilled thickness) intercept of this batch of results. The Phase 3 drill program has been successful in meeting its objective of expanding the footprint of mineralization at the previously identified MR-3 and MR-6 dykes in the Central zone. The continued expansion of the relatively high-grade, MR-4 dyke in the South zone is also encouraging. After ~17,000m of drilling over the identified dykes, for now, management might find the marginal return of exploration in the Central zone to be lower than untested targets. We look forward to the winter 2025 drill program planned to target previously untested areas at Mirage and a large, grassroot exploration program at the promising, Nuuk license in Greenland (read notable).