Brunswick Exploration (TSXV: BRW) is cutting its losses across three provinces following unsuccessful exploration programs in the search of lithium. The explorer this morning reported that it will be focusing its future efforts on landholdings in Quebec.
“With the recently announced discovery at our Mirage Project and in tandem with the limited exploration success in Central and Western Canada, we have decided to pause all activities in Ontario, Manitoba and Saskatchewan in order to redeploy and refocus all efforts towards our James Bay area projects. We remind shareholders that, outside the successful Mirage Project, we have the Anatacau Project as well as 56 other untested grassroots properties in James Bay that all host pegmatites,” commented CEO Killian Charles.
In terms of recent exploration, Brunswick indicated that its five hole diamond drill property at its Hearst property in Ontario came up short, with the pegmatite having a strike length of just 65 metres. Just one hole within the five hole program successfully intersected the targeted Decoy pegmatite, with an intercept of 13.4 metres said to not result in significant lithium assays.
In Saskatchewan, Brunswick has terminated option agreements for the Hanson Lake area after its exploration teams were unable to locate historically mapped spodumene. Dykes in the region were said to have poor pXRF results with the dykes described as “unevolved.” Most of the historically mapped showings were found to be light granites or pegmatitic granites, save for two showings in the Reindeer Lake and La Ronge regions that were found to be lepidolite-bearing pegmatites. The future exploration prospects for the latter is said to be evaluated next year.
Finally, exploration in the Trans-Hudson and Lynn Lake regions of Manitoba was reported as fruitless. The company is rather blunt, saying “nothing of significance was discovered.” The commentary is significant, given that the company had previously pushed the fact that the Trans-Hudson claims covered 79,982 hectares with 124 mapped and interpreted pegmatites, which this morning were reported as being unevolved, granites, or pegmatitic granites. Lynn Lake meanwhile previously was reported as having 9 mapped pegmatites up to 8,500 metres in length, with the claims covering 27,163 metres.
Despite the lack of lithium discovered, Brunswick’s CEO commented that “all exploration programs were successful in rapidly testing multiple targets by prospecting, diamond drilling and stripping.”
Exploration of the Eeyou Istchee-James Bay region is slated to begin next month.
Brunswick Exploration last traded at $1.08 on the TSX Venture.
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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.