QUEBEC – Saint Jean Carbon of Oakville, ON, is acquiring what it calls the “Whabouchi lithium project” 300 km north of Chibougamau.
Despite the name, the Saint Jean Carbon property is NOT to be confused with the Whabouchi hard rock spodumene project belonging to Nemaska Lithium of Quebec City. The feasibility study was completed in 2014 for both open pit and underground mines based on proven and probable reserves of 7.3 million tonnes grading 1.28% Li2O. Environmental approval has also been received. Nemaska has already bought a modular mill to treat a bulk sample and signed the first commercial offtake agreement for its project. (See www.NemaskaLithium.com).
Saint Jean Carbon bought 4,300 ha on the northern margin of the Mountain Lake belt for $5 million and 2 million shares. The company is planning an examination of the historic geological data followed by prospecting and detailed mapping. (See www.SaintJeanCarbon.com).