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Cross Lake

The Cross Lake Property comprises one Mineral Exploration Licence (MEL 1050A) encompassing 5,040 hectares and is located about 4 km southwest of the community of Cross Lake. The property covers the Cross Lake pegmatite field, including the Liz Lithium prospect, located on Spodumene and Metis Islands in the southwestern corner of Cross Lake. The granitic pegmatites form an 8 km-long, en echelon and lenticular swarm south of Cross Island dipping 45° north.

The Cross Lake Property was explored from the late 1970's to 1981 by the Tantalum Mining Corporation of Canada Limited ("TANCO"). The Company discovered tantalum (Ta) and niobium (Nb) oxide mineralization in granitic pegmatites. TANCO, was the operator of the Tanco mine, located at Bernic Lake, in southeastern Manitoba (now owned by Cabot Corporation), which was North America's largest producer of spodumene, tantalum and cesium.

In 1980-1981, TANCO drilled 23 diamond drill holes totaling 2,483 m. Several holes intersected zones of spodumene mineralization (e.g. up to 40 % spodumene in hole # 3 over a 1.3 m width). Moreover, 20 m-thick spodumene-rich intersections in individual and/or multiple intervals were encountered. The core was analyzed only for tantalum and tin. The documented occurrences of spodumene showings and the geological data base from TANCO's drilling campaign present a compelling target with a potential to discover and define new lithium resources.

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