Business
K9 Gold Signs Share Purchase Agreement to Acquire the James Bay Lithium Project, N. Quebec
Vancouver, British Columbia--(Newsfile Corp. - November 15, 2022) - K9 Gold Corp. (TSXV: KNC)...
About this update from Americore Resources Corp
[{"type":"text","content":"K9 Gold Signs Share Purchase Agreement to Acquire the James Bay Lithium Project, N. QuebecVancouver, British Columbia--(Newsfile Corp. - November 15, 2022) - K9 Gold Corp. (TSXV: KNC) (FSE: 5GP) (OTC: WDFCF) (\"K9\" or the \"Company\") is pleased to announce that it has entered into an agreement whereby it has an option to acquire up to a 100% interest in the James Bay Lithium project, located in the James Bay region of northern Quebec.The property comprises 41 mining claims, totaling 2114 hectares. The property is located approximately 350 km south-southeast of Radisson, Quebec. Other projects in the area include Patriot Battery Metals Corvette project located 50 km to the west and Winsome Resources Lithium Adina project located approximately 5 km to the east. The James Bay property is underlain by a package of Archaean rocks that is similar to the geological setting of the corvette and Adina projects.About James Bay Lithium ProjectThe James Bay Lithium Project is located in the La Grande sub-province of the Archaean Superior Province in Quebec. The Trieste Formation, which hosts lithium mineralization on the adjacent Adina property, transects the James Bay project area. Within the property boundaries, this Meso-Archaean age formation is mainly an ensemble of mylonites and banded amphibolites derived from basalt, which have been intruded by various intermediate rocks. A significant band of tonalite, part of the Meso-Archaean age Kamusaawach Intrusion, cuts through the centre of the property. Also cutting through the claims is a band of the Neo-Archaean Richardie Suite, an intrusive biotite-magnetite-hornblende granodiorite. The northern portion of the property is underlain by the Neo-Archaean Sauvolles Pluton, which is mainly of granitic composition. There is also a prominent Paleoproterozoic-age mafic dyke (Senneterre dyke system) cutting through the north of the property with a NE-SW orientation. No systematic exploration work has been performed on the property to date. During a regional mapping program in 2013 by Government geologists, one outcrop was collected sample from the property, reported in the Quebec Government's online geological database, SIGÉOM, an returned a value of 65 ppm Li. Field work is set to begin on the property, with a program of outcrop sampling.Option AgreementThe claims are currently held in the...