The Case Lake Property is located in Steele and Case townships, 80 kilometers east of Cochrane, Ontario near the Quebec border.
MGX currently holds a 20% working interest in Case Lake and four other lithium hard rock properties in Ontario controlled by Power Metals Corp (TSX.V: PWM) as well as any additional properties acquired prior to August 2020.
MGX has the right to acquire an additional 15% working interest by making a one-time payment of $10 million prior to August 2020.
Power Metals completed a 50-hole, 5,400 metre diamond drill program at Case Lake in 2017, successfully extending the North and Main dykes along strike and down dip. The Main dyke spodumene pegmatite zone was extended 250 metres to the west. Additionally, prospecting in 2017 discovered two new spodumene pegmatite dykes that will be targeted in future drilling.
Drill assay highlights included (see press release dated November 2, 2017):
PWM-17-08: 1.94 % Li2O over 26.0 m
PWM-17-09: 1.23 % Li2O over 16.0 m
PWM-17-10: 1.74 % Li2O over 15.06 m
Case pegmatite swarm consists of five dykes exposed on surface (Breaks et al., 2006, OFR6195; MNDM assessment reports: 32E04SW2002, 2000; 32E04SW2003, 2001; 32E04SW2004, 2001; 2.47355, 2011):
- North Dyke – 12 m thick and > 100 m strike length
- Main Dyke (also known as Central Dyke) – 35 m thick and > 350 m strike length
- South Dyke – 10 m thick and > 250 m strike length
- East Dyke – 19 m wide and > 1200 m strike length
- Northeast Dyke – 10 m wide and > 75 m length
All of the known Case pegmatite dykes are open along strike, as the current strike length only represents surface exposure and doesn’t represent the total length of the pegmatite dykes. Thus there is potential to increase the strike length of each mineralized dyke.
The North, Main and South dykes are hosted by the Case granodiorite batholith and they strike at 60 to 70° and dip 40 to 60°. The East and Northeast Dykes are hosted by fine-grained biotite-garnet metasedimentary rocks. The East Dyke is steeply dipping and has a E-W strike. The Northeast Dyke has a shallow dip and trend in a northeast-southwest direction. The Northeast Dyke consists of northern and southern exposures and numerous dykelets.
Case Lake Property N.I. 43-101 Technical Report
Effective Date: July 14, 2017