Lac Simard South is close to several of Sayona Mining’s (ASX: SVA) lithium projects, which together have an indicated resource of 111 million tonnes grading 1.14% lithium, the province’s largest resource.
The Vancouver-based developer said it plans for a comprehensive work program to identify and test areas of immediate interest, though its primary focus is Argentina.
“This is the company’s first re-entry point into Quebec with the intention of building a strategic portfolio of hard rock lithium projects to compliment our lithium brine assets,” chief executive and director Nick Horsley said in the statement.
Prices for lithium, a crucial component of the batteries that power electric vehicles (EVs), have slumped over 80% since the start of last year on oversupply and weaker-than-expected EV demand.
Yet, analysts and…
