Corvette North & Northwest Staked In James Bay Region, Quebec

Balkan Mining and Minerals Ltd(ASX: BMM; “Balkan Mining” or “the Company”) advises that it has directly staked two licenses, Corvette North and Corvette Northwest, in the emerging lithium district of James Bay in Quebec, Canada.

HIGHLIGHTS

• An additional 21km2 of land has been staked, increasing the Company’s exploration footprint.
• The projects are located in upper James Bay, a region prospective for lithium.
• Proximal to notable existing James Bay Lithium Deposits.

The two projects consist of 42 cells and cover approximately 21km2 (Refer to Figures 1 and 2).

Figure 1 – Projects Location Map

Figure 2 – Licence Location Map

Corvette North and Corvette Northwest are located in the upper James Bay area with all weather road access. The greenfield ground was staked for nominal application costs.

The projects are proximal to notable existing James Bay Lithium Deposits, namely:

• James Bay – Probable Reserves 37.2Mt at 1.3% Li2O ¹
• Whabouchi – Proven & Probable Reserves – 27.9Mt at 1.33% Li2O²
  
• Rose – Probable Reserve – 26.3 Mt at 0.92% Li2O & 138ppm Ta2O ³
  
• Moblan – Proven & Probable Reserves – 10.7Mt at 1.40% Li2O⁴
  
• Patriot Battery Metals Corvette Property (PMT.AX)

Managing Director, Ross Cotton, commented:

“We are pleased to add Corvette North and Corvette Northwest to our Canadian exploration portfolio, further demonstrating our commitment to the region.

These projects are in a highly prospective emerging lithium province. We aim to conduct an internal desktop study during the Winter, with the outcome of this work to guide our field programs in 2023.”

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