See our exclusive index of companies on the move:
Explore Stocks- Top Stocks
- Top Australian Gold Stocks
- Top ASX Copper Stocks
- Top ASX Nickel Stocks
- Top ASX Rare Earth Stocks
- Top Battery Metals Stocks on the ASX
- Top Australian Lithium Stocks
- Top Graphite Miners on the ASX
- 10 ASX Cannabis Stocks
- Top ASX Tech Stocks
- Top AI Stocks on the ASX
- On Site
- About Australian Cannabis Investing
- About Australian Resource Investing
- About Australian Tech Investing
- About Australia Investing
- Of Interest
- ASEAN-Australia-New Zealand Trade Agreement
- Association of Southeast Asian Nations (ASEAN)
- Australian FAQ on ASEAN
- Australia Government on Foreign Investments
Winsome Resources CEO Chris Evans: Sustainable Hard-rock Lithium Opportunities in Quebec

Winsome Resources CEO Chris Evans said, “Canada and the US are working feverishly to develop an internal battery materials supply chain and we think we're going to play a critical role in that.”
Winsome Resources CEO Chris Evans: Sustainable Hardrock Lithium Opportunities in Quebecyoutu.be
Winsome Resources (ASX:WR1) CEO Chris Evans joined the Investing News Network to discuss the company and its Cancet lithium project in Quebec, Canada.
"We listed on the ASX on November 30, 2021," he explained. "We're lithium focused but based in Canada, and we've been pretty successful in the last six months — our share price has done well. I think I've been putting this down to the success factors which we possess as a company, including the fact that we're into lithium at a moment with high demand. Any mining company that's associated with lithium has tended to do well.
“Our assets are in Quebec, a fantastic mining jurisdiction for all sorts of reasons. Also, being listed on the ASX — Australian investors tend to like early stage plays a bit better. They've certainly woken up to the electric vehicle and lithium revolution that's occurring in the world. And it's a pleasure having the assets in Canada.”
Next, Evans got into specifics about the company's flagship project. “The Cancet project is our flagship, in the James Bay region of Quebec. All our projects are hard-rock lithium; that's digging the rocks out of the ground and concentrating the lithium in them. Then it gets converted into the final product, which is lithium carbonate or hydroxide, that then goes into electric vehicle batteries,” he explained.
“Cancet’s had about 5,500 metres of drilling done on it historically, so we know that there's a great deposit of lithium at fantastic grades. It outcrops on the surface, the lithium-containing spodumene from the pegmatite rock, where we have 3.7 percent lithium oxide over a 17 metre interval from the surface at our most successful drill hole. We just completed 2,000 metres of drilling ourselves, increasing our knowledge of the orebody that's there, and also looking for extensions to the orebody. We've got 395 claims, and our drilling and exploration is only over about 15 of the claims. So we've got a lot further to look here and a lot more to develop.”
As for supply location, and the company's relationship with the international market, Evans said, “We think it's fantastic for us, and our shareholders, that we have assets in Quebec. Roughly 50 percent of the world's hard-rock lithium comes from Australia, where it’s mined and concentrated. The problem is that final conversion into lithium carbonate or hydroxide all occurs at the moment in China ... lithium is on the critical minerals list in Canada, the US and Australia, and Canada and the US are working feverishly to develop an internal battery materials supply chain. We think we're going to play a critical role in that.”
Elaborating on the sustainability industry that drives the battery revolution, he said, “(Nearly) all power in Quebec is generated by hydroelectricity and renewable forms of electricity. That’s very important, because the mining and concentration process for lithium products traditionally produces a large carbon footprint, because it's energy intensive. The EU, from 2024, has mandated that all batteries are labeled with the carbon footprint of all the materials that are contained within them. Then, by about 2026, there's specific targets that batteries have to meet in order to be sold in the EU. If you don't have a renewable source of energy to produce your lithium products that go into those batteries, it's going to severely restrict your markets — and that's another bonus for us being in Quebec.”
Evans said that Winsome Resources’ approach is to develop a mine itself, rather than selling or partnering. “We will approach this as if we are going to be developing the Cancet project, and producing lithium ourselves, in four or so years. And I think that'll best serve our shareholders.” With regards to other ways the company could benefit investors, Evans said, “Being listed on the ASX, and having access to a lot of capital, I think there's a great opportunity for us to acquire other projects in Canada. We're about to start our summer exploration. And we're on the lookout for a new project. So I think the good news is really to come.”
Watch the full interview of Winsome Resources CEO Chris Evans above.
Disclaimer: This interview is sponsored by Winsome Resources (ASX:WR1). This interview provides information that was sourced by the Investing News Network (INN) and approved by Winsome Resourcesin order to help investors learn more about the company. Winsome Resources is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Winsome Resources and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
Developing Hard Rock Lithium Deposits in Northern Quebec
Overview
Lithium continues to be an essential resource in the manufacturing of batteries required to power modern technologies, such as laptops. smartphones, and other devices. Add to that the surging demand for electric vehicles (EVs) and other clean energy technologies, and it’s clear why the need for lithium continues to grow. The US Department of Energy expects the global lithium battery market to increase by five to ten times within the next decade. Additionally, research shows that demand for lithium will exceed two million metric tons by 2030.
North American governments have set ambitious goals to transition to green technologies, with both the United States and Canada adding lithium to their critical minerals lists. Both countries are focused on developing internal supply chains, including promoting further development of domestic lithium deposits and expanding downstream processing capabilities.
Nevada, Arizona, Saskatchewan and Quebec all rank within the top ten most attractive jurisdictions for mining in the world, but one notable source of hard rock lithium assets is found in Northern Quebec.
Winsome Resources (ASX:WR1) is an exploration and development mining company focused on cultivating four lithium assets in Quebec. The province has a highly-developed mining industry, strong support from the local government that includes tax incentives and significant offtake opportunities throughout North America. The company is fully-funded for exploration due to completing an AUD$18 million IPO that was heavily oversubscribed. Additionally, the Cancet, Adina, and Sirmac-Clappier projects are 100 percent owned by the company, with exclusive rights to purchase its fourth project, Decelles.
The company’s flagship Cancet Project is an advanced exploration project, with extensive diamond drilling and metallurgical test work already completed. The results reveal high-grade deposits of both lithium and tantalum, boasting a JORC exploration target of 15-25 Mt at 1-2 percent lithium Oxide (Li2O), alongside 100-250 ppm tantalum oxide (Ta2O5)
The company embodies a proactive approach to maintaining an excellent Environmental, Social and Governance (ESG) rating. Winsome Resources’ commitment to its ESG rating has a tangible impact on reduced emissions during exploration and future production. It has direct access to hydropower to power its operation with renewable energy. Additionally, the coarse grained nature of its hard-rock lithium deposits allow for using Dense Media Separation, a pre-concentration process that maximizes energy conservation.
Winsome Resources Managing Director Chris Evans provided context into why its hard-rock assets give the company a distinct advantage. “The fact that we're hard rock lithium is very important. And the fact we've got very coarse-grained spodumene, which makes it amenable to DMS, dense media separation, which is, like the old town of mine in Western Australia, which makes it relatively quick to market and lower capex.”
Winsome Resources is guided by a strong management team with direct experience that builds confidence in the company. Chris Evans, Managing Director, has a background in lithium exploration and development, previously leading the Pilgangoora lithium mine to full production. Dr. Qingtao Zeng holds a doctorate in geology and has been extensively involved in the lithium sector. Carl Caumartin, general manager in Canada, holds an MBA alongside a bachelor’s degree in geological engineering, making him a perfect addition to the team. Chairman Justin Boylson has over 25 years’ experience in commodity trading and resource project management, involved in the start-up of several mining and recovery projects worldwide. The team is rounded out by Peter Youd, CFO, who has 30 years of financial executive experience primarily in the mining, oil, and gas sectors.
Company Highlights
- Winsome Resources is a lithium-focused exploration and development mining company with four hard-rock lithium assets in Quebec, three of which are 100 percent owned by the company with exclusive rights to purchase its fourth asset
- Quebec is known as an extremely mining-friendly province, with its government providing tax incentives to attract mining companies alongside a strong mining infrastructure
- The company is fully-funded due to its oversubscribed IPO that raised AUD$18 million
- Winsome Resources’ flagship project, Cancet, is in advanced exploration stages and previous exploration data revealed a JORC exploration target of 15-25 mt at 1-2 percent Li2O, and 100-250 ppm Ta2O5
- Core to Winsome Resources' vision is its commitment to maintaining an excellent ESG rating by utilizing hydropower and Dense Media Separation, which is known for its energy efficiency
- A management team with direct experience in the lithium sector, in addition to management and financial experience, builds confidence in the company’s ability to fully develop its assets
Key Projects
The Cancet Project
Cancet is the company’s most advanced lithium asset and is the flagship project. It contains 395 claims and covers 20,000 hectares. The project’s primary targets are close to major roads and power lines, along with containing multiple access trails. Exploration has revealed a shallow high-grade ore body, allowing the company to use low-cost and low-impact concentrate production.
Project Highlights:
- Ideal Geology: The project is within a favorable geological setting that contains a mineralized spodumene-bearing pegmatite.
- Additional Targets May Expand Tonnage: New targets have been identified by remote sensing and magnetic surveys for further exploration that may significantly increase the lithium tonnage of the project
- Completed Exploration Had Promising Results: Assay highlights from previous drilling include
- 18m at 3.15% Li2O from 8 meters;
- 21.45m at 2.24% from 5 meters;
- 17m at 2.06% from 6 meters; and
- 11m at 2.93 percent lithium from 41 meters.
- Exceptional tantalum grades were also discovered.
The Adina Project
Adina has completed maiden drilling of 10 holes covering 1,726m in 2018. This exploration revealed a 2-kilometer strike due to the presence of a pegmatite ridge. The drilling results showcased well-mineralized deposits that warrant additional exploration.
Project Highlights:
- Additional Exploration Necessary: Before additional drilling commences, additional field prospecting and mapping will be completed to isolate drill targets
- Encouraging Previous Results: A 2018 drill program revealed lithium deposits with grades ranging from 1.24 % to 1.85% Li2O at depths between 43.69 meters to 99.09 meters
The Sirmac-Clapier Project
The project contains 67 claims covering 3,400 hectares. It hosts a favorable geological setting to host pegmatites and is situated immediately adjacent to an existing Lithium Resource.
Project Highlights:
- Nearby High-Grade Deposit: The project is less than 3 kilometers away from a known high-grade lithium deposit that contains 2.04% Li2O
- Helpful Historical Exploration: Extensive reports and historical exploration data available for the region.
- Ideal Location and Infrastructure: Sirmac-Clapier is close to a major mining town and airport, and already has roads and power infrastructure throughout the property
The Decelles Project
The project has 669 claims that cover 385 square kilometers of promising land. Winsome Resources recently signed an exclusive option agreement to explore and potentially acquire located in Decelles over 24 months.
Project Highlights:
- Nearby High-Grade Deposit: The adjacent Cadillac property operated by Vision Lithium (TSX.V: VLI) recently discovered a high-grade spodumene, creating more confidence in Decelles
- Thorough Exploration Planned: Winsome Resources aims to begin exploration immediately, beginning with desktop mapping of granitic outcrops revealed by historical data
Management Team
Chris Evans - Managing Director
Chris Evans has a strong lithium and project development background with close to 20 years of demonstrated success in managing large-scale construction and mining development projects and operations across various commodities. As Chief Operating Officer, Evans was responsible for building and bringing into operation the Pilgangoora lithium mine and processing facility which was recently acquired by Pilbara Minerals (ASX: PLS) in a deal valued at more than $200 million. In this role and also in his subsequent role as Managing Director of an ASX-listed lithium development Company, Evans was involved in establishing and maintaining key relationships with project finance and off-take partners. Evans holds a Master of Engineering Science, Construction Management, (University of New South Wales), a Bachelor of Engineering (Hons), Civil (University of New South Wales), and is a graduate of the Australian Institute of Company Directors.
Dr. Qingtao Zeng - Director (Non-Executive)
Qingtao Zeng has been extensively involved in the lithium exploration and development sector and has helped clients complete a range of contracts relating to the supply or purchase of lithium. He has been engaged as a consulting geologist, principally working with Eldorado Gold Limited CSA Global China and Australia, and has a range of geological and commercial specialties. Dr. Zeng completed a Ph.D. in geology at the Centre of Exploration Targeting (CET) of the University of Western Australia in 2013. Dr. Zeng has published several academic papers on orogenic gold or structure control gold geological studies and is a member of AUSIMM and the Society of Economic Geologist (SEG). He is currently a Director of Kodal Minerals Plc, MetalsTech Ltd & Australasian Gold Ltd.
Justin Boylson - Chairman (Non-Executive)
Justin Boylson is an experienced commodity trader and resource project manager with over 25 years of experience. Boylson has been responsible for several high-profile off-take transactions and has been involved in the start-up of several mining and recovery projects in Australia, the United States and Asia. Recent ASX directorships include Manuka Resources Ltd and Riversgold Ltd. Boylson is currently the Non-Executive Chairman of Mamba Exploration Ltd.
Carl Caumartin - General Manager (Canada)
Carl Caumartin holds a Bachelor of Science in Geological Engineering, as well as an MBA and is a Quebec native with more than 30 years of international experience as a mining executive and consultant. He has worked across projects focused on lithium, gold and numerous other commodities in Canada, Africa, Asia, and South America. Caumartin is a key part of the Company’s plans to develop the assets to become a significant player in the Canadian lithium market.
Peter Youd - CFO & Company Secretary
Peter Youd is a senior finance executive with more than 30 years of experience predominantly across the mining, oil and gas sectors in Australia and overseas. During his career, Youd has held Director/Chief Financial Officer/General Manager/Company Secretary roles with First Graphene Limited, Ausdrill Limited (now Perenti Global Limited) and Weatherford Compression Services.
Top News
FEATURED STOCKS
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.