Big Hill Project, Ontario

Overview

In March 2024 and following shareholder approval, Narryer acquired 70% interest in two projects located in Yellowknife Lithium Province in Northwest Territories, Canada.  The Big Hill and Fran Projects both contain mapped LCT pegmatites with potential to host significant lithium/tantalum mineralisation.

The Big Hill Project is in an area of active lithium exploration, with Li-FT Power’s (TSXV:LIFT, market capitalisation ~CAD$170m) BIG Lithium project sharing a claim boundary and mineralisation along strike. Lithium-caesium-tantalum (LCT) pegmatites have been identified on the Big Hill mineral claims, with spodumene-bearing pegmatites in channel and rock chips sampled, with assays up to 2.6 % Li₂O.

The Big Hill and Fran projects are serviced by well-established public infrastructure including:

1. a major highway running along the northern boundary of the Big Hill area and ~5km to south of the Fran Project area;
2. close to the well-serviced city of Yellowknife, with a population of circa 30,000;
3. near a major airport, which is ten minutes helicopter commute to the Project areas; and
4. good bulk haulage options out of Yellowknife, including truck-rail or barge-rail options via Hay Point, where connection exists to national rail network of North America.

The Big Hill Project mineral claim area is 62km² and contains identified spodumene-hosted pegmatites. The claims partially surround Li-FT Power’s 2.9 km² BIG lithium project area mineral leases.

A first pass exploration program was completed in June 2023. The works included:

1. ground truthing of satellite imagery targets and first pass mapping of structures;
2. handheld LIBS sampling to identify any presence of lithium;
3. preliminary channel sampling of key pegmatites; and
4. a LIDAR survey.

From this work, newly identified spodumene-bearing pegmatites were discovered just north of the Li-FT Power’s BIG mineral claim boundary. In one target area, the lithium mineralisation was traced over the eastern margin of the 70m long dyke exposure before entering vegetated cover, and was approximately 12m wide, striking in a NE direction – the same direction as Li-FT Power’s BIG Project mineralisation. Channel sample assays include grades up to 1.16% Li₂O over 5m, including 2.57% Li₂O over 1m at samples site BHDS-023 and grades up to 2.43% Li₂O over 1m at sample site BHRC-018. Additional spodumene-bearing dyke have been discovered in the same area, which will require channel sampling in 2024. The mineralisation observed in these pegmatites may be a continuation of the Li-FT Power’s BIG West pegmatite cluster.

The Lidar and orthophotography survey completed in 2023 has also provided further pegmatite targets to follow up in 2024. These appear to have the same structural trend to that seen at the BIG Lithium Project.

Narryer has also begun the application process for permitting at the Big Hill Project, with drilling planned for Q3 2024.The primary target area includes the strike extension to Li-FT Power’s (TSX-V: LIFT) BIG Lithium project where drilling has recently intercepted high-grade lithium mineralisation at the claim boundary to Narryer.

Exploration Program

• First pass exploration in June 2023, included:
  • Ground truthing of satellite imagery targets and first pass mapping of structures
  • Handheld LIBS sampling
  • Channel Sampling
• Newly identified spodumene-bearing pegmatite discovered near Li-FT’s BIG claim boundary
• Mineralisation was traced over the eastern margin of an exposed dyke for 70m, before entering cover
• Dyke was ~12m wide, striking NE (in same direction as BIG mineralisation)
• Initial channel sample assays, included grades of up to 1.16% Li2O over 5m; including 2.57% Li2O over 1m at sample site BHDS – 023, and grades up to 2.43% Li2O over 1 m at sample site BHRC-018. 
• Additional spodumene bearing dykes were discovered in the area and are yet to be sampled

Narryer has begun the application process for permitting at the Big Hill Project, with drilling planned for Q3 2024.

The primary target area includes the strike extension to Li-FT Power’s (TSX-V: LIFT) BIG Lithium project where drilling has recently intercepted high-grade lithium mineralisation2 at the claim boundary to Narryer.

The Company has also completed the reprocessing and interpretation of recently flown LIDAR and orthophotography at Big Hill, with several new potential pegmatite dykes identified. These new target areas, as well as the spodumene-hosted pegmatites identified in 2023, will be a priority for the 2024 field season.

Fieldwork at the Sapawe Project (NW Ontario) has now commenced, followed later in the month with reconnaissance work at the Zircon Lake Project.

Narryer has secured the services of experienced lithium geological consultants in both NW Ontario and Northwest Territories to help undertake exploration work in 2024.