Brazil Lake Lithium Project | Lithium Springs Limited

The Brazil Lake Lithium Project is located in southern Nova Scotia, Canada approximately 25 km northeast of Yarmouth and approximately 300 km southwest of the City of Halifax (Figure 1). The region can be accessed via highways 101 and 103 and the project area is easily accessible via Route 340 (bitumen road) and then along secondary gravel roads.

Figure 1: Location of the Brazil Lake Lithium Project

Geology and Mineralisation

The highly evolved, spodumene-bearing pegmatites within the Brazil Lake Lithium Project that are the focus of Lithium Springs Limited's exploration are hosted by meta-sedimentary and meta-volcanic rocks of the White Rock Formation, which locally include quartzite, amphibolite, tuff, psammite and pelitic schist. The White Rock Formation sequence strikes northeast / southwest and locally dips steeply to both northwest and southeast. These rocks are part of the southwestern part of the Meguma terrane of the Canadian Appalachian Orogen.

Exploration and Drilling

The most recent exploration and drilling on the Brazil Lake Lithium Project was completed by Lithium Springs Limited, in conjunction with our project partners Champlain Mineral Ventures Ltd. Prior to LS1's involvement in the project, all previous exploration of the Brazil Lake Lithium Project and the surrounding areas was completed by Champlain Mineral Ventures Ltd; other than some early-stage exploration completed by the Nova Scotia Department of Natural Resources and Renewables (NSDNRR) in 1960-1993, which included 5 drill holes for a total of 577m. Champlain completed 16 diamond drill holes for a total of 1,325m in 2002; 16 diamond drill holes for a total of 801m in 2003; 28 drill holes for a total of 2,666m in 2010; and 5 drill holes for a total of 505m in 2019; as well as field mapping and sampling (including pits), soils surveys, trenching and geophysics.

Champlain also completed a bulk mineralogical investigation of the North Pegmatite (from drill hole BZ-02-13), which revealed that locally the pegmatite was made up of 16.3% spodumene, 11% microcline (potassium feldspar), 33% cleavelandite (sodium feldspar), 6% muscovite, and 34% quartz by weight. This sample was then subjected to metallurgical testwork, which produced a spodumene concentrate with highly encouraging Li₂O grade and recoveries utilising heavy liquid separation. Lithium Springs is currently in the process of verifying the historical metallurgical testwork through independently verified testwork being completed by SGS Lakefield, Canada.

Brazil Lake

Development potential

The Brazil Lake project has real mine development potential located in a tier 1 mining jurisdiction with potential Canadian federal and Nova Scotian provincial government incentives.

Additionally the US federal government's Inflation Reduction Act and development grants from the US departments of Defense and Energy present further funding opportunities for critical mineral development, especially given Canada's classification as a US domestic supply source.

The Brazil Lake Project benefits from world-class infrastructure, including access to sealed roads and nearby port infrastructure with immediate access to domestic and global markets. The presence of high-grade spodumene-rich pegmatite in close proximity to a seaport on the doorstep of the North American industrial base presents major advantages.

Intersections typically range from 10m to 20m in width and underscore the significant economic value of the deposit. Moreover, our location within a district-scale "LCT pegmatite field" opens the door to substantial resource growth possibilities.

With over 171 diamond core drill holes completed, along with extensive trenching and bulk sample testing, we have garnered invaluable insights into the deposit's potential. Our aggressive drilling program, coupled with rapid drill permit approvals, further cements our commitment to delivering remarkable results and strong returns for our shareholders.

The maiden JORC-compliant resource includes tonnage from all 3 pegmatite ore bodies.

Brazil Lake

Rapid exploration success

Independent JORC (2012) Exploration Target of 15.1Mt - 36.5Mt @ 1% - 2% Li₂O

70 historic drill holes over ~20 years for ~7,000m at the initial Brazil Lake discovery.
101 new diamond core holes by Lithium Springs for >36,000m (36km) discovering GRADE AND SCALE potential.
Game-changing discovery at Army Road validates theory for high-grade multi-dyke potential across the project.
Strategic acquisition of a further 31 exploration licences (13,583 Ha) in and around the core Brazil Lake licence area (1,459 Ha).
Yarmouth port just 25km from the deposit connecting to the Atlantic Ocean.
Ready access to domestic and global customers.

Tenure - 15,042 Ha

Favourable geological conditions for spodumene-rich pegmatite.
Five core licences covering the Brazil Lake lithium deposits (North & South Pegmatite and Army Road Pegmatite), with Lithium Springs having earned its joint venture interest.
31 exploration licences owned outright across a ~50km zone.

Exploration Strategy - District Scale Potential

Aggressive extension of strike and depth of spodumene-rich dykes.
Drill test 6km "HOT ZONE" between Army Road and Deerfield prospect i.e. "LCT pegmatite field" theory.
Regional prospect drilling completed at Deerfield and Church Rd, with North Holley Rd and Army Rd South planned next.

Real mine development potential

Army Road discovery 350m SE of the original deposit supports the theory that there is a significant LCT pegmatite field within the licences hidden under 5m - 10m of cover.
48 diamond core holes at Army Road with assays demonstrating high grades >1.3% Li₂O.

Brazil Lake drilling and pegmatite imagery — Click to enlarge

Resource

12.40Mt @ 1.17% Li₂O maiden JORC Resource

Explore the full Mineral Resource Estimate, including the breakdown by cut-off grade and category.

View the JORC Resource