Hinterland Metals to add lithium to the Abitibi Greenstone Belt output
Hinterland Metals Inc. (TSXV: HMI) is a mineral exploration company focused on the Abitibi Greenstone Belt in Quebec. The Abitibi is Canada’s most prolific mining region both in terms of historic and current mineral production. Over one hundred mines have contributed to impressive historical production statistics that include:
– 18 billion pounds (8.2 million tonnes) of copper
– 35 billion pounds (15.9 million tonnes) of zinc
– 161 million ounces of gold
– 900 million ounces of silver
Hinterland Metals Inc. is looking to add lithium to the staggering output of Abitibi Greenstone Belt.
In June and July, Hinterland added lithium properties to its project roster.
On June 22 it announced that it has acquired 40 mineral claims (2,136 hectares) prospective for pegmatite-type lithium mineralization. The claims are located in the James Bay area of Quebec approximately 40 kilometers southeast of the village of Nemaska.
One June 23 it increased the size of its Brexit Lithium property to 111 claims (5,938 hectares) by staking an additional 71 mineral claims.
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On July 12 it announced the execution of a Letter of Intent (“LOI”) with Beaufield Resources Inc. (BFD: TSX:V) (“Beaufield”), whereby Hinterland may earn an interest in the “Lithium Rights”, defined as all elements, metals and minerals excluding precious metals (i.e., gold, silver, platinum and palladium), and base-metals (i.e., cobalt, copper, lead, nickel and zinc), attached to Beaufield’s 92-claim (4441-hectare) Troilus property.
Abitibi is Canada’s most productive mining region both in terms of historic and current mineral production. Over one hundred Abitibi mines have contributed 18 billion pounds (8.2 million tonnes) of copper, 35 billion pounds (15.9 million tonnes) of zinc, 161 million ounces of gold, 900 million ounces of silver, and 70 trillion black fly bites.
Perhaps Hinterland is a harbinger of good news for the Canadian mining sector. Its recent efforts in the Abitibi Greenstone Belt in Quebec are a sign that the mining sector is out of the doldrums and beginning to enjoy some tailwind. Or perhaps there is no need of tailwind as long as lithium ion batteries propel progress.
But most certainly Hinterland is capitalizing that the geological environment of the Abitibi Greenstone Belt continues to offer highly prospective, relatively low cost mineral exploration potential. Exploration and mining development investment exceeding $1 billion annually continues to discover new deposits, bring new mines into production and expand existing resources. In the past, the majority of mineral deposits in the region were found at or near surface. Today the exploration industry in the Abitibi is searching deeper with innovative exploration models, new technology and better equipment, and is also expanding its search to include new-age commodities such as rare earth elements (“REE”), lithium, niobium, tantalum and graphite. And recently large tonnage open pit deposits have been identified and put into production including Osisko’s Canadian Malartic and Detour Gold’s Detour Lake deposits.
Quebec is perhaps one of the most mining friendly jurisdictions in the world. Quebec is on the forefront of online digital data and claim acquisition, mine-site reclamation, aboriginal and other stakeholder consultation. Quebec’s benefits include a streamlined permitting process and mining incentives that provide up to 40% cash rebates on qualifying mineral exploration expenditures. These funds can be reinvested into exploration over a number of years resulting in less dilution to shareholders as shown in the charts below.
The Company explores for its own account. Hinterland also derives revenue and furthers exploration or development by farming out mineral property interests in whole or in part to other exploration companies for a mix of cash, shares and work expenditure commitments. All of Hinterland properties are available of option, sale or joint venture. Please contact the President directly about acquiring an interest in any of the Company’s projects.
Dr. Luc C. Duchesne is a Speaker and Author with a PhD in Biochemistry. With three decades of scientific and business experience, he has published ... <Read more about Dr. Luc Duchesne>