Lithium Projects

Two Highly Prospective Lithium Projects in Northern Quebec

Yorkton Ventures’ lithium initiative includes two superior projects. The Cyr-Kapiwak and the Sirmac East Project areas are considered to be highly prospective for lithium hosted in spodumene-bearing pegmatites.

The Cyr-Kapiwak Lithium Project

The Cyr-Kapiwak project includes several historic lithium occurrences mapped in the region and consists of 42 mineral claims with a total area of 2,220 hectares. The Key Property contains three unique locations along a structural geological trend where lithium has been recorded. The Cyr-Kapiwak Project includes a group of three non-contiguous lithium properties located in the James Bay area of Northern Quebec:

Key Lithium Property
Amisk West Lithium Property
Amisk East Lithium Property

The Sirmac East Lithium Project

Consisting of 12 mineral claims with a total area of 656 hectares, the Sirmac East Lithium Project is located on NTS map sheet 32J11. The Project is contiguous with Vision Lithium’s (V.VLI) Sirmac Property, Winsome Resources’ (ASX:WR1) Sirmac-Clapier Project and Troilus Gold’s (TLG.V) Troilus Gold Project. The Project is located roughly 170 km northwest of Chibougamau, Quebec and is accessible via a network of highways and forestry roads.

54 Lithium Mineral Claims in a Total Area of 2,876 Hectares – Located in the James Bay Area of Quebec

Cyr-Kapiwak Lithium Project

Key Lithium Property

The Key Property contains three unique locations with an east-west 1.5 km east-west geological trend where lithium-bearing boulders have been recorded. The Property is contiguous with Galaxy Lithium Inc.’s James Bay Lithium Mine Property and is located less than 3 km from the planned mine of James Bay Lithium Mine Project. Galaxy Lithium (Canada) Inc. is a wholly owned subsidiary of Australian-listed Galaxy Resources which recently changed its name to Allkem Ltd. (AKE:ASX).

Amisk West and Amisk East Lithium Properties

The Amisk West and Amisk East Lithium properties are located several kilometres south of the Key Lithium Property. Both properties are contiguous with Medaro Mining Corp’s (CSE: MEDA) Cyr South Lithium Property. The Amisk properties encompass large tracts of pegmatite-bearing granites that remain largely unexplored.

James Bay

Geographical Overview

Geologically, the Cyr-Kapiwak Lithium Project is situated at the northern boundary of the Nemiscau Subprovince, partially straddling the regional contact with the La Grande Subprovince and the Eastmain River Greenstone Belt.

The Nemiscau and La Grande subprovinces form part of the Superior Province of Quebec. The project area is underlain by paragneisses of the Auclair Formation. Granodioritic to granitic intrusions transect the Auclair Formation, are locally pegmatitic, and are associated with several lithium showings in the area.

Archean intrusives of the Kapiwak Pluton include tourmaline-muscovite pegmatites, granodiorites, monzonites, and lithium bearing spodumene pegmatites. The pegmatite dykes generally strike WSW-ENE with dips greater than 60 degrees.

Local area map of Yorkton Venture’s Cyr-Kapiwak Lithium Project.

Sirmac East Lithium Project

The Sirmac East Lithium Project located in the James Bay area of Quebec comprises of 12 mineral claims in 5 blocks having a total area of 656 hectares. Located roughly 170 km northwest of Chibougamau, Quebec the Sirmac East Project is accessible via a network of highways and forestry roads. The property has a 700kV power line that runs through the area.

Consists of 12 mineral claims the project is located on NTS map sheet 32J11. The Project is contiguous with Vision Lithium’s (V.VLI) Sirmac Property, Winsome Resources’ (ASX:WR1) Sirmac-Clapier Project and Troilus Gold’s (TLG.V) Troilus Gold Project.

The Project area is considered to be highly prospective for lithium hosted in spodumene-bearing pegmatites, with at least two historic lithium occurrences (Sirmac Lithium and Clapier Lithium) mapped in the western part of the region. In the northeast part of the region, at least one lithium-bearing boulder has been found on land with Provincial park status. The position of this boulder indicates that the area between the boulder location and the Sirmac lithium deposit (as well as the Clapier lithium showing) has strong potential for further discoveries.

Geologically, the Sirmac East Lithium Project is located in the northeast part of the Superior geological province, in the Frotet-Evans volcano-sedimentary belt. Four lithologies are present in the project area: quartz-biotite-hornblende schists, amphibolitized flows or mafic sills, spodumene-bearing pegmatites, and a syenite pluton measuring about 6 km in diameter. The structural trend is roughly east-west. Numerous granitic pegmatite dykes, with thickness ranging up to one hundred meters have been identified in the area. Lithium mineralization in the region is associated with granitic, rare element-spodumene-bearing pegmatites. Immediately west of the Sirmac East Project is the Sirmac Lithium deposit with an estimated 314,328 tonnes grading 2.04% Li2O (Wrightbar Mines Ltd., 1994).

Local area map of Yorkton Venture’s Sirmac East Lithium Project.

Cyr-Kapiwak Project Historical Information

The timeline of historic exploration activities around the area of the new Key Property, and the lack of bedrock exposures, are crucial to recognizing the discovery potential of Yorkton’s new Key Lithium Property. The boulders were discovered by Rock Teck Resources Inc. and described by Sylvain Desbiens (geologist) in a 2009 report (GM65863) titled “Property visit, Kapiwak property”.

The report describes the discovery and sampling of erratic blocks on the 3-claim area that now forms part of Yorkton Venture’s Cyr-Kapiwak Project. While the report was written in French, it was summarized by the MERN as follows: “Significant pegmatite spodumene dykes (Cyr-Lithium prospect) related to the Kapiwak pluton are found just north of the property.

The aim of this project is to check for possible other spodumene-rare metals deposits associated to that pluton. Spodumene pegmatite boulders found in the northern part of the Kapiwak property incite to detail prospecting. Rare metal lithium-bearing pegmatites, including the Cyr-Lithium prospects, are associated with the Kapiwak pluton.

The Kapiwak property covers a large area of the northern part of the Kapiwak Pluton, south of the Cyr-Lithium prospects. Spodumene pegmatite boulders grading up to 2.9% Li2O are found in the northern parts of the Kapiwak property. Potential sources for the above-mentioned spodumene pegmatite boulders could be from a non-outcropping land area southern-fringing the Cyr-Lithium deposits, and/or from the Cyr-Lithium pegmatite dyke swarm.”

The Rock Teck claims subsequently expired, with no further work (such as trenching) having been reported by the corporation. Many of the expired claims were then map-staked in 2016 by Glenn Griesbach who vended them to an Australian-listed corporation, Metalstech Limited (MTC:ASX), in May 2016 as part of a 40-claim lithium property.

The claims were transferred to a wholly owned subsidiary of Metalstech, Lithium MetalsTech Kapiwak Inc. They expired in April 2021 with no field work having been carried out. Metalstech did, however, engage Dahrouge Geological Consulting Ltd. of Edmonton, Alberta, to write a desktop report (GM70741) titled “2016 Exploration of the Kapiwak Property, Quebec”. The property was not visited by representatives of Metalstech or Dahrouge Consulting, nor was any other fieldwork carried out at any time.

The objective of Dahrouge Consulting’s 2016 desktop review was to make an assessment of the discovery potential of the property based on historic work of the area, with particular reference to the 2009 report, and concluded the property to be highly prospective. Although being located relatively close to a large and well-mineralized spodumene pegmatite deposit, only a modest amount of work was described to have been completed on the property historically.

The 2009 report’s recommendations, some of which are paraphrased in the 2016 report, are to carry out further fieldwork focussing on the presence of the multiple east-west trending boulder locations and on the [Key Lithium] property’s contiguous location with respect to the James Bay (Cyr) Deposit (now James Bay Lithium Mine), and the geological similarities that could be inferred.

The 2009 report also recommended that trenching be carried out on the property, with diamond drilling contingent on the success of the trenching. There are no reported lithium-rich boulders both to the north and the south of the ones historically identified on the Key Lithium Property. This supports the likelihood that the source of the boulders is the bedrock in the immediate vicinity of their known locations. Also, note that the Key Lithium Property measures almost 1,000 meters from north to south.

Cyr-Kapiwak Ease of Accessibility

The Project is located roughly 100 km east of the town of Eastmain and 170 km south of the town of Radisson. The site is easily accessible via the James Bay Road that connects the towns of Matagami and Radisson, and by Highway 109 that links to Val d’Or to the south. The James Bay Road passes through the Key Lithium Property, 4 km west of the Amisk East Property, and 500 meters south of the Amisk West Property.

Cyr-Kapiwak Project Terms of the Acquisition

The Acquisition Agreement, which is subject o regulatory approval, provides for consideration of $25,000 cash and 250,000 Company Units upon acceptance of the Agreement by the TSX Venture Exchange. The Units are comprised of 250,000 common shares and 250,000 warrants exercisable at $0.60 for 18 months from the date of acceptance of the Agreement. A 2% NSR is retained by the Vendor. The Company may purchase one-half the NSR (1%NSR) for the cash sum of $1,000,000 at any time.