With 2024 now fully underway, markets like the lithium sector are poised to boom this year and companies like Consolidated Lithium Metals (TSXV:CLM) are one of Canada’s most exciting lithium plays.
Formerly known as Jourdan Resources, Consolidated Lithium is primarily focused on the acquisition, exploration, production and development of mining properties geared towards lithium.
As the company gears up for another busy year, let’s take a look at what some of Consolidated Lithium’s highlights were in 2023 in anticipation of what’s to come for 2024.
2023 highlights for Consolidated Lithium
In September of last year, the company kickstarted drilling at its Vallée joint venture lithium project which sits roughly 30 kilometres north of Val-d’Or, Quebec within the Vallée Lithium Corridor.
The company said in a statement that the objective of the program was to expand upon the lithium pegmatites Consolidated Lithium discovered during its drilling programs in 2021, 2022 and 2023. The program included 14,500 metres of drilling in 45 drill holes that were spaced on lines 150 metres apart with closer spaced infill holes to be drilled where results warrant.
Consolidated Lithium then announced in October that it had completed the drilling program, which was made up of three key components, including:
- a 29 hole, 4,747 metre diamond drilling program;
- an outcrop stripping and sampling program; and
- a soil sampling program covering the area between the Baillargé Est Showing and the Chubb showing is located 1.2 kilometres southeast and along strike of the area covered by the summer drilling program.
Image credit: Consolidated Lithium
Notably, the company used a handheld LIBS Analyzer to develop a soil algorithm for use in lithium exploration using state-of-the-art technology.
“CLM was one of the first to deploy the groundbreaking LIBS technology to our lithium assets in Quebec. This technology will allow us to locate much faster, buried lithium-bearing pegmatite dykes and define better drilling targets. We look forward to receiving the results in a timely manner,” Rene Bharti, CEO of Consolidated Lithium, said in a statement.
Consolidated Lithium closed out the year by completing a private placement valued at just over C$1.68 million.
Summer 2023 drilling results revealed
The company kickstarted 2024 by announcing that its joint venture partner North American Lithium reported the first set of assay results from the summer drilling program at the Vallée joint venture lithium project.
Results included those from the first hole of the summer program (hole VAL23-01) intersected two separate high-grade pegmatite dykes. The first returned a composite assay grade of 1.04 per cent Li2O over 6.46 metres from 55.12 metres to 61.58 metres, and the second returned 1.35 per cent Li2O over 3.39 metres from 129.14 metres to 132.53 metres.
The property is located next to and along strike of North American Lithium’s operations, which is the largest lithium operation in North America.
About Consolidated Lithium
Consolidated Lithium has an impressive portfolio under its belt with six exploration projects to its name spanning over 22,600 hectares, located in a world-class mining district within the Abitibi Greenstone Belt region.
With a new year now in full swing, the company’s objectives include developing a high-quality lithium resource base close to existing and operating mine infrastructure as well as pursuing and extending existing joint venture agreements with operating lithium producers. Consolidated Lithium will also look to acquire and consolidate strategic adjacent mining claims around an existing lithium mine to develop a lithium mine within first quartile operating costs.
The investment opportunity
The year is still young, but the future is promising for Consolidated Lithium and the lithium sector overall.
With the continued rising demand for lithium in its use in electric vehicle batteries, companies such as Consolidated Lithium will be rising to the challenge, making it one company to watch for in 2024 and beyond.
Because the company’s summer drilling program wrapped up some months ago now, the focus will now shift to what’s coming next for Consolidated Lithium, and investors won’t want to miss out.
For more information on Consolidated Lithium visit consolidatedlithium.com.
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