Stockhouse.com uses cookies on this site. By continuing to use our service, you agree to our use of cookies. Cookies are used to offer you a better browsing experience and to analyze our traffic. We also use them to share usage information with our partners. See full details.
I Agree
×
Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Privacy Policy | Disclaimer

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Privacy Policy | Disclaimer
Please Try Again {{ error }}

Send my password

Return to Login
SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
News   Press Releases

Lions Bay Capital Inc. Provides an Update on Savic Exploration

V.LBI | January 20, 2022

Vancouver, British Columbia--(Newsfile Corp. - January 20, 2022) - Lions Bay Capital Inc. (TSXV: LBI) ("Lions Bay" or the "Company"), a Toronto Stock Exchange (TSX) listed company, announces they have received the accompanying technical report from SRK Consulting (Australasia) Pty Ltd. ("SRK") on the results from the recent drilling program on the exploration licences (ELs) held by Savic Minerals Pty Ltd (Savic) within western Victoria, Australia. The Savic EL lies immediately adjacent to the recently announced Yellow Tail and Red Tail ionic rare earth elements (REE) discoveries of by Australian Rare Earths.

Lions Bay holds an option to enter into a joint venture agreement under which it can earn a 50 per cent interest in the Savic ELs by spending AUD $5 million (CAD $4.50 million) over 3 years. As part of the Company's due diligence, Lions Bay undertook a widely spaced aircore drilling program targeting extensions to AR3's Yellow Tail and Red Tail prospects within the Savic EL. The results of the drilling campaign confirm the REE mineralisation within the AR3 tenure extends into the Savic ELs. While full results are presented below, a highlight was a 1 metre intercept from 1 metre downhole depth in hole PD 11, which returned a grade of 2140 ppm Total Rare Earth Oxide directly on strike from AR3's Red Tail deposit.

The Executive Chairman of LBI, Mr. John Byrne commented: "These latest results are very encouraging for both ourselves and our partners, Savic Pty Ltd. which is a private Australian company."

LBI is an investment company and while the board remains open to changing the company status from an investment company to a mining company, it remains focused on delivering on its original plan of creating shareholder value through strategic investments in the mineral resource arena. A part of our business is to seed investments in companies that wish to go public and hopefully realise on profits enjoyed by founders of such enterprises.

The following is the full report received from SRK.

Introduction

In October 2021, SRK undertook an initial, scout phase of aircore exploration drilling in Savic'sEL6968 within western Victoria, Australia. This work was conducted on behalf of Savic's joint venture partner, Pan Andean Capital Pty Ltd, an Australian subsidiary of Lion's Bay. The focus of this exploration work was targeting ion absorption clay hosted (REE mineralisation interpreted to be continuous eastward from AR3's immediately adjacent Koppamurra Project prospects (Yellow Tail and Red Tail) (Morgan, 2021) (Figure 1).

Aircore drilling was conducted by Indicator Drilling (Indicator) with a total of 18 holes completed on a spacing of approximately 1km. A total of 130 samples were submitted to assay to the Bureau Veritas Laboratory (Bureau Veritas) in Perth, Western Australia in November 2021.

Assay results from this drilling program were received on the 18th of January 2022 from Bureau Veritas. These results successfully confirmed the continuity of REE mineralisation within the Savic EL.

Summary of Results

The EL6968 drill program was designed to investigate the continuity of REE mineralisation hosted within clays of the Bookpurnong Formation immediately above the Gambier Limestone within the Murray Basin. Mineralisation was interpreted by Savic to be continuous along a southeastwardly trend from the AR3's Koppamurra Project, parallel to the trend of the Kanowinka Fault (Figure 1).

A preliminary, wide spaced (approximately 1km) scout program of 18 holes carried out along the western margin of EL6968 to test this potential extension of REE mineralisation from the adjacent Koppamurra Project (Figure 1). A total of 342m were drilled during this program with drilling terminating at or within the Gambier Limestone, which is interpreted as the geological sequence onto which the clay hosted REE mineralisation has deposited. All holes were sampled on 1m intervals and analysed using an Olympus Vanta portable x-ray fluorescence device (pXRF). Based on pXRF results a total of 130 samples were selected for assay at Bureau Veritas laboratory in Perth.

Assay results from the program have confirmed the presence of REE mineralisation hosted within clays immediately above the Gambier Limestone, interpreted to correlate with the mineralised clays observed within ARE's Koppamurra Project. Preliminary interpretations correlate these clays as equivalents of the Bookpurnong Formation. A summary of the REE assay results converted to oxide values are presented in Table 1 below. Results show elevated Total Rare Earth Oxide (TREO) contents above 700ppm from seven holes and TREO values above 1,000ppm within four holes (holes PD003, PD004, PD007 and PD011). The highest results recorded were within hole PD011 which returned 2,140ppm from 1 to 2m depth and 1,021ppm from 2 to 3m depth highlighting shallow levels of this mineralisation and a thickness of 2m greater than 1000ppm TREO with an average of 1,580ppm across this interval.

Best results were found directly along strike of AR3's Yellow Tail and Red Tail prospect areas, particularly west of Yellow Tail (Figure 1). These results are encouraging especially given the wide spaced nature of the drilling completed to date. SRK recommends further drilling to delineate the extents of the mineralisation within EL6968, as well as infilling the known mineralised areas to fully understand the continuity and thickness of this mineralisation.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/1691/110977_bcb5c378c472da22_002.jpg

Figure 1:Drill hole locations with best TREO assay results from the preliminary scout drill program within EL6968

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/1691/110977_bcb5c378c472da22_002full.jpg

Table 1: Results from assayed samples within EL6968

Hole ID Sample ID From To Lithology CeO2 ppm Dy2O3 ppm Er2O3 ppm Eu2O3 ppm Gd2O3 ppm HO2O3 ppm La2O3 ppm Lu2O3 ppm Nd2O3 ppm Pr2O3 ppm Sc2O3 ppm Sm2O3 ppm Tb2O3 ppm Tm2O3 ppm Y2O3 ppm Yb2O3 ppm TREO ppm
PD001 PD111 10 11 Clay 299.73 20.66 11.24 6.09 24.67 4.01 105.43 1.25 120.14 28.79 11.04 25.28 3.66 1.54 120.51 8.81 792.86
PD001 PD112 11 12 Clay 103.68 7.87 4.43 2.33 10.00 1.68 41.75 0.48 46.19 10.80 7.21 9.66 1.47 0.61 52.57 3.45 304.18
PD001 PD113 12 13 Limestone 45.21 4.41 2.50 1.12 4.97 0.93 20.29 0.30 22.16 5.24 5.06 4.71 0.74 0.35 30.35 2.08 150.42
PD001 PD114 13 14 Limestone 25.18 2.27 1.23 0.53 2.60 0.46 12.20 0.16 12.60 3.02 4.14 2.64 0.41 0.18 16.38 1.06 85.08
PD002 PD216 15 16 Clay 286.22 29.50 16.01 7.16 34.81 6.06 145.43 1.60 144.63 35.69 10.89 28.76 5.12 2.06 217.15 11.50 982.58
PD002 PD217 16 17 Limestone 22.85 2.36 1.35 0.60 2.62 0.49 12.43 0.16 11.90 2.77 3.07 2.42 0.40 0.18 19.94 1.01 84.56
PD002 PD218 17 18 Limestone 49.26 4.38 2.49 1.22 4.58 0.96 22.99 0.32 24.03 6.07 7.21 4.39 0.84 0.34 31.62 1.92 162.63
PD003 PD314 13 14 Clay 297.27 31.10 17.04 8.83 37.69 6.29 216.97 1.89 201.79 49.97 15.95 38.27 5.42 2.36 203.18 13.66 1,147.69
PD003 PD316 15 16 Clay 283.76 16.18 7.58 5.97 23.05 2.89 131.35 0.86 146.97 36.75 12.27 27.71 3.04 1.06 85.85 6.18 791.48
PD003 PD317 16 17 Limestone 48.64 3.75 1.96 1.00 4.50 0.71 24.98 0.25 25.19 6.35 6.14 5.00 0.61 0.29 27.05 1.73 158.14
PD004 PD401 0 1 Clay 40.41 3.12 1.99 0.80 3.25 0.69 18.18 0.32 19.25 4.82 18.87 3.88 0.56 0.31 19.05 2.03 137.52
PD004 PD402 1 2 Clay 62.77 3.39 2.30 0.82 3.16 0.72 19.82 0.40 18.08 4.70 22.09 3.70 0.58 0.38 20.57 2.62 166.09
PD004 PD411 10 11 Sand 156.01 7.40 3.66 2.78 9.60 1.39 45.27 0.48 59.95 14.75 4.45 12.41 1.45 0.56 30.48 3.64 354.27
PD004 PD412 11 12 Sand 79.72 7.32 4.60 1.74 8.08 1.65 35.77 0.51 34.99 9.00 8.59 7.39 1.24 0.64 54.99 3.75 259.97
PD004 PD413 12 13 Limestone 14.37 1.30 0.89 0.32 1.58 0.30 8.28 0.09 7.81 1.91 2.45 1.65 0.28 0.11 12.83 0.60 54.78
PD004 PD414 13 14 Limestone 16.83 1.73 0.83 0.49 1.94 0.34 9.07 0.11 8.42 2.13 3.37 1.67 0.25 0.13 13.71 0.73 61.76
PD004 PD415 14 15 Limestone 18.30 1.68 0.88 0.43 1.74 0.36 9.02 0.11 8.64 2.18 2.45 1.58 0.28 0.14 11.94 0.87 60.58
PD005 PD501 0 1 Clay 57.37 3.93 2.29 0.96 4.02 0.71 22.87 0.28 22.51 5.50 13.96 4.45 0.67 0.37 21.97 2.38 164.23
PD005 PD506 5 6 Sand 136.35 4.38 2.38 1.32 4.92 0.87 32.60 0.34 30.09 8.67 14.88 6.25 0.78 0.38 23.11 2.48 269.82
PD005 PD507 6 7 Clay 330.44 26.97 15.32 7.33 30.08 5.49 155.98 1.72 155.13 38.74 20.40 30.73 4.78 2.12 166.36 12.30 1,003.89
PD005 PD508 7 8 Limestone 24.94 7.87 4.80 1.45 7.84 1.73 27.80 0.44 24.96 5.42 5.68 5.28 1.27 0.63 68.57 3.45 192.12
PD006 PD601 0 1 Clay 66.21 7.13 4.15 1.54 7.48 1.51 32.84 0.48 32.78 7.68 13.19 6.81 1.12 0.61 49.40 3.67 236.58
PD006 PD623 22 23 Clay 175.66 14.81 9.18 3.66 17.29 3.25 79.87 1.14 79.20 19.66 13.50 15.07 2.57 1.28 121.28 7.42 564.83
PD006 PD624 23 24 Clay 54.54 3.70 2.20 1.04 4.32 0.77 23.57 0.26 24.61 6.07 8.13 4.89 0.67 0.31 26.16 1.84 163.09
PD006 PD625 24 25 Clay 49.01 3.21 1.68 1.05 3.98 0.66 20.52 0.26 23.33 5.66 9.51 4.48 0.62 0.25 20.19 1.54 145.97
PD006 PD626 25 26 Clay 185.49 11.71 5.17 3.96 14.87 2.06 67.20 0.67 86.08 21.07 9.97 16.93 2.13 0.77 65.53 4.70 498.30
PD006 PD627 26 27 Clay 146.18 9.18 4.63 3.15 12.10 1.72 52.54 0.53 69.40 17.55 7.36 14.15 1.71 0.59 53.84 3.85 398.50
PD006 PD628 27 28 Clay 124.07 7.01 3.53 2.54 9.62 1.36 45.86 0.41 57.97 14.39 8.44 11.46 1.37 0.49 41.27 2.86 332.65
PD006 PD629 28 29 Clay 114.49 7.82 4.19 2.40 9.42 1.55 45.86 0.50 56.45 13.69 9.66 10.77 1.40 0.59 48.13 3.55 330.47
PD006 PD630 29 30 Clay 83.53 5.00 2.48 1.76 6.83 1.00 31.55 0.30 40.47 9.88 7.67 7.97 0.98 0.35 29.46 2.07 231.31
PD007 PD701 0 1 Clay 51.96 4.19 2.62 0.98 4.26 0.84 22.87 0.39 22.98 6.13 15.34 4.59 0.69 0.40 24.13 2.51 164.87
PD007 PD702 1 2 Clay 59.45 4.26 2.53 1.12 4.61 0.86 32.25 0.38 27.53 6.92 21.63 5.26 0.71 0.40 27.05 2.71 197.67
PD007 PD703 2 3 Clay 54.66 4.34 2.47 0.97 4.13 0.84 32.13 0.40 24.38 6.68 26.53 4.81 0.66 0.40 25.14 2.66 191.21
PD007 PD704 3 4 Sand 137.58 6.71 3.84 2.01 6.89 1.34 35.18 0.59 38.61 10.03 13.34 9.22 1.17 0.62 30.22 4.18 301.55
PD007 PD705 4 5 Clay 388.17 28.58 15.55 9.08 37.11 5.70 189.99 1.73 202.95 51.73 12.12 40.24 5.19 2.04 182.87 12.07 1,185.13
PD007 PD706 5 6 Limestone 124.07 8.55 4.97 2.76 10.75 1.81 56.29 0.57 59.14 14.63 5.83 11.54 1.59 0.67 60.19 3.79 367.15
PD007 PD707 6 7 Limestone 65.11 4.79 2.70 1.24 5.29 0.97 31.67 0.35 32.89 7.89 4.91 6.41 0.78 0.34 34.03 1.82 201.19
PD007 PD708 7 8 Limestone 34.27 2.56 1.22 0.80 3.14 0.50 17.12 0.17 17.73 4.32 3.07 3.37 0.45 0.17 18.79 1.02 108.72
PD008 PD801 0 1 Clay 38.69 3.05 1.91 0.78 3.33 0.66 20.41 0.28 19.83 4.79 9.05 3.68 0.58 0.30 21.97 1.86 131.16
PD008 PD802 1 2 Clay 62.03 4.75 2.97 1.42 5.94 1.01 26.39 0.34 31.73 7.79 13.96 6.22 0.81 0.43 29.33 2.63 197.75
PD008 PD803 2 3 Clay 49.26 3.31 1.91 0.79 3.08 0.63 22.75 0.27 20.88 5.45 19.17 3.84 0.45 0.29 20.45 1.75 154.27
PD008 PD804 3 4 Clay 48.28 4.35 2.97 0.76 4.05 0.95 26.97 0.50 22.74 5.92 20.09 4.45 0.66 0.47 28.70 3.10 174.97
PD008 PD805 4 5 Clay 62.28 4.09 2.71 0.68 3.75 0.85 28.97 0.43 22.16 6.00 17.95 4.74 0.63 0.43 25.40 2.92 183.99
PD008 PD815 14 15 Clay 135.12 10.33 6.17 2.80 12.33 2.37 73.65 0.78 60.30 16.97 9.82 13.22 1.90 0.85 55.11 4.83 406.56
PD008 PD816 15 16 Clay 99.75 8.56 4.92 2.21 9.69 1.84 49.14 0.59 46.31 11.47 15.18 9.21 1.44 0.70 62.61 4.05 327.67
PD008 PD817 16 17 Clay 91.15 7.41 4.16 1.85 8.69 1.51 40.81 0.48 40.36 9.97 14.26 8.62 1.22 0.61 57.27 3.68 292.05
PD008 PD818 17 18 Limestone 33.17 2.66 1.50 0.71 3.10 0.63 15.36 0.16 16.33 3.80 6.14 3.12 0.47 0.23 20.32 1.46 109.15
PD008 PD819 18 19 Limestone 12.06 1.18 0.58 0.35 1.18 0.23 6.72 0.07 6.51 1.56 2.30 1.24 0.18 0.08 8.99 0.49 43.72
PD009 PD905 4 5 Clay 41.52 4.01 2.39 0.91 3.92 0.78 22.75 0.33 21.58 5.25 14.72 4.45 0.64 0.34 22.86 2.06 148.53
PD009 PD906 5 6 Clay 73.95 6.69 3.38 1.78 6.79 1.19 39.17 0.42 38.72 9.75 22.09 7.87 1.17 0.51 36.07 3.19 252.76
PD009 PD907 6 7 Clay 90.16 8.33 4.70 2.35 8.99 1.67 47.85 0.63 46.89 11.94 30.37 10.68 1.46 0.69 44.57 4.11 315.39
PD009 PD908 7 8 Clay 137.58 17.45 9.39 4.84 18.33 3.40 51.72 1.22 81.76 18.72 35.89 21.10 3.00 1.38 83.05 8.53 497.37
PD009 PD909 8 9 Clay 254.28 12.28 6.80 3.57 13.83 2.42 53.60 0.78 73.25 17.79 35.74 15.42 2.12 0.97 68.07 5.83 566.74
PD009 PD910 9 10 Clay 219.88 11.16 6.09 3.46 14.18 2.30 83.39 0.66 81.41 20.71 24.54 15.31 2.05 0.87 75.05 5.09 566.16
PD009 PD911 10 11 Limestone 49.14 3.70 1.94 1.17 4.26 0.78 23.93 0.22 25.43 6.31 9.51 4.96 0.64 0.27 22.10 1.65 156.00
PD009 PD912 11 12 Limestone 37.34 2.48 1.40 0.82 3.23 0.52 18.41 0.14 19.71 4.97 8.28 3.66 0.49 0.19 15.11 1.12 117.88
PD009 PD913 12 13 Limestone 30.83 2.00 1.01 0.63 2.36 0.39 14.07 0.11 15.16 3.82 5.98 2.92 0.35 0.14 11.56 0.87 92.19
PD009 PD914 13 14 Limestone 31.20 1.96 0.98 0.71 2.27 0.40 14.07 0.09 15.28 3.97 5.98 2.75 0.36 0.14 11.56 0.76 92.48
PD009 PD915 14 15 Limestone 30.34 1.82 1.07 0.71 2.46 0.33 14.19 0.09 15.51 3.92 6.14 3.27 0.36 0.14 11.58 0.73 92.66
PD009 PD916 15 16 Limestone 32.55 2.04 1.06 0.65 2.52 0.37 14.31 0.14 15.51 4.24 5.83 3.15 0.39 0.15 11.99 0.81 95.71
PD009 PD917 16 17 Limestone 31.08 1.91 0.88 0.74 2.10 0.36 13.25 0.10 15.28 3.76 5.68 2.96 0.33 0.13 10.79 0.73 90.06
PD010 PD1001 0 1 Other 63.88 8.56 4.63 2.67 10.70 1.74 72.01 0.48 64.50 15.80 11.04 11.83 1.51 0.63 69.21 3.55 342.74
PD010 PD1002 1 2 Clay 100.61 6.75 3.64 1.92 8.10 1.36 37.30 0.41 39.42 9.54 16.41 8.26 1.23 0.54 42.92 3.33 281.73
PD010 PD1003 2 3 Clay 83.04 5.78 3.14 1.66 6.64 1.20 34.48 0.39 35.69 9.14 14.72 7.29 1.08 0.46 36.32 2.71 243.75
PD010 PD1004 3 4 Limestone 14.99 1.39 0.65 0.44 1.67 0.26 8.78 0.09 9.38 2.18 3.99 2.01 0.25 0.10 9.73 0.61 56.52
PD010 PD1005 4 5 Limestone 17.20 1.65 0.96 0.51 1.86 0.32 9.08 0.10 10.00 2.39 4.14 2.05 0.29 0.13 11.12 0.74 62.53
PD010 PD1006 5 6 Limestone 18.67 1.66 0.87 0.53 2.10 0.36 10.66 0.09 11.90 2.95 3.99 2.20 0.30 0.11 10.41 0.66 67.47
PD010 PD1007 6 7 Limestone 16.71 1.43 0.64 0.54 1.73 0.27 9.12 0.09 10.36 2.52 4.29 1.86 0.25 0.10 8.36 0.69 58.97
PD010 PD1008 7 8 Limestone 22.23 1.63 0.85 0.51 1.82 0.33 10.34 0.11 11.90 2.94 5.52 2.40 0.31 0.13 8.99 0.72 70.73
PD011 PD1101 0 1 Clay 55.89 4.06 2.42 1.02 4.24 0.84 20.88 0.32 21.23 5.37 26.23 4.58 0.64 0.38 21.08 2.38 171.56
PD011 PD1102 1 2 Clay 719.84 60.60 32.13 18.29 71.12 11.80 294.37 3.46 398.91 97.02 32.06 81.40 10.68 4.56 276.84 26.99 2,140.06
PD011 PD1103 2 3 Clay 228.48 28.23 14.52 9.08 36.88 5.62 193.51 1.51 213.45 52.55 24.69 39.54 5.10 1.92 156.20 10.54 1,021.84
PD011 PD1104 3 4 Limestone 71.00 9.77 4.72 2.48 11.09 1.91 46.09 0.45 52.49 12.05 10.28 10.92 1.73 0.63 64.13 3.46 303.20
PD012 PD1210 9 10 Clay 77.63 4.33 2.31 1.35 5.12 0.95 34.25 0.30 31.38 8.36 11.81 5.79 0.81 0.38 27.30 2.49 214.54
PD012 PD1211 10 11 Limestone 32.68 2.87 1.67 0.74 2.97 0.64 19.47 0.16 18.66 4.63 5.83 3.84 0.46 0.23 21.59 1.36 117.79
PD012 PD1212 11 12 Limestone 37.10 3.04 1.19 0.86 3.62 0.56 19.47 0.19 21.35 5.22 7.82 4.26 0.54 0.18 19.18 1.16 125.73
PD012 PD1213 12 13 Limestone 31.20 2.24 1.25 0.73 2.48 0.45 14.31 0.13 16.91 4.14 6.90 3.14 0.44 0.17 13.46 0.93 98.88
PD012 PD1214 13 14 Limestone 38.08 2.71 1.52 0.80 3.04 0.56 16.18 0.17 18.66 4.55 10.12 3.57 0.48 0.22 13.71 1.29 115.68
PD012 PD1215 14 15 Limestone 40.78 3.14 1.56 0.86 3.46 0.61 18.65 0.22 21.35 5.22 9.05 4.43 0.54 0.23 16.00 1.38 127.46
PD012 PD1216 15 16 Limestone 35.26 2.63 1.46 0.78 2.69 0.52 15.83 0.16 18.31 4.38 7.52 3.33 0.45 0.21 14.60 1.16 109.27
PD013 PD1303 2 3 Clay 318.16 25.13 13.15 6.72 26.74 4.96 86.32 1.59 121.31 28.67 32.98 28.76 4.22 1.93 140.96 11.84 853.44
PD013 PD1304 3 4 Limestone 85.50 9.30 5.15 3.25 13.25 2.05 75.76 0.56 78.62 18.61 9.66 14.73 1.65 0.70 90.29 3.88 412.95
PD013 PD1305 4 5 Limestone 32.31 3.76 2.04 1.20 4.46 0.71 25.22 0.25 28.93 6.79 5.68 5.16 0.63 0.27 31.87 1.54 150.82
PD013 PD1306 5 6 Limestone 27.88 2.72 1.48 0.89 3.35 0.53 17.47 0.17 19.48 4.65 5.06 3.73 0.41 0.21 23.49 1.24 112.77
PD013 PD1307 6 7 Limestone 24.94 2.67 1.54 0.76 3.04 0.61 14.54 0.19 16.80 3.97 4.45 3.15 0.46 0.22 25.78 1.23 104.36
PD013 PD1308 7 8 Limestone 29.36 2.79 1.70 0.74 3.27 0.61 16.18 0.20 17.96 4.38 5.21 3.61 0.48 0.24 26.54 1.40 114.69
PD013 PD1309 8 9 Limestone 29.60 2.61 1.37 0.83 3.30 0.50 16.30 0.17 18.66 4.40 5.37 3.68 0.45 0.19 21.72 1.20 110.35
PD013 PD1310 9 10 Limestone 28.38 2.41 1.32 0.79 2.88 0.45 15.01 0.15 17.15 3.97 4.75 3.20 0.38 0.18 17.65 1.08 99.74
PD013 PD1311 10 11 Limestone 34.03 2.46 1.38 0.76 3.38 0.54 16.54 0.17 18.20 4.38 5.68 3.70 0.48 0.18 18.67 0.99 111.52
PD014 PD1401 0 1 Clay 86.85 6.03 3.59 1.90 7.62 1.33 33.19 0.47 40.12 9.68 10.74 8.09 1.07 0.49 41.78 2.74 255.69
PD014 PD1425 24 25 Clay 131.44 10.21 5.48 2.47 12.45 2.02 68.26 0.78 69.98 17.20 9.20 14.03 1.86 0.82 52.95 5.20 404.37
PD014 PD1426 25 26 Clay 76.28 6.46 3.97 1.46 7.27 1.32 37.88 0.49 38.37 9.30 5.21 8.05 1.04 0.59 40.13 3.67 241.50
PD014 PD1428 27 28 Clay 51.96 4.37 2.16 1.20 4.48 0.82 24.04 0.30 24.14 5.92 7.21 4.85 0.73 0.33 25.91 2.12 160.55
PD014 PD1429 28 29 Mudstone 41.03 2.71 1.48 0.75 3.20 0.52 17.71 0.20 17.96 4.46 7.36 3.68 0.46 0.22 16.00 1.34 119.08
PD014 PD1430 29 30 Mudstone 36.61 2.56 1.38 0.69 2.94 0.54 16.42 0.18 16.91 4.35 6.44 3.46 0.45 0.19 15.87 1.25 110.26
PD014 PD1431 30 31 Mudstone 38.94 2.51 1.50 0.71 2.89 0.50 16.89 0.18 17.03 4.22 7.98 3.48 0.43 0.22 15.37 1.29 114.13
PD014 PD1432 31 32 Mudstone 38.08 2.51 1.41 0.72 2.95 0.49 16.89 0.18 16.80 4.49 7.82 3.54 0.45 0.19 14.48 1.13 112.13
PD015 PD1501 0 1 Sand 12.65 1.08 0.64 0.21 0.98 0.23 5.76 0.10 5.61 1.43 0.77 1.03 0.15 0.10 6.53 0.68 37.95
PD015 PD1502 1 2 Sand 8.55 0.75 0.37 0.09 0.60 0.13 4.37 0.08 3.53 0.91 0.46 0.70 0.13 0.07 4.57 0.52 25.83
PD015 PD1525 24 25 Limestone 35.99 3.39 2.05 0.89 3.94 0.74 16.54 0.28 18.08 4.40 3.37 4.02 0.59 0.31 23.37 1.92 119.89
PD015 PD1526 25 26 Limestone 32.80 3.14 1.77 0.81 3.43 0.66 14.89 0.20 16.56 4.04 2.61 3.75 0.54 0.25 19.30 1.55 106.32
PD016 PD1627 26 27 Sand 95.32 9.98 5.31 2.67 11.76 1.97 40.46 0.61 54.00 12.29 9.51 11.51 1.73 0.73 64.64 4.26 326.76
PD016 PD1628 27 28 Clay 66.82 6.94 3.61 1.81 7.98 1.31 28.50 0.41 36.16 8.36 5.98 7.42 1.24 0.54 43.43 3.29 223.80
PD016 PD1629 28 29 Clay 39.55 3.65 2.10 1.02 4.37 0.73 17.59 0.23 20.18 4.77 4.29 3.97 0.64 0.31 22.60 1.87 127.89
PD016 PD1632 31 32 Clay 49.38 4.42 2.81 1.04 5.04 0.93 22.17 0.39 23.56 5.93 7.82 4.72 0.67 0.42 37.72 2.69 169.70
PD016 PD1633 32 33 Clay 39.68 2.78 1.54 0.86 3.19 0.54 17.12 0.23 16.56 4.55 8.59 3.35 0.45 0.23 17.40 1.38 118.45
PD016 PD1635 34 35 Clay 35.26 2.38 1.38 0.61 2.58 0.42 14.89 0.16 14.00 3.77 8.13 2.64 0.36 0.18 12.95 1.04 100.75
PD016 PD1636 35 36 Limestone 38.69 2.24 1.33 0.79 2.43 0.46 16.42 0.18 15.28 4.13 10.58 3.32 0.40 0.19 13.46 1.13 111.03
PD016 PD1637 36 37 Limestone 41.40 2.34 1.25 0.81 2.84 0.52 17.36 0.17 16.56 4.52 10.58 3.65 0.38 0.19 14.10 1.30 117.96
PD017 PD1701 0 1 Sand 29.36 2.07 1.51 0.56 2.41 0.47 12.67 0.25 13.88 3.56 6.75 2.75 0.37 0.23 14.22 1.50 92.54
PD017 PD1723 22 23 Clay 101.22 7.15 4.47 2.15 7.94 1.47 45.27 0.57 41.99 10.65 16.26 8.67 1.27 0.63 46.22 3.71 299.64
PD017 PD1724 23 24 Clay 39.06 2.51 1.44 0.75 2.88 0.53 16.89 0.18 16.91 4.34 4.45 3.48 0.44 0.22 14.98 1.33 110.40
PD017 PD1725 24 25 Clay 38.33 2.40 1.46 0.81 2.95 0.47 16.07 0.17 16.91 4.39 4.91 3.40 0.44 0.21 14.48 1.21 108.59
PD017 PD1726 25 26 Clay 83.16 5.99 3.51 1.53 6.55 1.16 36.71 0.49 37.09 9.25 12.88 7.44 1.02 0.48 36.19 2.80 246.26
PD018 PD1820 19 20 Clay 162.15 11.43 6.43 2.94 13.02 2.35 66.26 0.92 73.83 18.26 17.79 15.89 2.04 0.99 56.89 6.41 457.61
PD018 PD1823 22 23 Clay 158.46 13.20 7.63 3.54 14.98 2.75 62.86 0.94 72.08 17.91 22.70 15.42 2.39 1.07 80.51 6.32 482.78
PD018 PD1826 25 26 Clay 51.96 3.72 2.24 0.91 4.14 0.73 20.76 0.23 22.74 5.52 6.60 4.88 0.68 0.30 22.60 1.63 149.65
PD018 PD1827 26 27 Clay 45.57 3.44 2.17 0.82 3.34 0.68 18.88 0.24 20.06 4.90 8.44 4.16 0.59 0.27 20.19 1.46 135.23
PD018 PD1828 27 28 Clay 45.21 3.01 1.62 0.87 3.53 0.62 19.23 0.20 19.48 4.72 9.66 4.09 0.55 0.23 18.29 1.31 132.62
PD018 PD1829 28 29 Clay 40.54 2.73 1.66 0.79 2.58 0.56 17.59 0.23 16.45 4.40 9.36 3.63 0.44 0.24 15.87 1.41 118.47
PD018 PD1830 29 30 Clay 40.91 2.66 1.65 0.71 2.47 0.53 18.06 0.18 16.68 4.45 11.20 3.18 0.41 0.24 15.75 1.40 120.46
PD018 PD1831 30 31 Clay 41.03 2.50 1.51 0.75 3.01 0.48 17.71 0.17 17.15 4.47 8.74 3.34 0.48 0.22 15.49 1.37 118.42
PD018 PD1832 31 32 Clay 41.27 2.40 1.51 0.73 2.77 0.56 18.06 0.22 17.61 4.55 11.04 3.55 0.43 0.23 16.00 1.43 122.36
PD018 PD1833 32 33 Clay 36.97 2.43 1.41 0.66 2.62 0.50 15.95 0.22 14.81 4.08 10.58 2.75 0.46 0.21 14.35 1.26 109.27
PD018 PD1834 33 34 Clay 39.55 2.16 1.56 0.65 2.70 0.50 17.59 0.20 15.86 4.17 9.66 3.63 0.41 0.22 14.35 1.29 114.50
PD018 PD1835 34 35 Clay 36.24 2.22 1.48 0.76 2.69 0.45 16.07 0.15 15.16 3.90 8.59 3.01 0.35 0.19 13.71 1.07 106.03
PD018 PD1836 35 36 Clay 36.73 2.46 1.53 0.60 2.77 0.47 15.95 0.17 16.68 4.05 9.82 2.68 0.40 0.19 13.33 1.01 108.84
PD018 PD1837 36 37 Clay 39.06 2.41 1.43 0.67 2.90 0.47 17.12 0.18 15.51 4.05 9.20 3.25 0.43 0.19 14.60 1.09 112.58
PD018 PD1838 37 38 Clay 38.57 2.33 1.40 0.79 2.51 0.47 16.65 0.19 15.86 4.12 8.90 3.13 0.38 0.21 13.59 1.21 110.30

Conclusions

Results from Savic's preliminary drilling program within EL6968 have successfully confirmed the presence of REE mineralisation within the interpreted Bookpurnong Formation of the Murray Basin. This mineralisation is interpreted to represent a continuation of the mineralised clays observed within AR3's Koppamurra Project located immediately adjacent and to the west of EL6968. Whilst Savic's exploration work is early-stage, scout drilling, these results provide encouragement for the delineation of REE mineralisation within the licence area. Additional exploration drilling is recommended to define the extents of this mineralisation.

SRK's geologist, Ben Jupp B.Sc.(Hons), MAIG, is a Qualified Person in the context of National Instrument 43-101, and has read and approved the technical content of this News Release.

About Lions Bay Capital Inc.

Lions Bay Capital Inc. is a TSX-V listed Investment Issuer that is focused on high return investment opportunities, principally in the mining, clean energy and clean technology sectors, where it provides public and private companies with strategic and financial support.

On behalf of the Board of Lions Bay.

John Byrne
Executive Chairman
Tel: +61 3 9236 2800
Email: jbyrne@lionsbaycapital.com

For more information, please visit the corporate website at www.lionsbaycapital.com or contact the above.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Disclaimer & Forward-Looking Statements: This news release contains forward-looking statements. Forward-looking statements are statements that relate to future events or future financial performance. In some cases, you can identify forward-looking statements by the use of terminology such as "may", "should", "intend", "expect", "plan", "anticipate", "believe", "estimate", "project", "predict", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements speak only as of the date of this news release. This news release may also contain inferences to future oriented financial information ("FOFI") within the meaning of applicable securities laws. The information in this news release has been prepared by our management to provide readers with an outlook for our future activities.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/110977

Related News

Recent U.S. Press Releases

More Press Releases »

Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today