Winsome Resources has completed a focused drilling campaign at its Adina Lithium Project and revealed new high-grade cesium-lithium mineralised zones at Sirmac-Clapier, while strengthening its stake in Power Metals Corp.
- Completion of 5,302m drilling at Adina targeting resource upgrade and geotechnical data
- New high-grade cesium-lithium zones discovered at Sirmac-Clapier with pollucite confirmed as cesium mineral
- Environmental baseline and geotechnical studies advancing to support Adina feasibility
- Winsome holds 16.1% stake in Power Metals Corp valued at approximately C$25.5 million
- Withdrawal from Renard Project call option to prioritise Adina and capital discipline
Focused Drilling Campaign at Adina
Winsome Resources Limited (ASX, WR1) has wrapped up a significant drilling program at its flagship Adina Lithium Project in Quebec, completing 29 holes totaling 5,302 meters. The campaign aimed to delineate and extend the existing resource, currently estimated at 78 million tonnes at 1.15% lithium oxide, while also gathering critical geotechnical and hydrological data to refine mine planning and pit design. The drilling was funded through Canadian Flow-Through Share proceeds, ensuring compliance with exploration expense requirements.
Results from this drilling are eagerly awaited in the December quarter, with expectations that some of the inferred near-surface mineralisation could be upgraded to the higher-confidence indicated category, potentially enhancing the project's economic profile.
New Cesium Discoveries at Sirmac-Clapier
Meanwhile, exploration at the Sirmac-Clapier project has yielded promising new mineralised zones. Follow-up sampling from the June quarter confirmed multiple new occurrences of high-grade cesium-lithium mineralisation within 1 km of the original discovery outcrop. Notably, pollucite; the globally recognised primary cesium ore; has been confirmed as the cesium-bearing mineral, a critical step toward establishing a saleable product.
Assays revealed exceptional cesium oxide grades, with some samples exceeding 4% Cs₂O, alongside lithium grades averaging 1.69% Li₂O at the discovery site. These findings underscore the potential for expanding the resource along strike and under cover, supporting further field investigations planned for later this year.
Advancing Project Development and Environmental Studies
Winsome is progressing environmental baseline studies and geotechnical work to underpin the Adina Feasibility Study. These efforts include wetland and fish habitat assessments, geomechanical testing for slope stability, and hydrological modeling to inform mine planning and environmental management. The company has integrated regulatory directives without requiring major changes to its study scope, reflecting a disciplined approach to permitting.
Corporate Moves and Strategic Focus
On the corporate front, Winsome has solidified its position as the largest shareholder in Power Metals Corp (TSXV, PWM), now holding a 16.1% equity stake following the issuance of 17.65 million shares related to the 2023 sale of the Decelles and Mazerac projects. This stake, valued at approximately C$25.5 million, complements Winsome’s exposure to critical minerals in Canada, including lithium, cesium, and tantalum, with offtake rights secured for Power Metals’ Case Lake Project.
In a strategic pivot, Winsome formally withdrew from the call option agreement to acquire the Renard Diamond Project, choosing to concentrate resources on advancing Adina. However, the company remains engaged with Stornoway Diamonds, government bodies, and First Nations groups to explore collaborative opportunities that leverage synergies between the Adina and Renard projects.
Strong Financial Position and ESG Commitment
Winsome maintains a robust liquidity position with A$14.5 million in cash and significant market value in Power Metals shares. Health and safety protocols were successfully upheld during drilling activities, with no injuries reported. The company continues active engagement with provincial and federal governments, as well as First Nations communities, particularly the Cree Nation of Misstissini, emphasizing its commitment to responsible development and social license.
Bottom Line?
As assay results and feasibility studies unfold, Winsome’s disciplined focus on Adina and strategic partnerships will be critical to unlocking value in a competitive critical minerals landscape.
Questions in the middle?
- What will the upcoming assay results reveal about the potential upgrade of Adina’s lithium resource?
- How might Winsome leverage its increased stake in Power Metals to accelerate critical minerals development?
- What forms of collaboration could emerge between Winsome and Stornoway around the Renard and Adina projects?