VRIC JV Video: Libra lines up first drill test at Stimson lithium prospect

Libra Energy Materials (CSE: LIBR; US-OTC: LIBRF) plans to drill its first hole this year at the Stimson lithium prospect in Ontario after building a 37-project portfolio during the sector downturn, CEO Koby Kushner said.

The planned first test at Stimson targets stacked pegmatites logged in a historic drillhole that was never assayed, on ground immediately west of Power Metals’ (TSXV: PWM; US-OTC: PWRMF) Case Lake project along the same sub-province boundary. Libra ranks targets by “explorability” and the “size of the prize,” typically chasing pegmatites with more than 30 metres of true-width potential, Kushner said.

“We’ve assembled over 20 lithium-bearing pegmatites,” Kushner told The Northern Miner’s Western Editor, Henry Lazenby. “All of them are un-drilled and you only need one of them to work for something to be a company-making discovery.”

KoBold Metals, the U.S.-based explorer backed by billionaires including Jeff Bezos and Bill Gates, can earn up to a 75% interest in three Ontario projects by spending up to $33 million (US$24.2 million) over six years. It has retained Libra as an exploration contractor for $35,000 a month over two years.

Watch the full interview below:

The preceding Joint Venture Article is PROMOTED CONTENT sponsored by Libra Energy Materials and produced in co-operation with The Northern Miner. Visit: https://libraenergymaterials.com/ for more information.