Foster Stockbroking Report – Hidden lithium jewel in QuebecAugust 29, 2023
Du bureau du directeur généralOctober 2, 2023
From the Managing Director's desk
Dear Shareholders and Stakeholders,
The past month has seen a hive of activity at Winsome, as we further the incredible potential of our projects in the James Bay region of Quebec.
We started September strong, remobilising the first two drill rigs of the planned five back to Adina after the enforced pause in operations due to wildfires in July and August. Another two rigs joined our efforts this month and we anticipate the arrival of the fifth and final rig in early October.
Our initial action towards enhancing rig mobility, reducing helicopter dependency, and boosting drilling efficiency involved airlifting a dozer/backhoe to Adina using a heavy-lift helicopter.
Over the next eight weeks, we will equip the four rigs primarily focused on resource development drilling with tracks. Meanwhile the fifth rig will continue to be helicopter-mounted, allowing us to explore new areas at Adina. This approach enables us to investigate potential mineralised zones, which if found, may significantly increase the projects resource size.
To accelerate turnaround times for assay results, Winsome has been in discussions with local laboratory provider SGS, with plans to locate a sample preparation in the nearby town on Radison. The strategic move is anticipated to enhance both the speed of assay results and the overall efficiency and robustness of the site’s laboratory logistics chain.
This will both increase our sample preparation capacity and simplify the transportation of our samples, as Winsome will receive priority access to the new facility.
We have recently received more encouraging assay results from Adina, with both the Footwall Zone and Main zone producing another series of high-grade lithium mineralisation hits.
Importantly, this latest round of assays confirmed the Footwall Zone continues towards surface, adding more than 100 metres of mineralisation to this zone.
Continual strong results and consistent expansion of mineralisation zones at Adina further emphasises the lithium potential at our flagship project, providing even more confidence as we edge closer towards defining our Maiden Resource.
In a milestone moment for Winsome, we announced a boost to our local presence in Quebec with the opening of a dedicated operations office in Val-d’Or last month.
This is the first stage in a progressive move in Winsome’s plans to increase its presence on the ground in Quebec, with plans to add a satellite office in the James Bay region – either Mistissini or Chibougamau.
Val-d’Or is the heart of the Quebec mining industry and having a local headquarters will provide greater opportunity for the local team to collaborate with local Government and community stakeholders, including the Cree Nation of Mistissini.
We are committed to fostering strong relationships with the communities we operate in, and having a devoted office in in Val-d’Or only reinforces that sentiment.
I am currently on the ground in Quebec, along with the entire Winsome Senior Leadership Team, and we’re thoroughly enjoying our time spent at the Mistissini Community, our valued First Nations partners at Adina. During our visit, we’re engaged in various discussions, including the strategic planning of the access road route from Adina to the Trans Taiga Highway. Our primary focus is to ensure minimal environmental impact while meeting the needs and preferences of all local stakeholders.
The recent activity at Winsome has received profound feedback from investors, stakeholders, and other exploration companies, particularly as the conference circuit has begun to heat up.
I also had the pleasure of attending and presenting at New World Metals in Sydney this month and am pleased to report Winsome’s presentation attracted significant attention, as well as offering the opportunity for me to personally meet numerous shareholders who gave up their time to attend the conference and hear the Winsome Story. Thank you to all those who managed to attend.
This followed exceptional attendance for our webinar earlier in September and I want to thank you, our shareholders, for continuing to support our development of world-class lithium projects.
Winsome’s position in the global lithium exploration market has not gone unnoticed and I expect the spotlight will continue to shine even brighter on our highly prospective Adina project.
As we enter the final quarter of 2023, I look forward to keeping you informed of Winsome’s progress.