The more uncertain the times, the more remarkable the success stories which have emerged from of certain sectors of the economy.
The junior mining world heard yet another such tale on Tuesday, with news that Kelowna, B.C.-based Enertopia Corporation (OTC:ENRT) appears to have found rich lithium samples from its current property.
ENRT said all drill core sample assays have been received from the four resource definition holes and one metallurgical test hole. The best hole for grade and thickness was what it called TOP-02, averaging 1,231 parts per million lithium (ppm Li) over 262 feet, including 1,368 ppm Li over 186 feet in the main reduced zone.
Drilling confirms widespread lithium mineralization on the property. The average grade and thickness from our four-hole drill program was approximately 1,120 ppm li over an average thickness of 284 feet. A higher-grade zone inside the total lithium horizon averaged more than 1,225 ppm over an average thickness of 177 feet.
According to ENRT President Robert McAllister, “Drilling has not only verified the Company’s expectations for the potential of the lithium horizon on our property, but we have been able to show by the drill bit that the drill intersections to date indicate any future outlined resource could have Lithium values exceeding those of the proposed high-grade starter pit envisioned (earlier).”
Investors warmed to the news, bumping the share price of ENRT by 32.3% to 2.5 cents, on volume of 1.7 million shares.
