Winsome looks to quickly scale up Adina lithium project in Quebec

The project’s recent declaration of a 59 million inferred tonnes grading 1.12% lithium oxide for 1.6 million tonnes of lithium carbonate equivalent firmly placed it on the North American map of emerging lithium deposits, ranking among the most significant hard rock deposits on the continent.

“Winsome is one of the very few lithium developers around the world with a large high-quality resource in a Tier 1 mining jurisdiction, which can integrate directly into the North American electric vehicle supply chain,” Chris Evans, Winsome’s managing director, said in an interview with The Northern Miner.

As the energy transition accelerates, Quebec is becoming a key player due to its rich lithium deposits, crucial for electric vehicle batteries. Companies like Perth-based Winsome strategically target Quebec for its mining-friendly environment and to tap into the need for local lithium to feed the region’s fast-developing EV supply chain.

Noting the heavy presence of Australian companies exploring in Quebec, Evans says they are the logical people to lead the Quebec projects forward, given their experience at home with hard rock lithium mining.

Evans brings to Winsome nearly two decades of experience managing large construction and mining projects in various commodities, with a strong focus on lithium and civil engineering. He served as the chief operating officer responsible for building and operating the Pilgangoora lithium mine and processing facility, later acquired by Pilbara Minerals (ASX: PLS) for over A$200 million. Later, as managing director of a lithium development company listed on the ASX, he played a key role in establishing and maintaining important relationships with finance and off-take partners.

Winsome’s ability to quickly move from discovery of Adina in 2017/18 to its first resource this year is a testament to the company’s exploration strategy, Evans said. It took 27,600 metres of drilling to establish the initial resource, with five rigs currently conducting infill and extensional drilling at the site.

Over 25,000 metres of completed infill and extensional drilling at Adina, with assay results expected in early 2024, are set to enhance the project’s initial resource estimate in the first half of 2024.

The company has identified a 3.1-km strike of lithium mineralization across two primary zones, Main and Footwall, with significant expansion potential in all directions, Evans said.

Ongoing drilling is exploring these extensions, linking Adina Main with adjacent areas. At the same time, the company is advancing preliminary development studies, including initial mine designs and environmental assessments, in collaboration with local Eeyou Istchee James Bay Cree and Quebec stakeholders.

Process engineering plans are also moving forward, leveraging previous successful metallurgical testing, with further core collection scheduled for the current quarter.

Evans believes the Adina project’s unique composition of two nearby spodumene-bearing pegmatite zones positions it for efficient development as a significant mining operation.

While Patriot Battery Metals (TSXV: PMET; ASX: PMT; US-OTC: PMETF) has garnered attention for its nearby Corvette discovery, made in late 2021, Evans notes Winsome made its find several years earlier and says the discoveries were unrelated.

Looking ahead, Winsome has prepared a busy plan for Adina. With a financial war chest of A$60 million (about $53.4 million), the company is planning over 50,000 metres of infill and step-out drilling in 2024.

“As we progress into 2024, Adina is poised to become a cornerstone in the North American lithium supply chain,” Evans said.

Winsome shares have been on a rollercoaster ride over the past 12 months, touching a high at A$5.43 and a low at A$3.10. It closed at A$3.74 Friday, giving it a market capitalization of A$11.3 billion (about $10 billion).