Vision Lithium produces 99.99% pure Li₂CO₃ from Sirmac property, stock explodes

The Sirmac property is located approximately 200 km south of Nemaska’s Whabouchi lithium mine and 180 km by road northwest of Chibougamau, Quebec. It consists of 35 mining claims covering approximately 1,573 hectares.

Outcrop samples and drill core samples from the 2018 drilling program, as well as from the Nemaska drilling program of 2012 on the main #5 dike, were sent to SGS for metallurgical tests for a preliminary economic assessment (PEA) level metallurgical test work program.

The samples were combined into one main composite, one high-grade composite and three variability samples, based on instructions provided by Vision Lithium. The metallurgical test work program included sample preparation, mineralogical analysis, grindability, magnetic separation, heavy liquid separation (HLS), dense media separation (DMS) and flotation testing.

The tests were successful in recovering 88.3% of the lithium at a grade of 6.23% Li₂O, which was used as the starting point by SGS for producing lithium carbonate. Following receipt of these results, SGS then went on to make 91.9 grams of very high purity lithium carbonate in 2020.

Results from the lithium carbonate samples confirm that all specifications for trace elements are met and that this is a premium product, the company said.

Shares of Vision Lithium soared to an all-time high of C$0.95 during the early hours of trading. The stock was up nearly 50% to C$0.76 by 12:25 p.m. in Toronto.

The junior lithium miner has a current market capitalization of C$137.6 million. Nemaska Lithium is the company’s largest shareholder.