The North Mistassini Project is wholly owned by Austroid Resources Canada and is located within the Assinica Fauna Reserve approximately 245km northeast of the town of Chibougamau (295km by road) and 700km north of Montreal in the Eeyou-Istchee James Bay region of northern Quebec (Figure 1).
The projects tenement package covers approximately 434km2 and comprises of 822 claims. The project is accessible by the 167 highway and can be found on the NTS sheet 32P15 and 32P16.
The project is located in a mining friendly jurisdiction, and in a proven lithium mining province in the Eeyou-Istchee James Bay region. The region hosts proven lithium resources including Nemaska Lithium’s Whabouchi project, Allkem’s James Bay and Sayona’s Moblan project.
North Mistassini Project located in the western Superior Province within the Temisoamian Subprovince. The greenstone belt consists of ancient volcanic and sedimentary rocks, while the intrusives include granites and granodiorites (Figure 2). These rocks have the potential to host valuable mineral deposits such as gold, base metals, and rare earth elements. Additionally, pegmatite intrusions are present, which can contain minerals like spodumene, a significant source of lithium. The region's geological features indicate the potential for mineral exploration and the presence of valuable resources, including gold, base metals, rare earth elements, and lithium.
There has been no lithium exploration conducted in the project area. The area has been historically explored primarily for gold, base metals, and silver. The current exploration activity is also considering the potential for lithium mineralisation due to the presence of pegmatites.