Lithium One Project
The Lithium One Project is located approximately 125 kilometres northeast of Winnipeg, Manitoba. Historically the area is known for the presence of over 40 surface pegmatites of various dimensions and compositions. Past exploration in the region has focused on the lithium, beryllium and tantalum potential of the pegmatites. Bulk samples were removed from the pegmatites in the 1930's but no large scale mining was undertaken due changes in the market conditions and commodity prices after the war. Lithium minerals were previously considered for the medical and ceramic industry, however in recent years lithium has seen an exploration in the region.
Management’s technical team is presently planning a 2016 exploration program for the Lithium One Project.
The option on the Lithium One Project was acquired from Cliff Allbutt of Winnipeg, Manitoba, the optionor. The project area is part of the Winnipeg River Pegmatite Field. This pegmatite field is host to the world-class Tanco Mine, which has been one of the world’s richest mines for tantalum, cesium and spodumene (a major source of lithium). The mine began operations in 1969 and is still producing today.
PFN has a two year option to purchase 100% interest in the 11 unpatented contiguous mining claims. The claim area is 2,272 hectares (5,614 acres) and is situated 8.5 kilometres southeast of the Tanco Mine Site. Management believes that from the historic work on the surface pegmatites and the reported assays from that time period, that there is economic potential for further lithium (Li) mineralization.
- Option to acquire 100% of a strategic lithium project
- Claims situated 8.5 km SE of the Tanco Mine Site
- 40 historical surface pegmatites, many lithium bearing
- Objective to develop an economic lithium hard rock project
- Exploration planning in progress