Focus Xplore plc said it was encouraged by assays of rock chip samples taken during phase I exploration at its rare earth element and lithium prospective pegmatites licences in Ontario, Canada.
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The acreage comprises the Bay Road REE project and the Iva, Oba, Ellie, Pearl and Burrows lithium projects.
Returns from pegmatite and granite samples showed that Bay Road and Iva had “elemental ratios and values consistent with moderate levels of fractionation within locally enriched, or ‘fertile’ granites”.
“The presence of enriched granites is a key indicator for the formation of the target lithium and rare earth element pegmatite systems,” added the company.
Focus said that results to date had yet to identify significant lithium or REE mineralisation.
The results also mark the completion of whole-rock laboratory analysis on 73 field samples, including 26 samples identified as pegmatites.
Focus will complete analysis of recent laboratory results, reassess historical data and initial AI prospectivity modelling, before reviewing its options for further work at Bay Road.
The company also plans new exploration in the western part of Pearl, to which it has not yet gained access.
“Our first field season in Ontario has already covered a wide selection of target areas across the company’s project portfolio,” said chief executive officer Patrick Cullen.
“We are pleased with that progress and have laid the foundations for future work.”
Focus is also pursuing new opportunities in both AI and exploration for lithium, REE, and uranium and evaluating opportunities in “critical” and precious minerals.