WhiteRock’s Banana project comes calling with high-grade lithium, broad

• First 17 holes from Spodumene Mountain deliver broad, high-grade lithium intercepts
• Spodumene Mountain prospect’s known pegmatite strike has more than doubled
• Further assays to support potential maiden resource for Spodumene Mountain in first half of next year

Special Report:WhiteRock Lithium has delivered thick, high-grade lithium assays from its Spodumene Mountain prospect in Canada, strengthening the case for a substantial mineralised system and supporting its ambitions for a maiden Mineral Resource Estimate next year.

Results from the first 17 holes of WhiteRock Lithium Corp (ASX:WLC) 2026 diamond drilling program at the Banana lithium project in Québec have confirmed multiple broad intersections grading above 1.8% lithium oxide (Li₂O).

Among the standout results were 84m at 1.84% Li₂O from just 8m and 51m at 2.24% Li₂O from 52.5m.

Other impressive intersections included 40.9m at 2.16% Li₂O from 171.2m and 37.9m at 2.47% Li₂O from 152.9m.

The results come from the completed 2026 drilling campaign of 65 holes totalling 19,481m, with pegmatite intersected in every hole.

They also follow earlier extension drilling this year that more than doubled the known strike extent of the Spodumene Mountain pegmatite system from about 650m to 1.4km.

The enlarged system remains open along strike and at depth, with another 48 holes still awaiting assay results.

“These results from our 2026 drilling campaign mark an encouraging step forward at Spodumene Mountain, combining broad lithium-bearing intersections with higher-grade intervals across the areas tested,” said WhiteRock Chairman and CEO Simon Hay.

High grades across a growing lithium system

Spodumene Mountain is emerging as a key focus within WhiteRock’s 100%-owned Banana project, which covers about 67,000 hectares across the Nunavik and Eeyou Istchee James Bay regions of northern Québec.

The latest assays reinforce the high-grade potential established during the company’s inaugural drilling campaign in 2024, which returned results such as 79.3m at 2% Li₂O from surface.

The latest program was designed to test extensions of the known pegmatite system and evaluate mineralisation across a systematic 100m by 100m grid.

Success in the initial step-out holes prompted WhiteRock to expand the drilling grid across the enlarged strike length and approximately 500m down dip.

In the central zone, drilling has confirmed broad intervals of lithium-bearing pegmatite, including separate mineralised bodies at different depths.

To the northeast, all eight holes reported in the latest batch returned at least one interval grading approximately 2% Li₂O or higher.

Drilling to the southwest has also confirmed lithium mineralisation beyond the previously defined extent.

“Our initial drilling more than doubled the known pegmatite footprint, and these assays now provide valuable insight into the distribution of lithium mineralisation across the larger system,” Hay said.

The wider Banana project currently has a conceptual Exploration Target of 190-275Mt at 1.2-1.6% Li₂O, encompassing the Spodumene Mountain, Isabella and Marine prospects.

Spodumene Mountain accounts for a conceptual 70-100Mt of that range, with Isabella contributing 110-160Mt and Marine a further 10-15Mt.

WhiteRock’s immediate priority now turns to working towards a maiden resource estimate at Spodumene Mountain in the first half of next year, subject to the remaining assay results and technical assessment.

Experienced lithium hand at the helm

Hay previously served as CEO of Galaxy Resources from 2019 to 2021, overseeing record production performance at its Mt Cattlin spodumene operation in Western Australia and progress at the Sal de Vida lithium brine project in Argentina.

His tenure culminated in Galaxy’s roughly $5 billion merger with Orocobre in 2021, creating Allkem, which became one of the world’s leading lithium producers.

Hay subsequently took charge of Leo Lithium, overseeing the advancement of the Goulamina lithium project in Mali through its development and construction phases.

Leo Lithium later completed the sale of its remaining 40% interest in Goulamina to joint venture partner Ganfeng for US$342.7 million in November 2024.

Back at WhiteRock, core processing and sampling continue, with further laboratory results expected to be released in batches over the coming weeks.

“With drilling complete, our focus is on processing the remaining core and integrating validated assays into our geological model,” Hay said.

“We look forward to reporting further assay results as they become available, and subject to these results, we are targeting a maiden Mineral Resource Estimate for Spodumene Mountain in H1 2027.”

This article was developed in collaboration with WhiteRock Lithium, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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