Winsome Resources (ASX: $WR1) Q1 2024 Activities Report

Winsome Resources Limited (ASX: $WR1) is pleased to report its activities for the quarter ending 31 March 2024. The company completed over 22,000 meters of drilling, discovering a new zone of mineralization at Adina south west with an outstanding intersection of 61.5m at 1.62% Li20. The strike length of mineralization defined by systematic drilling increased to 2,110m. Winsome also entered into an Option Agreement to acquire the Renard Project infrastructure and partnered with Eskan Company to apply for funding through the C$1.5 billion Critical Minerals Infrastructure Fund. The company remains well funded to undertake current drilling plans and study work in 2024.

Executive Commentary on Q1 2024 Activities

During the quarter, Winsome Resources focused on advancing its exploration and development activities at the Adina lithium project. The company is pleased to have discovered a new high-grade lithium zone, extending the main zone to a 2,110m strike length. The results from infill drilling have been particularly encouraging, with thick, high-grade intersections close to the surface. These positive results are expected to inform the updated Mineral Resource Estimate (MRE) for Adina, which is anticipated to result in an increase in the classification of the MRE as well as growth of the MRE itself. Additionally, the company has made significant progress in its corporate activities, including entering into an exclusive option to acquire the Renard Mine and associated infrastructure, which could potentially reduce upfront capital expenditure and environmental footprint at Adina.

Summary of Q1 2024 Activities and Outlook

Winsome Resources' Q1 2024 activities have been marked by significant achievements in exploration, particularly the discovery of a new high-grade pegmatite at the Adina lithium project and the extension of the main zone to a 2,110m strike length. The company's focus on advancing development studies and engaging with local stakeholders demonstrates its commitment to responsible and collaborative operations. The ongoing engagement with Eeyou Istchee James Bay Cree and other local stakeholders reflects Winsome's dedication to environmental, social, and governance (ESG) principles. The company's decision to be an early adopter of the Australian Sustainability Reporting Standards (ASRS) further underscores its commitment to sustainability. Looking ahead, Winsome's ambitions to update the Mineral Resource Estimate for Adina, publish results from flotation test work, and advance mining studies and environmental baseline studies indicate a promising outlook for the company's corporate strategy and the Adina lithium project.