Lithoquest Resources Inc

Financials:

Primary ticker: TSXV:LDI
Stage of development: Exploration
Primary minerals: Gold
Project to promote: Miminiska
Project location: Ontario, Canada
Website: www.lithoquest.com

Lithoquest Resources Inc. is exploring for gold on three district-scale projects in north western Ontario, Canada.
 
Lithoquest has an internationally recognized management and technical team that is supported by durational capital from best-in-class gold fund managers, private equity, and high-net-worth investors.
 
The Company’s flagship project, Miminiska, has extensive drill-confirmed, high-grade gold in banded iron formation. Lithoquest recently conducted its first drill program at Miminiska and is expecting assay results in Q2/2022. High-priority targets identified in recent ground geophysical survey results have the potential to extend and expand mineralization on the project. Drilling on the project is scheduled to resume in Q3/2022.


Cash:
CAD$2.5M
Debt: Nil


Major shareholders:

Rosseau Asset Management
Crescat Capital
Eric Sprott
Plethora Precious Metals Fund
US Global
Management ownership – 9%

Management Profile

Bruce Counts –  President and Chief Executive Officer
Mr. Bruce Counts has over 30 years experience in international mineral exploration and more than 20 as a director and senior officer of publicly traded companies. He was directly involved in the discovery of the Ekati Diamond Mine as well as the sale of the minority partner, Dia Met Minerals, to the majority owner and operator, BHP. Bruce holds a Bachelor of Applied Science in Geological Engineering from the University of British Columbia and is a registered Professional Geoscientist.

What is your rationale for taking part 121 Mining Investment?

Lithoquest seeks to create corporate awareness amongst investors with an interest in companies exploring early stage precious and base metals projects. The company is expecting assay results by the end of Q2 from a recently completed drill program and anticipates a return to drilling in Q3.

What recent news would you like to highlight to investors attending?

March 2022 – Lithoquest closes oversubscribed financing
April 2022 – Lithoquest Conducts Field Program at Miminiska

What are your key goals in 3 months, 6 months, 12 months?

3 Months:

Demonstrate high-quality assay results from recent drill program at Miminiska
Complete airborne EM surveys over three key projects: Miminiska, Keezhik and Attwood

 

6 Months:

Resume drilling at Miminiska
Follow-up targets identified in airborne EM survey with sampling and prospecting

 

12 Months:

Continued drilling at Miminiska
Exploration/Discovery drilling at Keezhik and Attwood

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

1- Geologic risk: We have a highly qualified technical team with a sophisticated and systematic approach to exploration.
2- Funding risk: Lithoquest has attracted a best-in-class investors that understand the risks and provide durational capital
3- First Nations risk: Lithoquest is actively working with the First Nations on Exploration Agreements that bring certainty and transparency to all parties involved

What do you think makes your company such a compelling investment?

Lithoquest has a remarkably low market cap given its compelling projects, experienced management and notable shareholders

What are the top 3 key investor takeaways?

Assets: Projects with extensive drill confirmed high-grade gold and multi-million ounce potential located in a stable jurisdiction
People: Internationally recognized management and technical team backed by sophisticated and supportive shareholders
Near-Term Value Catalyst: Drill assays pending with additional drilling commencing in Q3