Mike Fagan,
Editor
May 13, 2025
Lion Rock Resources (TSX-V: ROAR) — currently trading around C$0.32 per share — has announced positive assays from a recently completed surface sampling program at its flagship, 100%-owned Volney gold-lithium project, confirming the presence of high-grade lithium-bearing pegmatites over a significantly expanded surface area.
The results further highlight the project’s potential as a dual gold-lithium exploration opportunity within the ultra-safe mining confines of Black Hills, South Dakota, USA.
Key Results from Volney Surface Sampling
- Outcrop sampling confirmed the presence of lithium-bearing LCT (lithium-cesium-tantalum) pegmatites across a 1,000-meter by 500-meter corridor; open in all directions.
- 26 outcrop samples exceeded 1.0% Li₂O with grades reaching up to 3.7% Li₂O from a previously unsampled pegmatite over 600 meters from the historically known Giant Volney Pegmatite.
- 43 samples from historic stockpiles also returned values above 1.0% Li₂O with the highest at 5.3% Li₂O. In particular, 26 samples from the Giant Volney pit area averaged 3.8% Li₂O.
- Tin (Sn) mineralization was also identified in stockpile samples with 13 samples returning values above 1.0% Sn, indicating potential for byproduct recovery.
- Several historical tin mine samples also returned lithium values, supporting the interpretation that multiple pegmatite units across the property are lithium-bearing.
Lion Rock Resources CEO Dale Ginn commented on the positive lithium results and forthcoming drill program at Volney via press release:
“These strong lithium results confirm the high-grade potential of the Volney Project. The combination of high-grade outcrop samples and historically mined material presents an exciting opportunity for continued exploration, both at surface and through drilling. With 142 hectares of private land, we're able to fast-track permitting and quickly advance toward drill testing. We're also highly encouraged by the multi-commodity potential of the system, which also includes high-grade gold and tin, and we look forward to expanding the known pegmatite extents through our upcoming exploration program.”
The Volney Project is situated ~20 km southwest of Spearfish in the Black Hills Mining District of South Dakota, a region with a strong history of precious and base metals production. Notably, the nearby Homestake Mine produced 43.9 million oz Au while Coeur Mining’s Wharf Mine yielded 93,000 oz Au in 2023.
Importantly, the Volney project sits on 142 hectares of privately held land with both surface and mineral rights secured. This private land status offers distinct advantages for permitting and exploration, enabling a streamlined process from early-stage activities through potential development.
Volney is a past-producing, multi-commodity project with historic results, including:
- Gold: 18.2 g/t Au over 18.3 meters (historical channel sampling)
- Lithium: 5.3% Li₂O (stockpile material), 3.7% Li₂O (outcrop)
- Tin: 2.5% Sn (stockpile and mill waste)
Geologically, Volney hosts a 635-meter-long lithium-rich spodumene pegmatite (the Giant Volney Pegmatite) and an extensive gold system with significant high-grade potential.
Next Steps: Maiden Drill Program
Lion Rock (“ROAR”) is making preparations for its first-ever drill program at Volney slated for Q2 2025. This will be the first modern drilling on the project and the first time Lion Rock or any past operator has tested the gold and lithium mineralization at depth.
The upcoming program will test:
- Depth extensions of historical high-grade gold zones, including the 18.2 g/t Au over 18.3 meters interval.
- Continuity and structure of the lithium-rich pegmatites, including targets identified in the recently completed surface sampling campaign.
It’s also vitally important to understand that all previous drilling at Volney was limited to shallow depths of less than 50 meters. Despite those limitations, historical efforts successfully intersected mineralized zones in all eight holes near the Rusty Mine Shaft.
The forthcoming drill program aims to go deeper and provide critical geological and geochemical data to assess the vertical continuity and potential scale of the mineralized systems at Volney.
Pending Assays and Outlook
Gold assay results from the same surface samples reported in this release are currently pending. The assays will be important in evaluating the full multi-commodity potential of the sampled zones, particularly in areas with coincident gold and lithium mineralization.
Lion Rock’s systematic approach — combining historical validation, new surface exploration, and its upcoming maiden drilling — will provide the first modern subsurface understanding of Volney’s gold-lithium system.
With permitting expected to progress quickly due to the private landholding status, ROAR is well-positioned to execute its exploration plan efficiently with the upcoming drill program serving as a key catalyst for gaining a deeper understanding of the Volney project's gold and lithium mineralization at depth.
In the meantime, and for additional information on Vancouver-based Lion Rock Resources, please contact the company’s IR department at 604-678-5308 or via email at info@lionrockresources.com.
Visit the Lion Rock corporate website and sign up to receive updates directly from the company here. View the most recent Corporate Presentation here.
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
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