Founded in 2003, Tucana Lithium Corp. is a mineral exploration company. They engage in the exploration of lithium properties in Canada. The Company formerly went by the name Oteegee Innovations Inc. They changed their name to Tucana Lithium Corp. in May 2011. Tucana Lithium Corp. has their headquarters in Las Vegas, Nevada.
The Company has acquired a 100 percent interest in the Abigail property (Lithium). This property is located in the James Bay region of the Province of Quebec, Canada. More specifically, it is located in the Nemaska area. The property consists of 222 map-designated cells totaling 11,844 ha or 118.5 squared km. This Abigail property is attached to the world-class Whabouchi Lithium deposit held by Nemaska Exploration (NMX.V).
Nemaska recently announced an updated resource estimate on the Whabouchi deposit to 25 million tonnes in measured and indicated categories. It now has the potential of 25 years of resources to mine. Whabouchi’s revised estimate puts Whabouchi as the largest measured resource of spodumene in the world, according to Guy Bourassa, President and CEO of Nemaska Exploration.
Tucana Lithium Corp. is focusing on the acquisition and development of mining properties throughout North America. With their Abigail property acquisition, their key goal is to develop a world-class lithium project that will capitalize on the fast-growing demand for lithium batteries primarily used for electric and hybrid vehicles.
The Company’s plans include a $2.5 million exploration and development program focused on completing an economic pre-feasibility study on the Abigail property. This is to advance the project to the feasibility stage.
On June 14, 2011, Tucana Lithium Corp. announced that the Company entered into a geological and management services agreement with Nemaska Exploration Inc. This is to coordinate and execute the Company’s Spring/Summer 2011 exploration program. The exploration campaign will be lead by geologist Yves Caron. Mr. Caron is currently Vice-President Exploration for both Nemaska Exploration and Monarques Resources.
Jordan Starkman, CEO of Tucana Lithium Corp., stated, “We are very excited and fortunate to have a strong relationship with the team responsible for the Whabouchi lithium discovery, and we are looking forward to starting our exploration campaign.”