Far East Capital Newsletter
Lithoquest Resources - a promising Canadian gold explorer
25 Jul 2021

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Lithoquest Resources - a promising Canadian gold explorer

Lithoquest Resources Inc (LDI.V) is led by Bruce Counts, a Canadian ex-BHP geologist who was instrumental in the discovery of the Ekati diamond deposit in Canada. Lithoquest's initial mission was to look for diamonds in Australia's Kimberley region of WA, in 2017. Despite discovering the first new field of kimberlites in the region in 25 years, drilling failed to recover actual diamonds (not an uncommon outcome in assessing kimberlites).

Having given diamonds its best shot, Lithoquest resolved to withdraw from Australia and go back to grass roots gold exploration in Ontario, Canada. Rather than go to the historically significant gold producing regions such as Red Lake, it is focusing on lesser explorered ground further to the north. These greenstone belts produced good results from exploration many decades ago, but there has been no modern follow through. Specifically, Lithoquest is focusing on the Uchi geological sub-province, seeing potential for large gold deposits. 

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