Lion Rock Resources (TSXV: ROAR, OTCQB: LRRIF, FSE: KGB) is advancing lithium exploration at the Volney Project in the Black Hills of South Dakota, one of the most prolific historic lithium pegmatite districts in the United States.
Phase 1 drilling at the Giant Volney target has returned multiple lithium intercepts from surface along a strike stretching 300 m long, up to 100 m wide, and 150 m deep. Highlight intercepts include 0.8% Li2O over 25.4 m (including 1.3% Li2O over 14.3 m) in VOL25-004, 1.5% Li2O over 10.3 m (including 2.2% Li2O over 1.3 m) in VOL25-005, and 1.6% Li2O over 10.6 m (including 2.3% Li2O over 5.7 m) in VOL25-007. [4] The strike remains open in all directions.
These successful results were obtained from the first of multiple, high priority Lithium-Cesium-Tantalum (LCT) pegmatite targets at Volney. Multiple pegmatite clusters are located across the 142 ha property.
Approximately 3,600 m of diamond drilling across 15 drillholes was completed along the Volney trend in the Phase 1 program, with assays from 11 additional drillholes pending, including further lithium and gold analyses. [4] Planning for a much larger, phase 2 drill program is underway. Phase 2 drilling will test numerous step out and regional targets.
Past Producer in a Historic US Lithium District
The Volney Project sits within the Black Hills pegmatite province, where approximately 200,000 tonnes of lithium were produced during the 1940s and 1950s from spodumene-bearing pegmatites clustered around the Harney Peak Granite. [1] Peak annual production reached 8,600 short tons of spodumene concentrate in 1951. [2] Between 1941 and 1944, Fansteel Mining Corp. operated the Giant Volney pegmatite under lease from Black Hills Tin Co. and produced 1,080 tonnes of spodumene concentrate grading 5.6% to 6.3% Li2O, along with 400 tonnes of amblygonite concentrate at 8.3% Li2O. [3]
Superb Infrastructure on Private Land
Volney consists of 142 hectares of private claims with both surface and mineral rights. The project has on-site power, all-season road access, and is within one hour of the US rail network.
Accelerated, Low-Cost Production Potential
Private land ownership in a mining-friendly jurisdiction means reduced permitting timelines relative to federal ground. Shallow mineralization at Volney indicates potential for low CAPEX and low OPEX bulk mining methods. Lion Rock acquired the property in October 2024, completed geophysics and surface sampling in early 2025, and finished a 15-hole Phase 1 drill program by early 2026.
Award-Winning Management and Technical Team
The Lion Rock team includes award-winning experts across the mining lifecycle and has established working relationships with local and state government officials in South Dakota’s Black Hills mining district.
Learn more about the Volney Project
Phase 1 drilling at the Giant Volney target returned multiple lithium-bearing pegmatite intersections from surface across three drillholes, with high-grade sub-intervals in each hole. [4] Initial assays also returned tin and tantalum mineralization within muscovite-rich pegmatite in the same drillholes, consistent with a fractionated and evolved LCT pegmatite system, the pegmatite type that hosts the majority of the world’s hard-rock lithium production.
| Drillhole | Li2O (%) | Length | Notes |
| VOL25-004 | 0.8 | 25.4 m | Broad lithium interval; incl. 1.3% Li2O over 14.3 m and 72 ppm Ta over 5.7 m |
| VOL25-005 | 1.5 | 10.3 m | Incl. 2.2% Li2O over 1.3 m and 120 ppm Ta over 3.0 m; hole ended in pegmatite after intersecting historic underground workings |
| VOL25-007 | 1.6 | 10.6 m | Incl. 2.3% Li2O over 5.7 m; adjacent tin-tantalum interval of 0.1% Sn and 53 ppm Ta over 6.2 m |
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All four drillholes reported in the first batch of Phase 1 results were collared directly into the pegmatite body, meaning reported intervals represent partial intersections only. The full interpreted width of the pegmatite extends west of the drill collars based on surface mapping and sampling. [4]
Additional pegmatite units were intersected more than 250 metres north of the Giant Volney area, including near the Rough & Ready target. These pegmatites are mineralogically consistent with those observed in the initial drillholes. Multiple additional pegmatite outcrops exhibiting lithium values have been identified on surface across the property and remain untested by drilling. Assay results for these holes and the remaining 11 drillholes in the Phase 1 program are pending, including additional lithium and gold analyses. [4]
Volney is a brownfield project with documented lithium production at commercial grades. Between 1941 and 1944, Fansteel Mining Corp. produced 1,080 tonnes of spodumene concentrate (5.6% to 6.3% Li2O) and 400 tonnes of amblygonite concentrate at 8.3% Li2O from the Giant Volney pegmatite. [3] Amblygonite is a phosphate mineral that was historically one of the highest-grade lithium ores mined in the United States.
No modern exploration was conducted at Volney until Lion Rock’s acquisition in October 2024. The 2025 to 2026 Phase 1 program is the first drilling to test the pegmatite system with contemporary analytical methods. The 635 metre long Giant Volney pegmatite has been confirmed as an LCT system with lithium mineralization at surface and remains untested at depth. [4]
The Black Hills of South Dakota is one of the largest pegmatite provinces in the United States, with more than 24,000 mapped pegmatite bodies clustered around the Harney Peak Granite intrusion. [5] The district produced lithium, tin, tantalum, beryllium, and mica from the 1880s through the 1950s, with peak activity during World War II when federal demand for strategic minerals drove production across multiple operations.
Historic Producers in the Black Hills Lithium District
The Etta Mine, located near Keystone approximately 40 kilometres southeast of Volney, is one of the most famous spodumene mines in the world. It produced lithium from 1898 to 1959 and during the 1920s was the principal lithium producer in the United States. [6] The Etta Mine is the original source of the largest spodumene crystals ever recorded, with individual crystals documented up to 42 feet in length and 90 tons in weight. [7] Lithium hydride produced from Etta spodumene was used during World War II in military applications including inflation of antenna-carrying balloons for downed pilots. [5]
Other historic lithium producers in the Black Hills pegmatite district include the Tin Mountain Mine (spodumene crystals up to 30 feet), Beecher Lode (crystals up to 20 feet, lithium and beryllium), Bob Ingersoll Mine (lithium, beryllium, tantalum), Peerless Mine (first US occurrence of wodginite, a tantalum mineral), Hugo Mine, and Helen Beryl Mine. [5] The Volney Project is part of this same pegmatite province and shares the same source granite.
Current Exploration Activity in the Black Hills
Several companies are currently active in the Black Hills lithium district, including Iris Metals (ASX: IR1), Midwest Lithium (ASX: MWL), Patriot Lithium (ASX: PAT), and United Lithium Corp. (CSE: ULTH). These companies hold ground around the Harney Peak Granite, reflecting renewed exploration interest in historic US pegmatite districts following federal critical minerals policy shifts and the USGS inclusion of lithium on the 2025 Critical Minerals List.
Analogous US Pegmatite-Hosted Lithium Districts
The Carolina Tin-Spodumene Belt in North Carolina is the other major US district where lithium has been produced historically from pegmatite-hosted spodumene, with active development by Piedmont Lithium and Albemarle (Kings Mountain). Pegmatite-hosted spodumene is the preferred source of high-purity lithium for battery-grade applications, producing fewer contaminants than brine-sourced lithium. [1]
The Volney Project consists of 142 hectares of private claims with surface and mineral rights held outright. For any US critical mineral project, this ownership structure is a material advantage. Exploration and development on federal land in the United States faces multi-year environmental review and public comment periods that can delay drilling for years before a single hole is completed.
Private land ownership allows for faster drill permitting, shorter gaps between exploration phases, and more direct operational control. Lion Rock moved from acquisition to comprehensive ground sampling, mapping, geophysical surveys, and completion of a 15-hole drill program in just over twelve months. That speed of execution is difficult to replicate on federal ground.
South Dakota’s Black Hills is a proven mining district with active producers including Coeur Mining’s Wharf Mine, Dakota Gold Corp., and Agnico Eagle. The state is consistently ranked among the most mining-friendly jurisdictions globally.
Lithium was included in the 2022 and 2025 US Critical Minerals Lists because of the country’s import dependence and lithium’s foundational role in battery manufacturing for electric vehicles, grid-scale energy storage, and defense applications. [8] [9]
From 2020 to 2023, the United States imported approximately 50% of its lithium from Chile and 47% from Argentina, with 3% from other sources. [1] Domestic lithium production is currently limited to a single brine operation in Nevada. There is no active US mine producing lithium from hard-rock spodumene pegmatite, the source of the majority of global battery-grade lithium.
The US government has directed significant policy support toward domestic lithium supply chains. The Department of Energy announced USD 3 billion in funding across 25 projects through the Bipartisan Infrastructure Law to support domestic lithium extraction, processing, and battery manufacturing. [1] In 2026, the administration announced “Project Vault,” a strategic stockpile initiative focused on lithium, rare earths, nickel, and related critical minerals. [10] The CHIPS and Science Act and EXIM Bank Project Vault have added further policy support to US-based critical mineral production.
World lithium production increased by 31% in 2025, and consumption rose by 20%. [10] Despite short-term price weakness that caused multiple lithium projects to be postponed or cancelled in 2024, long-term structural demand remains anchored to the global energy transition. The International Energy Agency projects lithium demand to grow significantly through 2040, driven by electric vehicle production and stationary energy storage. [11]
Supply concentration remains a core policy concern. Chile and Argentina together supply approximately 97% of US lithium imports. [1] China dominates midstream lithium chemical processing, controlling an estimated 60% to 70% of global lithium refining capacity. This concentration, combined with rising demand from battery manufacturing and data center infrastructure, has focused federal attention on building domestic US lithium supply from the mine stage upward.
Pegmatite-hosted spodumene deposits are the preferred source of high-purity lithium because spodumene yields fewer impurities than brine-derived lithium during chemical processing. [1] The Black Hills pegmatite district, including Volney, falls within this category.
A 15-hole Phase 1 drill program has been completed at Volney, representing the first modern drill testing along the Volney trend. Final assay results from 11 drillholes are pending, including additional lithium from multiple target areas. The Company is in the process of planning the Phase 2 exploration program.
Yes. Phase 1 drilling at the Giant Volney target returned multiple lithium intercepts in pegmatite, including 0.8% Li2O over 25.4 m (VOL25-004), 1.5% Li2O over 10.3 m (VOL25-005), and 1.6% Li2O over 10.6 m (VOL25-007), with high-grade sub-intervals up to 2.3% Li2O over 5.7 m. [4] The property also has a documented lithium production history: between 1941 and 1944, Fansteel Mining Corp. produced 1,080 tonnes of spodumene concentrate (5.6% to 6.3% Li2O) and 400 tonnes of amblygonite concentrate at 8.3% Li2O from the Giant Volney pegmatite. [3]
Lithium is a foundational input to lithium-ion batteries used in electric vehicles, portable electronics, and grid-scale energy storage. Lithium compounds are also used in specialty glass and ceramics, industrial lubricants, and pharmaceutical applications. The battery segment accounts for the majority of global lithium demand. [1]
Domestic US lithium production is currently limited to a single brine operation in Nevada. There is no active US mine producing lithium from hard-rock spodumene pegmatite, although several projects are in advanced development, including Piedmont Lithium and Albemarle’s Kings Mountain in the Carolina Tin-Spodumene Belt. [1]
The Black Hills is a historic US lithium pegmatite district with more than 24,000 mapped pegmatite bodies. Historic producers include the Etta Mine, Tin Mountain Mine, Beecher Lode, Bob Ingersoll Mine, Peerless Mine, Hugo Mine, and Helen Beryl Mine. [5] Current companies exploring in the Black Hills include Iris Metals, Midwest Lithium, Patriot Lithium, and United Lithium Corp.
Spodumene-derived lithium produces fewer impurities than lithium extracted from continental brines, making it the preferred source for high-purity battery applications. Most of the world’s current hard-rock lithium production comes from pegmatite-hosted spodumene deposits in Australia, followed by smaller operations in Canada, Brazil, and Zimbabwe. [1]
In addition to lithium, the Volney Project hosts confirmed tin and tantalum mineralization, along with multiple additional US Critical Minerals identified through Phase 1 analytical work. A new gold discovery was also announced on April 8, 2026. Learn more about tin at Volney and tantalum at Volney.
Phase 1 results were published in a news release dated February 26, 2026, available on the Lion Rock Resources website and filed on SEDAR+.
Certain statements on this page constitute forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding planned exploration programs, the potential characteristics of the Volney Project’s mineralization, and anticipated timelines. Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. These risks include, but are not limited to, changes in commodity prices, exploration results that differ from expectations, permitting and regulatory delays, and general market conditions. The Company does not undertake to update forward-looking statements except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements.
This page contains factual information about the Volney Project and the lithium market. It does not constitute investment advice, a recommendation to purchase securities, or an offer of securities for sale. All technical data is sourced from Company news releases and publicly available third-party sources. Historic production figures are derived from published geological reports and government surveys and do not constitute current mineral resources or reserves. References to other companies are factual and do not imply any endorsement, partnership, or equivalence with the Volney Project.
[1] U.S. Geological Survey, Mineral Commodity Summaries: Lithium, January 2025. https://pubs.usgs.gov/periodicals/mcs2025/mcs2025-lithium.pdf?v=050212
[2] Dakota Matrix Minerals, “Pegmatites of the Black Hills, South Dakota.” https://www.dakotamatrix.com/content/pegmatites-of-the-black-hills
[3] Page, L.R. et al. (1953), “Pegmatite Investigations 1942-45, Black Hills, South Dakota.” USGS Professional Paper 247.
[4] Lion Rock Resources Inc. (2026), “Lion Rock’s First Results From Maiden Drill Program Reveals Discovery of Multiple Critical Mineral Intercepts Within the Volney Pegmatite,” news release dated February 26, 2026. https://www.lionrockresources.com/news/lion-rocks-first-results-from-maiden-drill-program-reveals-discovery-of-multiple-critical-mineral-intercepts-within-the-volney-pegmatite
[5] Roberts, W.L. and Rapp, G. Jr. (1965), “Mineralogy of the Black Hills.” South Dakota School of Mines and Technology Bulletin 18.
[6] Mindat, “Etta Mine, Keystone, Keystone Mining District, Pennington County, South Dakota, USA.” https://www.mindat.org/loc-4106.html
[7] Hess, F.L. (1916), “Tin, Tungsten, and Tantalum Deposits of South Dakota.” USGS Bulletin 610.
[8] Federal Register (2025), “Final 2025 List of Critical Minerals.” https://www.federalregister.gov/documents/2025/11/07/2025-19813/final-2025-list-of-critical-minerals
[9] U.S. Geological Survey, 2022 Final List of Critical Minerals. https://www.usgs.gov/news/national-news-release/us-geological-survey-releases-2022-list-critical-minerals
[10] U.S. Geological Survey (2026), “Value of U.S. mineral production rose last year, driven by precious metals prices.” https://www.usgs.gov/news/national-news-release/value-us-mineral-production-rose-last-year-driven-precious-metals-prices
[11] International Energy Agency (2021), “The Role of Critical Minerals in Clean Energy Transitions.” https://www.iea.org/reports/the-role-of-critical-minerals-in-clean-energy-transitions
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Lion Rock Resources Inc.
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