| To: LoneClone who wrote (20157) | 9/26/2022 2:55:53 PM | | From: LoneClone | | | | Lithium Ionic Intersects 1.71% Li2O over 22m and 1.53% Li2O over 46m, incl. 2.22% Li2O over 12.5m on its recently acquired Galvani Claims, Brazil
ca.finance.yahoo.com
Lithium Ionic Corp.
Mon, September 26, 2022 at 4:00 a.m.·5 min read
Figure 1
Itinga Project (Areas 1-5) and Galvani Claims location and geology map. Note the surface expression of the CBL lithium mine in the northeast corner of Project Area 1 and Sigma Lithium’s Barreiro deposit to the southeast.
Figure 2
Galvani Pegmatite and Drill Hole Locations
TORONTO, Sept. 26, 2022 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV: LTH; OTCQB: LTHCF) (“Lithium Ionic” or the “Company”) reports additional positive drilling results from the Galvani claims, which the Company recently acquired (see Sept. 12, 2022, press release) following a due diligence review. The Galvani claims, as well as its neighbouring 100%-owned Itinga Lithium Project (Areas 1-5) are located in the state of Minas Gerais, Brazil, in the same district as the lithium producing CBL mine and Sigma Lithium’s Barreiro deposit (20.4Mt grading 1.4% Li2O) (see Figure 1, location map).
New Galvani Drill Intercept Highlights (See Figure 2 and Table 1)
1.71% Li2O over 21.91m (Hole ARDD-22-025)
1.53% Li2O over 46.21m, incl. 2.22% Li2O over 12.49m
and 1.14% Li2O over 12.88m, incl. 1.66% Li2O over 5.43m (Hole ARDD-22-021)
1.30% Li2O over 19.19m, incl. 1.83% Li2O over 4.44m (Hole ARDD-22-022)
Previously Reported Drill Intercept Highlights from Galvani Claims
1.94% Li2O over 19.78m, incl. 2.33% Li2O over 7.35m
1.68% Li2O over 20.7m, incl. 2.22% Li2O over 8.63m
1.57% Li2O over 24.93m, incl. 2.10% Li2O over 7.45m
1.30% Li2O over 38.5m
1.77% Li2O over 10.85m
1.27% Li2O over 10.77m, incl. 1.70% Li2O over 3.53m
1.17% Li2O over 42.05m, incl. 1.95% Li2O over 11.72m
Blake Hylands, Chief Executive Officer of Lithium Ionic, commented, “We have now shown the continuation of high-grade mineralization at surface for over eight hundred metres at Outro Lado (the Galvani claim showing). While we are extremely excited about the scale so far, we believe this is only the beginning in this area. As the team better understands the structure and geometry of this zone, our expectation is to both outline a significant resource and continue to make new discoveries. We are confident the work at the Galvani claims, as well as our other properties, will quickly fit Lithium Ionic into the global lithium supply chain that is desperately searching for the high grade, battery-quality material that is unique to this prolific mining district.”
Subsequent to the completed acquisition of the Galvani claims announced on September 12, 2022, the Company has expanded upon the drill program it initiated in June 2022 with five drills currently operating on its properties. As part of its due diligence review, Lithium Ionic successfully confirmed historic drilling results and also identified new zones of mineralization beyond the ~0.7km strike pegmatite with strong lithium values over significant widths.
The Galvani property is located less than 4 kilometres from Sigma Lithium’s Xuxa deposit (over 17Mt grading 1.55% Li2O M+I). The high grade and large widths of the intercepts to date demonstrate excellent potential to outline a significant resource very quickly. Mineralization is hosted in spodumene bearing pegmatites sourced from the same granitic intrusive, which characterizes Lithium Ionic’s Project Area 1, CBL’s lithium mining operation, and Sigma Lithium’s resources (Figure 1).
A photo accompanying this announcement is available at globenewswire.com
A photo accompanying this announcement is available at globenewswire.com
Table 1. Galvani Drill Results
| From
| To
| Metres
| Li2O (%)
| Nb (ppm)
| Sn (ppm)
| Ta (ppm)
| ARDD-22-015
| nsv
| and
| 45.53
| 46.58
| 1.05
| 0.65
| 152.00
| 343.00
| 73.00
| ARDD-22-016
|
| 30.18
| 38.18
| 8.00
| 1.29
| 274.00
| 102.00
| 269.00
| and
| 45.53
| 46.58
| 1.05
| 0.65
| 152.00
| 343.00
| 73.00
| ARDD-22-017
| nsv
| ARDD-22-018
| nsv
| ARDD-22-021
|
| 16.31
| 29.19
| 12.88
| 1.14
| 223.00
| 42.00
| 113.00
| incl.
| 23.76
| 29.19
| 5.43
| 1.66
| 254.00
| 52.00
| 133.00
| and
| 35.50
| 81.71
| 46.21
| 1.53
| 163.00
| 99.00
| 105.00
| incl.
| 69.22
| 81.71
| 12.49
| 2.22
| 201.00
| 80.00
| 94.00
| ARDD-22-022
|
| 12.68
| 31.87
| 19.19
| 1.30
| 183.00
| 43.00
| 148.00
| incl.
| 26.66
| 31.10
| 4.44
| 1.83
| 200.00
| 29.00
| 217.00
| ARDD-22-023
|
| 30.52
| 33.50
| 2.98
| 1.11
| 142.00
| 100.00
| 109.00
| ARDD-22-025
|
| 37.00
| 58.91
| 21.91
| 1.71
| 179.00
| 73.00
| 173.00
|
About Lithium Ionic Corp.
Lithium Ionic is a Canadian-based lithium-focused mining company with properties covering ~2,000 hectares located in the prolific Aracuai lithium province in Minas Gerais State, Brazil, which boasts excellent infrastructure, including highways, access to hydroelectrical grid power, water, and nearby commercial ports. Its Itinga and Galvani claims are located in the same district as the lithium-producing CBL mine and development-stage Sigma Lithium Corp.’s (TSXV: SGML; NASDAQ: SGML) large Barreiro and Xuxa lithium deposits.
Quality Assurance and Control
During the drill program, assay samples were taken from NQ core and sawed in half. One-half was sent for assaying at SGS Laboratory, a certified commercial laboratory, and the other half was retained for results, cross checks, and future reference. A strict QA/QC program was applied to all samples. Every sample was processed with Drying, crushing from 75% to 3 mm, homogenization, quartering in Jones, spraying 250 to 300 g of sample in steel mill 95% to 150. SGS laboratory carried out multi-element analysis for ICP90A analysis.
Qualified Persons
The technical information in this news release has been prepared by Carlos Costa, Vice President Exploration of Lithium Ionic and Blake Hylands, CEO and director of Lithium Ionic, and both are “qualified persons” as defined in NI 43-101.
For more information please contact:
Lithium Ionic Corp.
Blake Hylands, P.Geo.
Chief Executive Officer
Email: bhylands@lithiumionic.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the prospectivity of the Itinga Project and the Galvani claims, the mineralization and development of the Itinga Project, Galvani claims and other mining projects and prospects thereof. Such statements and information reflect the current view of the Company. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release. |
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| To: LoneClone who wrote (20158) | 9/26/2022 3:09:55 PM | | From: LoneClone | | | | Idaho Champion Goes Full Battery by Acquiring Prospective Lithium Projects in James Bay Region; Quebec Precious Metals to Become Significant Shareholder
newsfilecorp.com
Toronto, Ontario--(Newsfile Corp. - September 19, 2022) - Idaho Champion (CSE: ITKO) (OTCQB: GLDRF) (FSE: 1QB1) ("Idaho Champion" or the "Company") is pleased to announce that it has entered into a binding memorandum of understanding (the "Agreement") with Quebec Precious Metals Corporation ("QPM") to acquire a 100% interest in two prospective lithium pegmatite projects (the "Projects") in the Eeyou Istchee James Bay territory of Quebec.
The Projects (covering approximately 162 km2) include historic findings of pegmatite (see Figure 1) and sit to the north of the Patriot Battery Metals' ("Patriot") Corvette project ( recently intersected intervals included 1.25% Li2O and 118 ppm Ta2O5 over 96m (CV22-035); see Patriot's news release dated July 28, 2022) and also located in close proximity to infrastructure in a developing potential lithium pegmatite district that has shown high prospectivity for lithium mineral resources.* The Projects are at an early stage of exploration, and the Company cautions that the qualified persons who have reviewed and approved this news release have not verified scientific or technical information produced by third parties, and proximity to projects containing lithium resources offers no assurance that the rock types or lithium resources reported by Patriot and others extend onto the Projects and such proximity is not necessarily indicative of the mineralization reported by third parties with projects in the district.
Together with its existing Cobalt assets located in Idaho, this pending acquisition pivots Idaho Champion's strategy to focus on making a meaningful impact in the North American battery metals sector.
"Battery makers worldwide face significant challenges in order to meet the extraordinary demand and technological advances ahead of the 2035 EV mandates. Combined with the geopolitical climate, we are presented with an excellent opportunity to aggressively uncover materials important to meet these demands," stated Jonathan Buick, President and CEO. "The Blanche and Charles projects place the Company right in the mix within a fast-growing lithium pegmatite district. The projects were originally explored for precious and base metals, but more recently, evidence of pegmatites has led to a re-assessment of the lithium discovery potential that warrants more work. Additionally, we would like to welcome QPM as cornerstone shareholders with approximately 7.4% of our outstanding shares post-transaction. We look forward to exploring these assets together."
*James Bay Lithium - (Indicated Mineral Resource: 40.33 million tonnes grading 1.4% Li2O), owned by Allkem Limited (NI 43-101 Technical Report, Feasibility Study, James Bay Lithium Project Québec, Canada, by G Mining Services, January 11, 2022); Rose - (Probable reserves: 26.3 million tonnes grading 0.87% Li2O and 138 ppm Ta2O5), owned by Critical Elements Lithium Corporation (Rose Lithium-Tantalum Project Feasibility Study NI 43-101 Technical Report, by Simon Boudreau, P.Eng., May 27, 2022); Whabouchi - (Measured and Indicated "in Pit" Mineral Resource: 37.356 million tonnes grading 1.48% Li2O), owned by Livent Corporation and Investissment Québec. (NI 43-101 Technical Report on the Whabouchi Lithium Mine and Shawnigan Electrochemical Plant, by Met-Chem et al, November 7, 2018).
QPM's Chief Executive Officer, Normand Champigny commented: "The Projects are clearly underexplored for lithium. In light of the recent discoveries in the area, we welcome the opportunity to become a significant shareholder of Idaho Champion while working with them to become successful explorers in the James Bay region. This transaction is consistent with our strategy to monetize non-core assets."
Figure 1: Blanche and Charles Location Map
To view an enhanced version of Figure 1, please visit:
images.newsfilecorp.com
Figure 1 Exploration Results Source: Patriot Battery Metals Drilling: https://patriotbatterymetals.com/portfolio/corvette/
Blanche
Blanche is comprised of 256 claims totaling approximately 130 km2. The project lies within a volcano-sedimentary belt striking ENE. The Blanche project is mainly composed of a broad east-northeast trending mafic band, interpreted as an metamorphosed basalt hosted within tonalitic rocks and interbedded with narrow sections of magnesian basalt and komatiites, iron formations (silicate and/or oxidized facies) and metasedimentary rocks.
Three units of felsic intrusive rocks were observed at Blanche: hornblende tonalite, granite and pegmatite dykes. Tonalite consists of feldspar, quartz and biotite intrusive rocks. In the northwestern part of the project, the rocks are relatively homogenous and medium grained, containing 20 to 30% hornblende, with locally weak foliation. The granite is comprised of medium to coarse grained feldspar, plagioclase, quartz and biotite. It is massive, homogeneous, and mostly non-magnetic. A few pegmatite dykes have also been identified on the project. So far, they are typically less than two-meters wide and cut the felsic units, but they are also found parallel to the schistosity in the mafic rocks. Pegmatites have almost the same composition as the granites but show a texture ranging from coarse to pegmatitic with the presence of 5 to 7% muscovite.
The project is bordered to the south and north by felsic intrusive rocks, which have been described as hornblende-biotite tonalite, and tonalitic gneiss, tonalite, granodiorite and quartz monzogranite in the north. The metamorphic grade ranges from upper greenschist facies to middle amphibolite facies.
Charles
The Charles project is comprised of 61 claims covering approximately 31 km2. Less is known about this project, but the area exhibits variable topography, ranging from slightly to very hilly. Several hills associated with felsic intrusives and iron formations are present and have been shaped by glaciers that had an ENE-WSW direction. A number of outcrops are exposed. Within the northern and central parts of this project, there is a thick glacial sediments containing boulders of granite and pegmatite.
Terms of the Agreement
As per the terms of the binding Agreement, Idaho Champion is purchasing 100% of the Projects from QPM in return for $100,000 in cash and 12,000,000 common shares of the Company, of which 50% will be subject to escrow for 18 months. QPM will also retain a 2% net smelter return royalty ("NSR") on claims retained by Idaho Champion upon completion of the acquisition. The Company has the option to repurchase 1% of the NSR from QPM for $1 million. Closing of the acquisition is subject to usual conditions for this type of transaction including a 45-day due diligence period, and regulatory and stock exchange approval.
Furthermore, the Company announces a private placement with the Agreement. Idaho Champion will issue up to 20,000,000 shares at a price of $0.05 per share for gross proceeds of $1,000,000. Proceeds of the private placement will be used for the acquisition payment and related transaction costs, preliminary field work on the Projects and for general working capital purposes.
Qualified Persons
Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702) and director of the Company, is a qualified person as defined by National Instrument 43-101. Mr. Highsmith has helped prepare, reviewed, and approved the technical information in this news release.
Normand Champigny, Eng., Chief Executive Officer of QPM, and Qualified Person under NI 43-101 on standards of disclosure for mineral projects, has reviewed the content of this press release.
About Idaho Champion Gold Mines Inc.
Idaho Champion is a discovery-focused exploration company that is committed to advancing its highly prospective mineral properties located in Idaho, United States and shortly, Quebec, Canada. The Company's shares trade on the CSE under the trading symbol "ITKO", on the OTCQB under the trading symbol "GLDRF", and on the Frankfurt Stock Exchange under the symbol "1QB1". Idaho Champion is vested in Idaho with four cobalt properties in Lemhi County in the Idaho Cobalt Belt. In addition, the Company has been advancing the Baner gold project in Idaho County, the Champagne polymetalic project located in Butte County near Arco. Idaho Champion strives to be a responsible environmental steward, stakeholder and contributing citizen to the local communities where it operates. Idaho Champion takes its social license seriously, employing local community members and service providers at its operations whenever possible.
About Quebec Precious Metals Corporation
QPM is a gold explorer with a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation's Éléonore gold mine. QPM's flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM's goal is to rapidly explore the Sakami project and advance to the mineral resource estimate stage.
ON BEHALF OF THE BOARD OF IDAHO CHAMPION
"Jonathan Buick"
Jonathan Buick, President and CEO
For further information, please visit the Company's SEDAR profile at www.sedar.com or the Company's corporate website at www.idahochamp.com.
For further information, please contact:
Nicholas Konkin, Marketing and Communications, Idaho Champion
Phone: (416) 567- 9087
Email: nkonkin@idahochamp.com
Normand Champigny
Chief Executive Officer, Quebec Precious Metals Corporation
Tel.: 514 979-4746
nchampigny@qpmcorp.ca
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.
Cautionary Statements for Idaho Champion
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release. This press release may include forward-looking information concerning the business of the Company within the meaning of Canadian securities legislation, including with respect to the completion of the transactions contemplated by the Agreement, the prospectivity of the Projects for lithium, the ability of the Company to successfully shift focus to exploration for battery-related metals, and with respect to the completion of a private placement of the size and at the price contemplated. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including being able to satisfy any conditions related to the acquisition, sufficient investor interest to complete the private placement financing necessary to fund the cash portion of the acquisition of the Project, having the necessary technical expertise to explore for lithium in pegmatite, and that reported lithium resources in the district of the Projects is indicative of mineralized pegmatite prospectivity on the Projects. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information and the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Forward-Looking Statements for QPM
This release includes forward-looking statements. Often, but not always, forward-looking statements can generally be identified by the use of forward-looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "continue", and "guidance", or other similar words and may include, without limitation statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production output.
Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of resources or reserves, political and social risks, changes to the regulatory framework within which the entity operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.
Forward-looking statements are based on the entity and its management's good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect business and operations in the future. There are no assurances that the assumptions on which forward-looking statements are based will prove to be correct, or that the business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the entity or management or beyond the entity's control.
Although there have been attempts to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward-looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be anticipated, estimated or intended, and many events are beyond the reasonable control of the entity. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements in this release are given as at the date of issue only. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the entity does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based. |
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| To: LoneClone who wrote (20159) | 9/26/2022 3:14:49 PM | | From: LoneClone | | | | Lithium One Acquires Strategic Property Adjoining Patriot's Corvette
newsfilecorp.com
Vancouver, British Columbia--(Newsfile Corp. - September 23, 2022) - Lithium One Metals Inc. (TSXV: LONE) (FSE: H490) (the "Company" or "LONE" ) reports that it has entered into an arms-length option agreement (the "Agreement") with Glenn Griesbach (the "Optionor") to acquire a 100% interest in and to the Lac Astrid Lithium Project in northwestern Quebec, Canada (the "Lac Astrid Property"). The Lac Astrid Lithium Project is composed of 70 mineral claims covering approximately 3,600 hectares (36 km2) located in a very active hard rock lithium pegmatite area in the prolific James Bay mining area of Quebec, 900 kilometers north-northeast of Montreal and 250 km east of the small community of Radisson, in the James Bay region of northern Quebec. The Lac Astrid Property is located approximately 14 kilometres south of the Trans-Taiga all-weather gravel highway and 18 kilometres south of the Cargair floatplane base.
The Lac Astrid Lithium property lies 11 km east of Patriot's Corvette Lithium discovery, within the 50km "CV Lithium Trend" which Patriot Metals describes as an emerging spodumene pegmatite district discovered by their exploration team in 2017.
There is little history of exploration on the Lac Astrid property. The mineralization of economic interest that is sought in the region and at Lac Astrid is found in Lithium-bearing spodumene- pegmatite dyke complexes.
LONE's initial focus of exploration will be the assessment of outcropping white pegmatite with muscovite and tourmaline (MERN database, outcrop 5526) first described by MERN geologists in 2011.
Pursuant to the Agreement, the Company may acquire a 100% interest in and to the Lac Astrid Project by (i) making aggregate cash payments of $600,000; ($100,000 on execution of the agreement, $200,000 on the first anniversary of the agreement, and. $300,000 on the second anniversary of the agreement) (ii) issuing an aggregate of 1,200,000 units and 3,000,000 common shares of the Company (1,200,000 units (each unit is comprised of one common share and one warrant exercisable at $0.40 for 24 months) on execution of the agreement, 1,000,000 shares on the first anniversary of the agreement, and 2,0000,000 shares on the second anniversary of the agreement. The share issuances and cash payments increase over the term of the Agreement. Upon exercise of the Option by the Company, the Optionor will retain a 3.0% net smelter returns royalty on the Lac Astrid Project, 2.0% of which may be purchased by the Company for $2,000,000.
In addition, the Company reports that Mr. Bilal Bhamji, CPA, CMA has been appointed as Chief Financial Officer. Mr. Bhamji, a graduate and class valedictorian of Vancouver Community College, BC has over 20 years of experience in accounting and finance.
The Company is also pleased to announce that it will be conducting a non-brokered private placement financing under which it will raise gross proceeds of up to $1.25 million by the issue of units at $0.25 per unit. Each unit consists of one common share and one half of a warrant. Each whole warrant shall be transferrable and entitle the holder to subscribe for an additional common share at $0.40 for a period of 2 years. The Company reserves the right to accelerate the expiry date of the warrants, in the event that the shares trade at $0.50 or above for a period of 10 consecutive trading day.
The Company intends to use the proceeds from the financing for mineral exploration and for general working capital.
The shares and units to be issued under the financing will be offered by way of private placement in each of the provinces of Canada and such other jurisdictions as may be determined by the Company pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. The securities issued under the financing will have a hold period of four months and one day from the date of issuance. The Company may pay finder's fees and may issue finder's warrants in connection with the financing.
Qualified person
This project is under the supervision of Andrew Lee Smith, PGeo, a director of Lithium One Metals Inc., under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Smith is responsible for the technical contents of this news release, and has approved the disclosure of the technical information contained herein.
See www.lithiumonemetals.com
On behalf of Lithium One Metals Inc.
Andrew Lee Smith
Chief Executive Officer
invest@lithiumonemetals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including but not limited to, the uncertainty of financings, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals. Readers are cautioned that the assumptions used in preparing such information, although considered reasonable at the time of preparation, may prove imprecise and undue reliance should not be placed on forward-looking statements. Forward-looking statements in this press release are expressly qualified by this cautionary statement.
The forward-looking statements in this press release are made as of the date of this press release, and the Company undertakes no obligations to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities law. |
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| To: LoneClone who wrote (20160) | 9/27/2022 3:56:24 PM | | From: LoneClone | | | | Scotch Creek Announces Extension to Highlands West Lithium Property Claims and Drill Permit
newsfilecorp.com
Vancouver, British Columbia--(Newsfile Corp. - September 21, 2022) - Scotch Creek Ventures Inc (CSE: SCV) (FSE: 7S2) (OTC PINK: SCVFF). (the "Company") ("Scotch Creek" or the "Company") is pleased to announce that the required drill permits have been granted to the Company for their Highlands West property within the Clayton Valley. Additionally, Scotch Creek has bolstered their Highlands West project claims, which now covers approximately 6,360-acres along the Central and Southwest margins of the Clayton Valley.
Scotch Creek's 400-acre claim extension encompasses newly prospective, basin margin rock units, as seen in high-resolution seismic data, and contains distinct, laterally extensive, well bedded units in the subsurface. These distinctive units appear correlative within several, robust, structural basins interpreted from the combination of detailed gravity and high quality seismic imaging of the property.
Several major faults have been identified in both seismic and detailed gravity data. These faults are interpreted to be bounding faults which separate multiple significant-size basins containing the well-bedded rock sequences.
These basins lie in close proximity to the Clayton Valley playa and existing brine production fields.
Scotch Creek CEO, Mr. David Ryan, commented, "Receiving the drill permit for our Highlands property is an important step towards achieving our exploration plans and goals for the project. Now that we have the required permit in place to commence an exploratory lithium drill campaign, we are thrilled to announce the extension of our Highlands claims in the Clayton Valley. We believe the new ground provides the Company with important additional claims contiguous with our existing project. Our goal is to locate a substantial lithium discovery at Highlands and thus create further value for our shareholders."
Scotch Creek would like to invite investors and stakeholders to connect with our investor relations team or visit our website to sign-up to receive regular updates and news alerts.
About Scotch Creek Ventures
Scotch Creek is a mineral exploration company, focused on the acquisition, exploration, and development of lithium projects located in tier-one mining jurisdictions such as Nevada, USA. Scotch Creek's vision is to secure North America's green revolution future with strategically sourced lithium projects.
On behalf of the Board of Directors
"David K. Ryan"
David Ryan
Chief Executive Officer
Further information about the Company is available on our website at www.scotch-creek.com or under our profile on SEDAR at www.sedar.com, and on the CSE website at www.thecse.com.
Public Relations Contact
Scotch Creek Ventures Inc.
Telephone: +1.604.862.2793
Email: info@scotch-creek.com
Website: www.scotch-creek.com
The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Forward-looking and cautionary statements
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release may contain statements within the meaning of safe harbour provisions as defined under securities laws and regulations.
This release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of the Company with respect to the same. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
 |
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| To: LoneClone who wrote (20161) | 9/28/2022 3:36:24 PM | | From: LoneClone | | | | SPEY RESOURCES TO ACQUIRE LITHIUM ENERGY METAL CORPORATION
ca.finance.yahoo.com
Spey Resources Corp.
Wed, September 28, 2022 at 2:00 a.m.·2 min read
Vancouver, British Columbia, Sept. 28, 2022 (GLOBE NEWSWIRE) -- Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) ("Spey” or the "Company") is pleased to announce that it has entered into an agreement (the “Agreement”) to acquire all of the shares of Lithium Energy Metal Corporation (“LEM”), which owns the following four (4) projects in the James Bay Region of Quebec:
The 454 Block Project - consists of 10 contiguous claims (513 hectares). The claims occur within the Archean Langelier Complex, which are the oldest rocks in the Le Grand sub-province of the regional Superior Province, and comprise foliated tonalite with hornlende-biotite magnetite.
The West Lac Corvette Project - consists of 10 contiguous claims (513 hectares). The claims cover Mesoarchean rocks of the Rouget Formation, derived from basalts as well as Neoarchean Marbot Formation wackes (with injections of granite), and southern margin of the Mesoarchean tonalite pluton (post de Le Moyne).
The Trieste Project - consists of two separate contiguous blocks totaling 50 claims and covering 2,575 hectares (618 hectares north, and 1,957 hectares south), with mylonite and amphibolite rocks of the Mesoarchean Trieste Formation that were derived from basalts.
Salomon Project – 100 claims in two separate continuous blocks, covering 5,155 hectares. The project includes Mesoarchean mylonites and amphibolites, as well as younger Neoarchean metamorphic wackes and arkoses.
On and subject to the conditions set forth in the Agreement, in consideration for the Acquisition, the Company will issue an aggregate of 8,900,000 common shares to the shareholders of LEM (collectively).
Closing of the Acquisition is subject to the Company being satisfied with its due diligence review, as well as certain customary conditions, including receipt of all necessary regulatory and other approvals.
Qualified Person
The technical and scientific information contained within this news release has been reviewed and approved by Robert Lane, MSc., P.Geo., who is a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Spey Resources Corp.
Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II and Pocitos II lithium brine projects, and a 20% interest in the Pocitos I lithium project, all of which are located in the Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.
For more information, please contact:
Nader Vatanchi CEO, Director
nader@speyresources.ca
778-881-4631
Cautionary Note Regarding Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, ????including with respect to with respect to the Acquisition and the Company's business and plans, including with respect to undertaking further acquisitions. The Company ??provides forward-looking statements for the purpose of conveying ??information about current ??expectations and plans relating to the future and readers are cautioned that ??such statements may not be ??appropriate for other purposes. By its nature, this information is subject to ??inherent risks and ??uncertainties that may be general or specific and which give rise to the possibility that ??expectations, ??forecasts, predictions, projections, or conclusions will not prove to be accurate, that ??assumptions may not ??be correct, and that objectives, strategic goals and priorities will not be achieved. ??These risks and ??uncertainties include but are not limited those identified and reported in the Company’s ??public filings ??under the Company’s SEDAR profile at www.sedar.com. Although the Company has ??attempted to identify ??important factors that could cause actual actions, events, or results to differ ??materially from those ??described in forward-looking information, there may be other factors that cause ??actions, events or ??results not to be as anticipated, estimated or intended. There can be no assurance that ??such information ??will prove to be accurate as actual results and future events could differ materially from ??those ??anticipated in such statements. The Company disclaims any intention or obligation to update or ??revise any ??forward-looking information, whether as a result of new information, future events or ??otherwise unless ??required by law.?
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this ?press release.? |
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| To: LoneClone who wrote (20162) | 9/28/2022 4:51:45 PM | | From: LoneClone | | | | Piedmont Lithium still open to more spodumene opportunities
miningweekly.com
28th September 2022
By: Esmarie Iannucci
Creamer Media Senior Deputy Editor: Australasia
PERTH (miningweekly.com) – Lithium developer Piedmont is looking at opportunities to increase its resource and ore reserves as it works towards bringing its US assets into production.
The dual-listed company earlier this year earmarked a site in Tennessee for the development of a new 30 000 t/y lithium hydroxide operation, which is expected to start in 2025, and will convert spodumene concentrate sourced from Piedmont’s global project into lithium hydroxide to supply the US electric vehicle (EV) manufacturing industry.
The Tennessee lithium hydroxide plant will complement the company’s planned Carolina lithium operation, which will be a fully integrated project producing 242 000 t/y of spodumene concentrate and by- products, as well as 30 000 t/y of lithium hydroxide, with operations slated to start in 2026.
In terms of spodumene production, Piedmont holds a 25% interest in Sayona Quebec, which has three lithium projects in the region, including the North American Lithium (NAL) operation, where production is set to start in the first quarter of 2023.
An earlier prefeasibility study (PFS) estimated that the 1.5-million-tonne-a-year NAL operation could deliver 4.4-million tonnes of spodumene concentrate over a mine life of 27 years.
Concentrate from the NAL operations will feed into the planned Tennessee plant.
Additionally, Piedmont is also earning a 50% interest in the Ewoyaa lithium project, in Ghana, from ASX- and Aim-listed Atlantic Lithium.
A recently completed PFS estimated that Ewoyaa ill require a capital investment of $125-million to deliver the 255 000 t/y lithium spodumene operation, with a mine life of 12.5 years.
The study calculated a post-tax net present value of $1.33-billion and free cash flows of $2-billion from life-of-mine (LoM) revenues of $4.84-billion.
Piedmont executive VP and COO Patrick Brindle told Mining Weekly Online on Wednesday that the Ewoyaa project was strategically located to allow Piedmont to ship spodumene concentrate either through the US East Coast or the Gulf of Mexico, and to use the spodumene as feedstock for the Tennessee project.
“The conclusion of the PFS in terms of concentrate production, capital and operating costs was in line with our expectations as joint venture partner. We are very exited to be working on the next steps, which includes application for mining licence and scoping level environmental impact assessment submissions, followed by a definitive feasibility study next year, so we can put ourselves in a position to potentially make a final investment decision by the end of next year,” said Brindle.
Piedmont’s earn-in into the Ewoyaa project includes an offtake agreement for 50% of the yearly production at market prices, on a LoM basis.
First production from Ewoyaa is planned for the third quarter of 2024.
Brindle told Mining Weekly Online that the US government’s push to secure critical mineral supply, and the legislation used to enact this ambition, had slotted in perfectly with the company’s own operational strategy for the next three to five years, of establishing lithium conversion capacity.
“We see opportunities from the Inflation Reduction Act to enhance the economics of our projects, and we have seen strong interest from the federal government in both loan and grant programmes.
"Having been at this for about five years, I would say that the last number of months have seen quite a material shift in the position and attitude of the US governments for these critical minerals.”
Brindle noted that while Piedmont’s ambition was to be a North American manufacturer of lithium hydroxide in the medium to long term, the company continued to be open to opportunities to invest in resources to support its long-term manufacturing plans. |
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| To: LoneClone who wrote (20163) | 9/28/2022 4:53:25 PM | | From: LoneClone | | | | Rio warns miners not moving fast enough on lithium extraction
miningweekly.com
28th September 2022
By: Bloomberg
Planned lithium production will fail to meet growth in demand for lithium ion batteries that are needed to meet global climate goals, according to Rio Tinto ’s minerals chief.
Lithium consumption needed “to surge way above anything that’s planned to be mined,” Sinead Kaufman told a conference in Perth on Wednesday. The metal is a vital ingredient in the batteries that power zero-carbon electric vehicles.
Rio was investing more capital in developing lithium and other battery metals, and was turning to waste from defunct mines to recover the minerals, Kaufman said. The world’s second-biggest miner also wanted to grow its copper business beyond planned projects in Mongolia and the US, she added.
Customers were demanding environmentally sound mining practices, forcing miners to decarbonize their operations, Kaufman said.
“We’ve got to decarbonize our own business, because producing material for the green transition can’t be done the way it was done previously,” she said.  |
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| To: LoneClone who wrote (20164) | 9/28/2022 5:21:34 PM | | From: LoneClone | | | | Petrolympic Completes Basserode and Fournière Lithium Property Acquisition
ca.finance.yahoo.com
Petrolympic Ltd.
September 21, 2022·3 min read
TORONTO, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Petrolympic Ltd. (TSX.V:PCQ) (OTC:PCQRF) (the “Company” or “Purchaser”) is pleased to announce that the TSX Venture Exchange (“TSX-V”) has accepted for filling the documentation pertaining to a purchase agreement previously announced July 26th , 2002. Pursuant to the TSX-V approval the Company and the vendors have amended the terms of the purchase agreement (“Amended Agreement”) to acquire the Basserode Lithium and Fournière Lithium properties in the emerging Cadillac-Pontiac lithium camp in the Abitibi-Témiscamingue region, southwest of Val d’Or, Quebec.
Both Properties are covered by a network of trails and logging roads allowing for good access and effective exploration with reduced exploration costs.
The Basserode and Fournière Properties lie within the rapidly emerging Cadillac-Pontiac lithium belt, where large properties have recently been assembled by companies such as Sayona Quebec Inc., Medaro Mining Corp., Brunswick Exploration Inc., High Tide Resources Corp., Narrow River Resources Pty Ltd., NeoTerrex Corp., Renforth Resources Inc., Vision Lithium Inc., and Winsome Resources Inc.
The Properties are nested in a highly favourable geological context for lithium exploration in the geological Pontiac Sub-province, which is located south of the Abitibi Greenstone Belt and is bounded by the Larder Lake-Cadillac Deformation Zone to the north and by the Grenville Front to the south.
As part of the original agreement the Vendor was to receive 500,000 common share purchase warrants (“Warrants”) conditional on the completion of a future flow-through financing and subject to the terms of such financing. The Amended Agreement states that the 500,000 Warrants to be issued shall be exercisable to purchase one common share of the Purchaser at a price not less than $0.07 per common share.
For further information please contact:
Mendel Ekstein - President
82 Richmond St East
Toronto, ON M5C 1P1
Tel. 845-656-0184 Fax 845-231-6665
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any information regarding the proposed acquisition, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: economic and global market impacts of the COVID-19 pandemic, fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward looking statements. |
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| To: LoneClone who wrote (20165) | 9/28/2022 5:32:43 PM | | From: LoneClone | | | | [Graphite/REE] Leading Edge Materials Reports Quarterly Results to July 31, 2022
ca.finance.yahoo.com
Leading Edge Materials Corp.
Wed, September 28, 2022 at 1:15 p.m.·8 min read
Vancouver, September 28, 2022 – Leading Edge Materials Corp. (“Leading Edge Materials” or the “Company”) (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) (FRA: 7FL) third quarter results for the period ending July 31, 2022. All references to dollar amounts in this release are in Canadian dollars.
Highlights During and After the Quarter
During the three months ended July 31, 2022:
On May 17, 2022, the Company signed Bihor Sud Exploration License between the Company’s subsidiary LEM Romania SRL and National Agency for Mineral Resources, Romania (“NAMR”).
On June 21, 2022, the Company took a decision to initiate a Natura 2000 permit application process for the Norra Karr project and retract the appeal against the mining lease rejection for Norra Karr.
On July 15, 2022, the Company received confirmation that NAMR approved the first-year exploration program for the Bihor Sud exploration license.
Subsequent to July 31, 2022:
On August 30, 2022, the Company announced a change in senior Management with the resignation of Mr. Filip Kozlowski, CEO of the Company, effective as of October 14, 2022. Mr. Eric Krafft, Director of the Company will be named interim CEO.
Results of Operations
Three Months Ended July 31, 2022, Compared to Three Months Ended April 30, 2022
During the three months ended July 31, 2022 (“Q3 2022”) the Company reported a net loss of $609,709 compared to a reported net loss of $790,120 for the three months ended April 30, 2022 (“Q2 2022”), a decrease in loss of $180,411, the decrease in loss mainly due to a reduced loss on revaluation of marketable securities of $126,036 booked in Q3 2022 compared to $357,800 in Q2 2022.
Three Months Ended July 31, 2022, Compared to Three Months Ended July 31, 2021
During the three months ended July 31, 2022 (“2022 period”), the Company reported a net loss of $609,709 compared to a net loss of $1,077,588 for the three months ended July 31, 2021 (“2021 period”), a decrease in loss of $467,879, the decrease in loss mainly due to a reduced loss on revaluation of marketable securities of $126,036 booked in the 2022 period compared to $430,315 booked in the 2021 period.
Selected Financial Data
The following selected financial information is derived from the unaudited condensed consolidated interim financial statements of the Company prepared in accordance with IFRS.
| Fiscal 2022
| Fiscal 2021
| Fiscal 2020
| Three Months Ended
| July 31,
2022
$
| April 30,
2022
$
| January 31,
2022
$
| October 31,
2021
$
| July 31,
2021
$
| April 30,
2021
$
| January 31,
2021
$
| October 31,
2020
$
| Operations
|
|
|
|
|
|
|
|
| Expenses
| (419,050)
| (433,894)
| (1,874,407)
| (460,907)
| (600,531)
| (483,495)
| (664,674)
| (882,556)
| Other items
| (190,659)
| (356,226)
| (219,942)
| (94,018)
| (477,057)
| 1,573,567
| (3,603)
| 327,987
| Comprehensive profit/(loss)
| (609,709)
| (790,120)
| (2,094,349)
| (554,925)
| (1,077,588)
| 1,090,072
| (668,277)
| (554,569)
| Basic Profit/(loss) per share
| (0.00)
| (0.00)
| (0.01)
| (0.01)
| (0.01)
| 0.01
| (0.00)
| (0.01)
| Diluted profit/(loss) per share
| (0.00)
| (0.00)
| (0.01)
| (0.01)
| (0.01)
| 0.01
| (0.00)
| (0.01)
| Financial Position
|
|
|
|
|
|
|
|
| Working capital
| 1,686,095
| 2,396,484
| 3,236,870
| 2,350,166
| 2,803,903
| 3,935,156
| 2,598,191
| 3,277,010
| Total assets
| 24,827,062
| 25,000,847
| 30,597,341
| 28,756,406
| 28,455,148
| 29,133,933
| 28,759,753
| 27,218,052
| Total non-current liabilities
| (6,159,922)
| (6,045,964)
| (10,812,012)
| (9,946,686)
| (9,054,376)
| (8,620,700)
| (9,154,787)
| (7,053,874)
|
-
Financial Condition / Capital Resources
During the three months ended July 31, 2022, the Company recorded a net loss of $609,709 and, as of July 31, 2022, the Company had an accumulated deficit of $44,598,448 and working capital of $1,686,095. The Company is maintaining its Woxna Graphite Mine on a “production-ready” basis to minimize costs and is conducting ongoing research and development to produce higher value specialty products. The Company is also evaluating a potential restart of production at the Woxna Graphite Mine. The Company anticipates that it has sufficient funding to meet anticipated levels of corporate administration and overheads for the ensuing twelve months however, it will need additional capital to provide working capital and recommence operations at the Woxna Graphite Mine, establish a production facility for the Anode Project, to fund future development of the Norra Karr Property or to complete exploration activities in Romania. There is no assurance such additional capital will be available to the Company on acceptable terms or at all. In the longer term the recoverability of the carrying value of the Company’s long-lived assets is dependent upon the Company’s ability to preserve its interest in the underlying mineral property interests, the discovery of economically recoverable reserves, the achievement of profitable operations and the ability of the Company to obtain financing to support its ongoing exploration programs and mining operations. See also “COVID-19”.
Outlook
On August 30, Leading Edge Materials announced a management change with CEO Filip Kozlowski leaving his role on October 14, to be replaced by director Eric Krafft as acting CEO. A recruitment process is ongoing for a new CEO for the Company that will set the course for the next phase of growth.
Pricing for both graphite1 and rare earth oxides2 have been reversing gains displayed earlier in the year. Downstream demand has been negatively impacted by a challenging power supply situation with temporary industrial shutdowns3 and substantial COVID lockdowns in China4. Longer term, the demand outlook for graphite from the battery industry is continuing to grow with for example the announcement of a massive 100 GWh battery plant by CATL in Hungary5.
Europe is accelerating policy measures to increase its raw materials security by going forward with plans for a Critical Raw Materials Act6 and a European Sovereignty fund that will look to support projects of strategic interest7.
Sweden held parliamentary elections in September with a right-wing coalition winning the majority of mandates, indicating a change in government once negotiations are done. Parties of the coalition have expressed their positive sentiment towards a strong and growing Swedish mining industry.
Preparatory studies and work are ongoing for the upcoming permitting process for Norra Kärr. The Company is continuing to evaluate the potential restart of flake graphite production at the Woxna mine with a careful consideration on the weakening macroeconomic outlook for European industry. The longer term opportunity to produce a graphite anode material is still the main focus and the Company is awaiting results from planned testwork with its potential JV partner Sicona. Since the granting of the exploration license in Romania an exploration team has been established and initial exploration work such as mapping and sampling having started on the ground with interesting targets for further evaluation already identified. Geophysical studies are scheduled to start while preparatory work is being done do enable the opening of old mining galleries which would provide an excellent exploration opportunity over the winter season.
Financial Information
The annual audited consolidated financial statements for the year ending October 31, 2022, is expected to be published on or about January 25, 2023.
On behalf of the Board of Directors,
Leading Edge Materials Corp.
Filip Kozlowski, CEO
For further information, please contact the Company at:
info@leadingedgematerials.com
www.leadingedgematerials.com
Follow us
Twitter: globenewswire.com
Linkedin: globenewswire.com
About Leading Edge Materials
Leading Edge Materials is a Canadian public company focused on developing a portfolio of critical raw material projects located in the European Union. Critical raw materials are determined as such by the European Union based on their economic importance and supply risk. They are directly linked to high growth technologies such as batteries for electromobility and energy storage and permanent magnets for electric motors and wind power that underpin the clean energy transition towards climate neutrality. The portfolio of projects includes the 100% owned Woxna Graphite mine (Sweden), Norra Karr HREE project (Sweden) and the 51% owned Bihor Sud Nickel Cobalt exploration alliance (Romania).
Additional Information
The Company’s unaudited consolidated financial statements for the three months ended July 31, 2022 and related management’s discussion and analysis are available on the Company’s website at www.leadingedgematerials.com or under its profile on SEDAR at www.sedar.com
The information was submitted for publication through the agency of the contact person set out above, on September 28, 2022, at 1:15 pm Vancouver time.
Leading Edge Materials is listed on the TSXV under the symbol “LEM”, OTCQB under the symbol “LEMIF” and Nasdaq First North Stockholm under the symbol "LEMSE". Mangold Fondkommission AB is the Company’s Certified Adviser for its Nasdaq First North listing.
Reader Advisory
Certain information in this MD&A may constitute forward-looking statements or forward-looking information within the meaning of applicable Canadian securities laws (collectively, “Forward-Looking Statements”). All statements, other than statements of historical fact, addressing activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are Forward-Looking Statements. Forward-Looking Statements are often, but not always, identified by the use of words such as “seek,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” and “intend” and statements that an event or result “may,” “will,” “can,” “should,” “could,” or “might” occur or be achieved and other similar expressions. Forward-Looking Statements are based upon the opinions and expectations of the Company based on information currently available to the Company. Forward-Looking Statements are subject to a number of factors, risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the Forward-Looking Statements including, among other things, the Company has yet to generate a profit from its activities; there can be no guarantee that the estimates of quantities or qualities of minerals disclosed in the Company’s public record will be economically recoverable; uncertainties relating to the availability and costs of financing needed in the future; competition with other companies within the mining industry; the success of the Company is largely dependent upon the performance of its directors and officers and the Company’s ability to attract and train key personnel; changes in world metal markets and equity markets beyond the Company’s control; the possibility of write-downs and impairments; the risks associated with uninsurable risks arising during the course of exploration; development and production; the risks associated with changes in the mining regulatory regime governing the Company; the risks associated with tenure to the Norra Karr property; the risks associated with the various environmental regulations the Company is subject to; rehabilitation and restitution costs; the Woxna project has never defined a mineral reserve or a feasibility study and the associated increased risk of technical and economic failure in case of restarting production; risks relating to the preliminary and non-binding nature of the MOU with Sicona. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the Forward-Looking Statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such Forward-Looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such Forward-Looking Statements. Such Forward-Looking Statements has been provided for the purpose of assisting investors in understanding the Company’s business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on Forward-Looking Statements. Forward-Looking Statements are made as of the date hereof, and the Company does not undertake to update such Forward-Looking Statements except in accordance with applicable securities laws.
COVID-19
On March 11, 2020, the World Health Organization declared COVID-19 a pandemic At this time, World Health Organization has not yet announced the end of the pandemic. The duration and full financial effect of the COVID-19 pandemic is unknown at this time with management monitoring developments across all jurisdictions and will adjust its planning as necessary.
1 fastmarkets.com
2 metal.com
3 technode.com
4 mining.com
5 electrek.co
6 linkedin.com
7 linkedin.com
Attachments
20220928 LEM 2022Q3 press release
Leading Edge Materials Corp Interim 2022 Q3 results
|
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| To: LoneClone who wrote (20166) | 9/29/2022 1:59:47 PM | | From: LoneClone | | | | Atacama Resources Acquires Mineral Rights to 317 Acre Cobalt, Silver, Gold and Diamond Property Near Cobalt, Ontario
newsfilecorp.com
Plantation, Florida--(Newsfile Corp. - September 28, 2022) - Atacama Resources International, Inc. (OTC Pink: ACRL) ("Atacama") remains focused on its asset exploration and development program and is pleased to announce that the company has acquired mining rights to a 317 acre cobalt, silver, macro diamond, and gold property. Atacama has taken grab samples near the existing trenches, pits, and shallow shafts on the property and plans to do more extensive exploration in the near future. Initial assay results indicated trace amounts of gold and larger amounts of silver, diamonds and cobalt. 1.22% cobalt has been found near one of the shaft areas and the prospecting report recommends further backhoe stripping to uncover the original bedrock surface. Atacama is calling the 317 acre property of rich cobalt "Atacama Cobalt #1."
Located in the largest cobalt region in the world, Atacama is also fortunate to be located near North America's only battery grade cobalt refinery. The proximity of this refinery in Temiskaming, Ontario to our property could help provide a significant cost savings compared to our global competitors. This refinery is set to be completed by December 2022 into 2023 indicating a growing demand for rare metals like cobalt. We have been looking at other claims in the area and look forward to further development of this property as it shows significant potential in a rapidly expanding global EV market.
Originally, the rising demand for cobalt was due to its use in super alloys needed in nuclear reactors, jet and rocket engines, turbines, power plants and in various military and aerospace technologies. While these are still active markets for cobalt, the emergence of electric vehicles has increased the demand for cobalt significantly. As the newly mandated replacement for gas powered vehicles begins to take place in more areas globally, we feel the demand for rare metals used in manufacturing high-power rechargeable batteries will continue to grow in large demand. We feel positioning ourselves in multiple metal markets such as in Canada, the United States, and elsewhere will provide opportunities for Atacama to grow internationally.
According to Board Chairman Glenn Grant, "The emergence of the EV industry has changed the transportation world forever and Atacama Resources is committed to providing the metals required to support this exciting and rapidly expanding industry. While acquiring the Atacama Cobalt #1 Property is an important part of our strategy, it is only a small fraction of what we plan to accomplish. In addition to this property, the company is also moving forward on the acquisition of additional strategic properties and we will announce these assets in the near future. We will also remain focused on Atacama's goals and providing transparency to shareholders where we can. Completing our audited financial statements remains top priority and we continue to make progress there as well. Thank you, shareholders for your continued patience and support as we help build Atacama into its full potential."
Please stay tuned on social media and our website for additional information as those updates become available.
About Atacama Resources International ( www.acrlintl.com)
Atacama Resources International is a publicly traded OTC Pink company with significant mining claims in the greater Kirkland Lake area of Northern Ontario. Metals and minerals under potential exploration include gold, silver, copper, graphite, and cobalt.
Forward-Looking Statements
Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Atacama Resources International. Such forward-looking statements are based on current expectations, estimates, and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports as filed with OTC Markets. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.
For more information please contact: Glenn Grant at ggrant@acrlintl.com. |
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