| To: LoneClone who wrote (21083) | 5/30/2023 2:00:18 PM | | From: LoneClone | | | | Northern Graphite Announces New Drill Program with the Objective of Extending the Mine Life at Lac des Iles
newsfilecorp.com
Ottawa, Ontario--(Newsfile Corp. - May 24, 2023) - Northern Graphite Corporation (TSXV: NGC) (OTCQB: NGPHF) (FSE: 0NG) (XSTU: 0NG) (the "Company" or "Northern") is pleased to announce the start of a new drill program at its Lac des Iles ("LDI") property that is designed to explore previously untested areas of the property with the objective of extending the life of what is the only significant producing natural graphite mine in North America.
Located in Quebec, 180 kilometres northwest of Montreal, the Lac des Iles graphite mine has been in operation for over 20 years and was acquired by Northern in April 2022. After a detailed review of historical studies and mine plans, the Company identified a number of target zones on the LDI property that include the northern extension of the pit, mineralization in the west side of the pit wall and numerous electromagnetic conductors, some of which already have encouraging intersections from historical drilling.
Drill Samples from LDI
To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com
"The new drill program began on May 8th, comprises 8,000 meters of drilling and seeks to delineate additional mineralization as Northern pursues its previously stated plan to increase mine life and production capacity at LDI, including through the potential development of the Company's Mousseau West deposit located approximately 80 kilometres away," said Northern Graphite Chief Operating Officer Kirsty Liddicoat.
"Historically, there has been an underinvestment in exploration at Lac des Iles. We know the property, we know the deposit and extending the life of the mine will set up LDI as a supplier of graphite to Baie-Comeau, where we have plans to build a Battery Anode Material plant," said Northern Chief Executive Officer Hugues Jacquemin. "This drill program supports our strategy to become a long-term, sustainable and integrated mine-to-market supplier of natural graphite to traditional customers and also serve growing demand stemming from the energy transition and widescale electrification."
The drill program is being financed from the proceeds of the Company's $2.25 million charity flow-through private placement completed on April 27, 2023. Preliminary assay results from the program are anticipated to be available in June.
About Northern Graphite
Northern is a Canadian, TSX Venture Exchange listed company that is focused on becoming a world leader in producing natural graphite and upgrading it into high value products critical to the green economy including anode material for lithium-ion batteries/EVs, fuel cells and graphene, as well as advanced industrial technologies.
Northern is the only significant graphite producing company in North America and will become the third largest producer outside of China when its Namibian operations come back online. The Company also has two large scale development projects, Bissett Creek in Ontario and Okanjande in Namibia, that will be a source of continued production growth in the future. All projects have "battery quality" graphite and are located close to infrastructure in politically stable jurisdictions.
For further information contact
Guillaume Jacq, CFO
Telephone: (613) 271-2124
Email: info@northerngraphite.com
Qualified Person
Gregory Bowes, B.Sc. MBA P.Geo, the Chairman of Northern, is a "qualified person" as defined under National Instrument 43-101 and has reviewed and approved the content of this news release.
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Please visit the Company's website at api.newsfilecorp.com, the Company's profile on www.sedar.com, our Social Channels listed below or contact the Company at (613) 271-2124.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward- looking statements and information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements in this release include statements regarding, among others, the Company's intentions to complete the drill program, the anticipated results from the drill program and the Company's intentions with respect to advancing its developments projects to production and developing the capacity to manufacture value added products. All such forward-looking statements are based on assumptions and analyses made by management based on their experience and perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. However, these statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected including, but not limited to unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of other parties to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure and the failure of ongoing and contemplated studies to deliver anticipated results or results that would justify and support continued studies, development or operations. Readers are cautioned not to place undue reliance on forward-looking information or statements.
Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
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. |
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| To: LoneClone who wrote (21084) | 5/30/2023 2:13:07 PM | | From: LoneClone | | | | Recharge Resources Commences Magnetotelleric Survey at Pocitos 1 and 2 Lithium Project
ca.finance.yahoo.com
News Direct
Tue, May 30, 2023 at 12:06 a.m. PDT·5 min read
Vancouver, BC – TheNewswire - May 30, 2023 - Recharge Resources Ltd. ("Recharge" or the "Company") (RR:CSE) (RECHF:OTC) (SL5:Frankfurt) announced today that it has completed 1,800m of a 8500m three line magnetotelleric geophysics survey at its Pocitos Lithium Brine Project on the Pocitos 1 and 2 blocks in Pocitos salar, Argentina. The survey will penetrate to at least 1-2,000m depth with the equipment being used by Southernrock geophysics.
As previously announced, the basis for the NI 43-101 report is well underway after Recharge’s Qualified Person, Phillip Thomas set up the drill program in Argentina when he was there in November 2022 and again in January 2023 and most recently in May of 2023 to measure and review core, flow rates and assays to complete the NI43-101 compliant report. External hydrologist’s have also visited the project and inspected the site and core.
The geophysics will greatly assist the additional drilling across the contiguous Pocitos 1 and Pocitos 2 blocks to determine the size of the potential resource as well as allow the confidence of the estimate to be moved from inferred to indicated and measured categories upon completion of this maiden NI 43-101.
QP Phil Thomas, BSc Geol, FAusIMM MAIG, has spent the past 22 years exploring for lithium brines, including building and operating a pilot plant for production at Rincon Salar (sold to Rio Tinto for US$825 Million) as well as he and his team explored the Pozuelos salar, producing an indicated and inferred resource, from four exploration wells (recently sold to Ganfeng for US$962 million).
Click Image To View Full Size
Fig 1. Planned survey showing drill holes from 2018 and 2022 drill campaigns.
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Fig 2. Lines showing data acquired as at 27 May 2023
Click Image To View Full Size
Fig 3. Geophysicists and technical team laying MT survey lines
This is another milestone in the Company's endeavour to build up to a 20,000-tonne Ekosolve™ direct lithium extraction (DLE) plant at the Pocitos project in order to supply Richlink Capital Pty. Ltd. up to 20,000 tonnes of lithium chloride/carbonate per year, as previously announced under a letter of intent of offtake.
CEO, David Greenway, summarised, "Recharge is pushing forward on all fronts with an inaugural NI 43-101, a pending drilling program, and a subsequent NI 43-101 resource estimate. Testing of extraction efficiency and lithium carbonate production at Ekosolve’s facility a University of Melbourne is progressing well. These developments should make for an exciting next period for Recharge and its stakeholders at the Pocitos lithium brine project.”
About Pocitos Lithium Brine Project
The Pocitos Project is located approximately 10 km from the township of Pocitos where there is gas, electricity, and internet services. Pocitos (1 &2) is approximately 1,352 hectares and is accessible by road. Collective exploration totaling over USD $2.0 million developing the project, including surface sampling, trenching, TEM geophysics and drilling three holes that had outstanding brine flow results. Locations for immediate follow up drilling have already been designed and identified for upcoming exploration. Our next step is to do a Magnetotelleric geophysics survey to position the next drill holes. This survey will penetrate to more than 800m.
Lithium values of up to 169 ppm from laboratory analysis conducted by Alex Stewart were recorded by during the project’s drill campaigns as recent as December 2022. A double packer sampling system in HQ Diamond drill holes were drilled to a depth of up to 409 metres. The flow of brine was observed to continue for more than five hours. All holes had exceptional brine flow rates.
Click Image To View Full Size
Figure 4. Pocitos Lithium Claim Map
Qualified Person
Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release, and has approved the disclosure herein.
Thomas is independent of the Company and is NOT a shareholder of Recharge Resources. Thomas visited the property to view the core between January 15th-22nd, 2023 and 8 May 2023 to determine if additional flow tests could be arranged.
About Recharge Resources
Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.
All Stakeholders are encouraged to follow the Company on its social media profiles on LinkedIn, Twitter, Facebook and Instagram.
On Behalf of the Board of Directors,
“David Greenway”
David Greenway, CEO
For further information, please contact:
Recharge Resources Ltd.Joel WarawaPhone: 778-588-5473E-Mail: info@recharge-resources.comWebsite: recharge-resources.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Recharge’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Recharge will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including Recharge’s results of exploration or review of properties that Recharge does acquire. These forward-looking statements are made as of the date of this news release and Recharge assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
View source version on newsdirect.com: newsdirect.com |
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| To: LoneClone who wrote (21085) | 5/30/2023 2:18:15 PM | | From: LoneClone | | | | [Lithium] Mosaic Minerals Counts 52 Pegmatites on Mirabelli SM
ca.finance.yahoo.com
Mosaic Minerals Corporation
May 23, 2023·5 min read
Mirabelli SM Geology
Mirabelli SM Geology
MONTREAL, May 23, 2023 (GLOBE NEWSWIRE) -- Mosaic Minerals Corporation (CSE: MOC) (“Mosaic” or “The Company”) is pleased to announce that it has counted the presence of 52 pegmatites favorable to the presence of lithium on its Mirabelli SM project, located less than 20 KM south of the municipality of Eastmain, in Jamésie.
Following the compilation of an exploration program orchestrated by the Ministry of Energy and Natural Resources (MERN) in 2001, the company's technical team identified the presence of 52 unanalyzed pegmatites on this project. In addition, we note the presence of several indicator minerals favorable to the presence of spodumene such as muscovite, tourmaline, beryl, and garnet.
The various outcrops visited and described by the MERN in 2001 were mainly composed of tonalite, granodiorite, garnet, and sillimanite paragneiss with a proportion of up to 50% pegmatite. The following map will allow the reader to locate the different pegmatites on Mirabelli SM.
Mirabelli Sigeom Geology_I1G
The management of the company also noticed that a large number of pegmatites follows a pegmatitic corridor of NE-SW direction of about 20 KM which corridor seems associated with a major fault located at the contact of a paragneiss and a tonalitic intrusive. During the exploration and sampling work carried out in collaboration with ALS Goldspot Discoveries, this corridor will be treated as a priority, as well as another sector located east of the tonalitic intrusive where several pegmatites have also been listed by the MERN.
“This compilation work made it possible to target a set of pegmatites to be sampled during the summer period. This looks promising for the future. Also, many other outcrops that have not been visited in past years may offer other favorable targets. We can't wait to begin our exploration campaign” underlined Mr. Jonathan Hamel, President, and Chief Executive Officer of the Company.
The company also acquired by map staking 13 new mining cells in the eastern part of its Mirabelli SM project, which now includes 346 claims for an area of approximately 18,340 hectares.
A remote sensing study is also underway on multispectral satellite data to identify and characterize other pegmatite outcrops likely to contain spodumene mineralization. The results obtained will then be integrated into the final target definition process in order to prioritize the sectors to be investigated for the field prospecting campaign planned for the summer of 2023 on the Maqua SM, Pluton SM, Mirabelli SM, Lithium SM and Lichen.
The Lithium SM, Lichen, Maqua SM, Pluton SM and Dalmas SM projects will also be visited during the summer period. Exploration work on Lithium SM and Lichen will begin according to the company's schedule next June and then move on to the projects located in James Bay in July.
The technical content of this press release has been reviewed and approved by Mr. Gilles Laverdière, P.Geo., an independent consulting geologist and a Qualified Person as defined in NI 43-101.
About Mosaic Minerals Corporation
Mosaic Minerals Corp. is a Canadian mining exploration company listed on the Canadian Securities Exchange (CSE: MOC) focusing on the exploration of minerals such as Nickel and Lithium in the province of Quebec.
Source:
M. Jonathan Hamel
President & CEO
jhamel@mosaicminerals.ca
This release contains certain “forward-looking information” under applicable Canadian securities laws concerning the Arrangement. Forward-looking information reflects the Company’s current internal expectations or beliefs and is based on information currently available to the Company. In some cases, forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “potential”, “scheduled”, “forecast”, “budget” or the negative of those terms or other comparable terminology. Assumptions upon which such forward-looking information is based includes, among others, that the conditions to closing of the Arrangement will be satisfied and that the Arrangement will be completed on the terms set out in the definitive agreement. Many of these assumptions are based on factors and events that are not within the control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: that the remaining conditions to the Arrangement will not be satisfied; that the business prospects and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other commodities (such as diesel, aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining tax regimes; ability to successfully integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; laws and regulations governing the protection of the environment; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and development; contests over title to properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. Risks and unknowns inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and operating costs of such projects, and the future prices for the relevant minerals. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
A photo accompanying this announcement is available at globenewswire.com |
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| To: LoneClone who wrote (21086) | 5/30/2023 2:45:14 PM | | From: LoneClone | | | | VOLT LITHIUM ANNOUNCES SUCCESSFUL PILOT PROJECT, CONFIRMING 90% LITHIUM RECOVERY, COMMERCIAL ECONOMICS AND UNPRECEDENTED BREAKTHROUGH
ca.finance.yahoo.com
Volt Lithium Corp.
Wed, May 24, 2023 at 5:33 a.m. PDT·11 min read
Pilot Project achieved 90% lithium recoveries at concentrations as low as 34 mg/L
97% recoveries achieved using 120 mg/L concentrations under simulated operating conditions
Operating costs under CAD$4,000 per tonne at 120 mg/L expected to drive robust economics
Novel breakthrough confirms commercial lithium extraction at low concentrations
Pilot Project results set the stage for preparation of Preliminary Economic Assessment
Calgary, Alberta, Canada, May 24, 2023 (GLOBE NEWSWIRE) -- Volt Lithium Corp. (TSX-V: VLT, OTCQB: VLTLF, FSE: I2D) (“Volt” or the “Company”) is very pleased to announce the results from a successful pilot project to test its proprietary direct lithium extraction (“DLE”) technology in a simulated commercial environment (the “Pilot Project”). The Pilot Project proved the Company’s ability to achieve lithium recoveries of 90% based on concentrations of only 34 mg/L. The Company also simulated operating conditions at concentrations of 120mg/L and achieved recoveries of up to 97% with operating costs under CAD$4,000 per tonne, assuming sustained average annual production of 20,000 tonnes (tpa) of lithium hydroxide monohydrate (“LHM”). Further, in an unprecedented result, the Pilot Project proved Volt’s DLE technology can maintain 90% lithium recoveries in concentrations as low as 34 mg/L, and still maintain commercial economics, an achievement that has yet to be reported by other lithium producers.
“Volt has achieved remarkable and ground-breaking results through the Pilot Project, and achieved an impressive 97% recovery rate with 120 mg/L concentrations under simulated operating conditions. I want to thank the entire R&D, operational and engineering teams for their dedication and hard work in successfully executing this first phase,” commented Alex Wylie, President and CEO of Volt. “These results confirm that Volt's proprietary technology is a true game-changer. With this accomplishment, we are poised to lead the way in North America as the first commercial producer of lithium from oilfield brines, which we are targeting for the second half of next year.”
Volt is pleased to be participating in a webinar hosted by Energy Prospectus Group later this morning, Wednesday, May 24 at 11AM ET (9AM MT / 8AM PT) to discuss the Company, the significance of these results and what lies ahead for Volt and its stakeholders. All interested parties are encouraged to join the live webinar by clicking HERE.
PILOT PROJECT PROVES COMMERCIALITY OF VOLT’S TECHNOLOGY
In March of 2023, Volt commenced its Pilot Project which was designed to simulate a commercial operating environment and allow the Company to confirm economic recoveries of lithium at concentrations of up to 120 mg/L, an equivalent concentration to that found in the Muskeg aquifer at Volt’s Rainbow Lake Property as outlined in the Company’s press release issued May 18, 2023. The Pilot Project enables Volt to verify the extraction capabilities of its IES-300 technology and to determine operating costs for the DLE process, a key factor in determining viability for commercial applications and ultimate profitability.
The Company consistently achieved extraction recoveries up to 90% using IES-300 at low lithium concentrations of 34 mg/L. Volt simulated pilot conditions using brine concentrated to 120 mg/L and achieved lithium extraction results as high as 97% with realized operating costs of less than CAD$4,000 per tonne, assuming sustained average production of 20,000 tpa of LHM. The Company intends to process brines with lithium concentrations of 120 mg/L through the Pilot Project in the next week to validate in practice the results Volt realized in its simulated environment.
As outlined in the Company’s technical report, Volt has a total inferred mineral resource of 4.3 million tonnes of lithium carbonate equivalent (“LCE”) (4.9 million tonnes of LHM) at its Rainbow Lake property, more than 215 times its targeted sustained average production of 20,000 tpa, with lithium concentrations as high as 121 mg/L. This affords Volt ample brine sources at varying lithium concentrations in its current asset base to continue advancing commercial development, including commencing discussions to secure the required refining infrastructure needed to generate commercial quantities of LHM.
Volt’s R&D and operational team, led by Dr. John McEwen, PhD, Chem, believe the operating conditions have been successfully achieved for lithium extraction culminating in a successful Pilot Project.
PROPRIETARY TWO-STAGE DLE TECHNOLOGY PROCESS
Volt’s proprietary DLE technology involves a two-stage process to extract lithium from oilfield brine. In Stage One, the oilfield brine is treated using proven equipment and established processes, and during the Pilot Project, Volt confirmed the ability to effectively remove up to 99% of contaminants in the preparation of clean brine for the DLE process. This is critical as having contaminants in the brine causes interference during the DLE process and can lead to uneconomic processes.
Please click here to view image
In Stage Two, Volt uses the Company’s proprietary IES-300 technology to extract lithium from the brine, which is concentrated down into a lithium chloride solution that will ultimately be upgraded to LHM, an essential raw material required for batteries, and in particular, electric vehicle batteries. Volt's IES-300 technology reduces the amount of re-agent required to treat oilfield brine as it enters the extraction process.
The combination of continued high lithium extraction levels, a streamlined process and ongoing efficiency improvements has resulted in lower operating costs for Volt, demonstrated at less than CAD$4,000 per tonne in the Pilot Project, driving robust economics that can support sustainability and anticipated profitability over the long-term.
STRATEGIC IMPORTANCE OF PILOT PROJECT BREAKTHROUGH
While the Company’s asset base offers significant development opportunities at the higher lithium concentration levels, Volt recognized that expanding its asset base and access to brine necessitates achieving extraction recovery levels of at least 90% using brine that contains much lower lithium concentrations.
Through the Pilot Project, the Company simulated a number of operating conditions and various cycle times for its proprietary IES-300 technology in order to determine the parameters for eventual commercial operations and confirm IES-300 was robust enough to successfully extract lithium from the lowest concentration brine in oilfields and other reservoirs. Volt succeeded in achieving recoveries of 90% at concentrations as low as 34 mg/L, with the operating costs associated with varying concentration levels under commercial operating assumptions shown in Figure A. This technological discovery effectively opens up multiple oilfield reservoirs across North America that can now offer commercial lithium extraction using Volt’s proprietary DLE process.
The operating cost estimates presented in Figure A included reagent, direct and indirect costs for the DLE process, with approximately 63% of the total operating costs based on usage of reagent and other consumables that are required to extract lithium from the brine, as well as conversion to LHM. Since the Company did not seek to optimize reagent usage during the Pilot Project, Volt anticipates that future reagent consumption can be optimized and will be explored once a permanent pilot plant is commissioned.
NEXT STEPS
Based upon the successful execution of the Pilot Project, Volt will look to establish a permanent pilot plant in order to continue refining its IES-300 technology, test the optimization of reagent usage, and continue to improve operating conditions with the goal of continually driving down operating costs to achieve improved economics that underpin commencing commercial operations.
In addition, Volt will continue to focus on upgrading its resource estimate and commencing the preparation of a Preliminary Economic Assessment based on the successful extraction and operating results of this Pilot Project and the Company’s recently published NI 43-101 resource report. Volt will also advance the engineering design phase to determine the optimal commercial parameters for its DLE process which will ultimately support the achievement of commercial production by the second half of 2024.
QUALIFIED PERSON
Scientific and technical information contained in this press release has been prepared under the supervision of Doug Ashton, P.Eng, and Meghan Klein, P.Eng of Sproule Associates Limited, each of whom are qualified persons within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
About Volt
Volt is a lithium development and technology company aiming to be North America’s first commercial producer of LHM and lithium carbonates from oilfield brine. Our strategy is to generate value for shareholders by leveraging management’s hydrocarbon experience and existing infrastructure to extract lithium deposits from existing wells, thereby reducing capital costs, lowering risks and supporting the world’s clean energy transition. With four differentiating pillars, and a proprietary Direct Lithium Extraction (“DLE”) technology, Volt’s innovative approach to development is focused on allowing the highest lithium recoveries with lowest costs, positioning us well for future commercialization. We are committed to operating efficiently and with transparency across all areas of the business staying sharply focused on creating long-term, sustainable shareholder value. Investors and/or other interested parties may sign up for updates about the Company’s continued progress on its website: voltlithium.com
Contact Information
For Investor Relations inquiries or further information, please contact:
Alex Wylie, President & CEO
awylie@voltlithium.com
M: +1.403.830.5811
Forward Looking Statements
This news release includes certain “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward-looking statements or information. Statements, other than statements of historical fact, may constitute forward looking information and include, without limitation, statements about future exploration activities; the preparation and disclosure of a NI 43-101 technical report; the merits of the Rainbow Lake Project; the disclosure of additional technical information and recommended exploration activities for the Rainbow Lake Project; the financial position, assets, liabilities and loss position of Volt; Volt’s future financial commitments; Volt’s expected financial position and financial commitments following completion of the Acquisition; the satisfaction of closing conditions and completion of the Acquisition; the merits of the Acquisition; the ownership and management of the Company upon closing; the minerals targeted by Volt; that the Acquisition accelerates the execution of the Company’s strategy; and the expected closing of the Acquisition. Forward-looking statements and forward-looking information also include any statements relating to future mineral production, liquidity, enhanced value and capital markets profile of Volt , future growth potential for Volt and its business, and future exploration plans. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions regarding, among other things, the closing of the Acquisition; the approval of the TSXV; and the ability of the parties to complete the Acquisition as contemplated in the Agreement. Assumptions have also been made regarding, among other things, the price of copper, lithium and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Volt’s ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms, that the geological, metallurgical, engineering, financial and economic advice that the Company has received is reliable and are based upon practices and methodologies which are consistent with industry standards. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies and may prove to be incorrect. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of well results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; inability to obtain TSXV approval on terms acceptable to the Company and the Vendors; inability to satisfy the closing conditions of the Agreement; inability to realize the expected synergies from the Acquisition; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; increased costs and restrictions on operations due to compliance with environmental and other requirements; increased costs affecting the metals industry and increased competition in the metals industry for properties, qualified personnel, and management. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. |
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| To: LoneClone who wrote (21087) | 5/30/2023 3:01:23 PM | | From: LoneClone | | | | Fjordland Acquires Kegashka Lithium Project on the North Shore of Quebec
newsfilecorp.com
Vancouver, British Columbia--(Newsfile Corp. - May 25, 2023) - Fjordland Exploration Inc. (TSXV: FEX) (the "Company") is pleased to announce that it has acquired by staking the 233 square kilometer Kegashka Lithium Project ("KLP") located 40 kilometers north-east of Natashquan on Quebec's North Shore.
The KLP project was identified based on a desk top study of a region defined by highly anomalous lithium-rich lake bottom sediments derived from the Quebec government's geochemical database. Research revealed that historical geology maps from the 1970's and 80's had identified pegmatites that were not subsequently added to Quebec's online database, SIGÉOM. The 1969 map prepared by J.P. Bassaget (SIGÉOM file RP597PLAN.pdf) specifically identified "White Pegmatite" as a map unit - which was quite uncommon. Most lithium bearing spodumene deposits in Quebec are found within white pegmatite bodies. A later map published in 1983 by Quebec's Ministry of Energy and Resources (SIGÉOM file DV8314PLAN_1-19.pdf) identified rock unit G19 as being "Granite with Pegmatite". As seen in the map below, the largest of these units lies within the Fjordland claim group and measures 45 square kilometers.
James Tuer, Fjordland's President commented, "We think this land package offers our shareholders an excellent opportunity to participate in the lithium staking rush happening in Quebec right now. There is a sound geological rationale for why we have specifically chosen this ground. Another group staked over 1,200 square kilometers next to us based purely on the chemistry in the lake bottom sediments. We think we have a superior land package based on historical maps that have identified the prerequisite pegmatite units occurring within the KLP claim group. Our initial reconnaissance for the project will start the third week of June."
About Fjordland Exploration Inc.
Fjordland Exploration Inc. is a mineral exploration company that is focused on the discovery of large-scale economic metal deposits in Canada.
In collaboration with Commander Resources Ltd., Fjordland is exploring the SVB "Pants Lake Intrusive" target which is in a geologic setting analogous to the nearby nickel-cobalt-copper Voisey's Bay deposit. Fjordland has earned a 75% interest in the project.
Fjordland, owns a 100% interest in the Renzy nickel-project located near Maniwaki, Quebec. The project encompasses the former Renzy Mine where, during the period from 1969 to 1972, 716,000 short tons were mined with average grades of 0.70% nickel and 0.72% copper. Recent work also highlighted the graphite potential for the project. The project size measures 530 sq. km.
Fjordland has two copper-gold properties in the Quesnel Trough of central British Columbia, The West Milligan copper-gold project is a joint venture with Northwest Copper Corp. located within 4 km of Centerra's Mount Milligan copper-gold mine. The 103 sq. km. Witch copper-gold project is located another 35 km west of the Milligan mine.
Figure 1
To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com
Robert Cameron, PGeo, is a qualified person within the context of National Instrument 43-101 and has read and takes responsibility for the technical aspects of this release.
ON BEHALF OF THE BOARD OF DIRECTORS
"James Tuer"
James Tuer, CEO
For further information:
James Tuer
Ph: 604-688-3415
tuer@fjordlandex.com
www.fjordlandex.com
Forward-Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this news release, including, without limitation, statements regarding the use of proceeds from the private placement, and other future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include market prices, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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. |
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| To: LoneClone who wrote (21088) | 5/30/2023 3:05:49 PM | | From: LoneClone | | | | [Lithium]
High Tide Resources Provides Exploration Update for the Clearcut and Big Bang Lithium Projects
accesswire.com
Tuesday, May 30, 2023 6:00 AM
Prospecting now underway at Clearcut, Big Bang project set for June
TORONTO, ON / ACCESSWIRE / May 30, 2023 / High Tide Resources Corp. ("High Tide" or the "Company") (CSE:HTRC) is pleased to provide an exploration update for the Clearcut and Big Bang lithium projects located in Quebec and Ontario respectively.
Phase-2 exploration work has commenced at the 14,400-hectare Clearcut project with field exploration crews currently prospecting and mapping in five high-priority areas outlined by a recent review of the 2022 geochemical, geophysical and LiDAR surveys.
While Phase-1 field program assays revealed only minor variations of the lithium background content, small clusters of white pegmatite dykes aligned with interpreted ESE- and ENE-trending structures along with heterogeneous magnetic and radiometric signals in an underexplored environment merit deeper investigation.
Steve Roebuck, Director, President & Interim CEO of High Tide states, "Our immediate focus at Clearcut is to concentrate our prospecting efforts in areas of interpreted structure along with coincident geophysical anomalies. With a project as large as Clearcut, that has no exploration history, you learn something new everyday and we have experienced teams working the ground right now. At Big Bang, we are thrilled to get to work and we are now only days away from accessing the property and seeing the outcrop first-hand."
At the 6,200-hectare road accessible Big Bang project located south of Geraldton in NW Ontario a reconnaissance program is set to commence the first week of June followed by a full prospecting program slated to begin the third week of June.
The property is underlain by a muscovite-bearing, S-type, peraluminous, fertile granite intruding metasediments occurring within 3 km of a subprovince boundary, and the Long Lac Fault and secondary structures provide excellent pathways for granitic melts and pegmatite deposition. Mapping in the Big Bang area in 1939 identified several instances of ‘granite' pegmatite. However, mapping during this era did not recognize, or document, various other ‘types' of pegmatites which contain important mineralogical information.
In addition to the 1939 mapped pegmatites, and as reported by the Company on February 15, 2023, "High Tide is pleased to report that it has observed pegmatite in the historic drill logs of the Big Bang Lithium Project. Pegmatites are typically an important source of valuable lithium ore such as spodumene. It was revealed that notable widths of pegmatite were intersected in three holes drilled in 1968. The Property is located approximately 70 km east of Rock Tech Lithium's advanced-stage Georgia Lake property and 275 km northeast of Thunder Bay, Ontario near the town of Geraldton.
Report "DD RPT 10 GAMSBY LAKE" found within Ontario Assessment File 42E11SW0101 indicates that all three diamond drill holes (total footage 545 ft or 166 m) drilled in July & August of 1968 by Chimo Option intersected pegmatite. At the time, Chimo Option was targeting the pegmatite zones for uranium and only assayed for U3O8 with results in the nil to trace range. Of particular interest is hole H1 that was drilled N55E at -45 degrees to a length of 362 feet (110 m) with approximately 58% of the core being logged as pegmatite. Pegmatite intercepts ranged from <1 m to plus 20 metres with the final 24 metres logged as, and ending in, pegmatite. The whereabouts of the drill core is currently unknown."
Labrador West Iron Project
The Labrador West Iron Project hosts a NI 43-101 inferred iron resource of 659 Mt @ 28.84% Fe and is comprised of one mineral licence (99 mineral claims), 2,475 hectares in size. The area was explored and drilled by Rio Tinto Exploration from 2010 to 2012, and then by High Tide Resources in 2020 & 2022. To date, approximately 7,500 m of core in 27 completed holes has been drilled on the property. Located less than 20 kilometres northeast of Labrador City, the Project is proximal to all the critical infrastructure required to explore and develop a major new iron deposit in the heart of the southern Labrador Trough. Experience by major producers operating in the Labrador Trough indicates that hematite and magnetite in this geological setting are readily recoverable using modern, industry standard beneficiation methods, that produce high purity, desirable iron concentrates.
Iron and the Western Labrador Trough Infrastructure Advantage
The Labrador Trough of western Labrador and adjoining Quebec constitutes Canada's primary iron producing district and is host to world-class deposits that have been mined for more than half a century. These have produced over 2 billion tonnes of iron ore to date and are considered to have very significant growth potential. The high quality of the deposits in the region allows for a wide range in product diversity, which includes premium fines, concentrate and pellet grades.
The Property is strategically located near the mining communities of Wabush and Labrador City in the province of Newfoundland & Labrador and Fermont in Quebec. The area is home to Champion Iron Ore's Bloom Lake Mine, ArcelorMittal's Mont-Wright Mine, Tacora Resources' Scully Mine, and Rio Tinto IOC's Carol Lake Mine.
The Wabush and Labrador City region is very well served with skilled labour and a highway as well as access to abundant low-cost hydroelectricity and a common carrier railway. The railway has 80 million tonnes per year of capacity for transport of iron products to the deep-water port of Sept Isles, Quebec, which provides year-round access to global markets.
About High Tide
High Tide is focused on and committed to the development of mineral projects critical to infrastructure development using industry best practices combined with a strong social license from local communities. High Tide owns a 100% interest in the Labrador West Iron Project which hosts a NI 43-101 Inferred iron resource of 659 Mt @ 28.84% Fe and is located adjacent to IOCC's Carol Lake Mine in Labrador City, NL. This resource is exposed at surface and was pit constrained for an open-pit mining scenario. The Technical Report was filed on SEDAR on April 6, 2023 and was authored by Ryan Kressall M.Sc., P.Geo, Matthew Herrington, M.Sc., P.Geo, Catharine Pelletier, P.Eng. and Jeffrey Cassoff P.Eng.
The Company also owns a 100% interest in the Lac Pegma copper-nickel-cobalt deposit located 50 kilometres southeast of Fermont, Quebec and is earning a 100% interest in the road accessible Clearcut Lithium Project located ~75 kilometres southwest of Val d'Or, Quebec and the road accessible Big Bang Lithium Project located ~275 kilometres northeast of Thunder Bay, Ontario. Majority shareholder Avidian Gold (TSX.V: AVG) controls approximately 30% of High Tide's outstanding shares.
Further details on the Company, including a NI 43-101 technical report on the Labrador West Iron property can be found on the Company's website at www.hightideresources.com.
Qualified Person
Clearcut Project: The technical information related to the Clearcut Project in this press release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 -- Standards of Disclosure for Mineral Projects, and reviewed and approved by Ludovic Bigot, professional geologist (OGQ - P.GEO No. 01655), a qualified person as defined by NI 43-101 guidelines.
Big Bang and Labrador Projects: The technical information contained in this news release has been approved by Steve Roebuck, P.Geo., Director, President and Interim CEO of High Tide, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
For further information, please contact:
Steve Roebuck
Director, President & Interim CEO
Mobile: (905) 741-5458
Email: sroebuck@hightideresources.com
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward looking information
This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, closing of the Agreement, exercising the Option, the acquisition of low cost and potentially high reward lithium projects, the ability to keep exploration costs low, expected access to regional lithium processing hubs, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the ability to anticipate and counteract the effects of COVID-19 pandemic on the business of the Company, including without limitation the effects of COVID-19 on the capital markets, commodity prices supply chain disruptions, restrictions on labour and workplace attendance and local and international travel, failure to receive requisite approvals in respect of the foregoing, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. 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, other than as required by law.
SOURCE: High Tide Resources Corp. |
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| To: LoneClone who wrote (21089) | 5/31/2023 2:38:59 PM | | From: LoneClone | | | | Chile wants to start lithium negotiations with Albemarle soon -minister
ca.finance.yahoo.com
Reuters
Tue, May 30, 2023 at 11:07 a.m. PDT·1 min read
SANTIAGO (Reuters) - Chile hopes to start negotiations soon with Albemarle as part of the government's plan to gain majority control of lithium mining projects, Mining Minister Marcela Hernando said on Tuesday.
The plan was launched in April to acquire control of new strategic projects and the company's current operations in the Atacama.
"They (Albemarle) have only verbally stated that their interest is to start negotiations as soon as possible," Hernando told reporters after a presentation of a report on lithium price and production projections.
In a statement sent to Reuters, the minister clarified that state-owned copper miner Codelco had been assigned to handle the talks and that the government would respect the current contract which ends in 2043. Codelco recently started talks with SQM about its contract which expires in 2030.
"Although I would like it to be as soon as possible, what is clear is that the State will fully respect the current contracts and the negotiations to reach a public-private partnership will take place in a period close to the end of the contract in 2043," Hernando said.
Albemarle declined to comment.
Albemarle said earlier this month it was open to renegotiating its lithium contract in Chile before 2043, but planned to do so towards the end of its contract and would seek access to more deposits in the South American country. |
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| To: LoneClone who wrote (21090) | 5/31/2023 2:48:30 PM | | From: LoneClone | | | | [Lithium] FE BATTERY METALS INITIATES BIOGEOCHEMSITRY SURVEY ON TRIX PROPERTY LOCATED IN THE GEORGIA LAKE AREA AND PROVIDES CORPORATE UPDATE
newswire.ca
First Energy Metals Limited 26 May, 2023, 19:43 ET
VANCOUVER, BC, May 26, 2023 /CNW/ - FE Battery Metals Ltd. (CSE: FE) (OTCQB: FEMFF) (WKN: A2JC89) ("FE Battery Metals" or the "Company) is pleased to announce the commencement of a 15-line kilometer biogeochemistry survey on the company's newly optioned Trix Lithium Property.
The ground survey will consist of collected up to 600 samples of tree bark, needles, and humus. The survey area has been selected based on previous geological investigations of fertile/lithium enriched parent granites in the area and the predicted source location of the spodumene bearing pegmatite boulders.
The samples will be sent in batches each week to Activation Laboratories (Actlabs) in Thunder Bay, ON and analysis will be finalized at Activation Laboratories in Ancaster, ON. The samples will be analyzed by Actlab's biogeochemistry 2D-ICPMS method for vegetation ash to report concentrations of 59 elements. The company will use the biogeochemistry data to assess lithium concentrations as well as pathfinder elements to define exploration targets for follow-up prospecting, bedrock trenching, and drill hole targeting.
Project Summary
The Property has since been expanded to encompass approximately 20,000 hectares located in a prolific lithium exploration area where several junior mining companies including Rock Tech Lithium, which has an established Lithium resource and advanced to a Pre-Feasiblity Study. The Trix Property road is accessible and is located 4km south of Rock Tech Lithium's MNW lithium deposit.
Historically, Ontario Geological Survey (OGS) geologists discovered a 10-tonne spodumene pegmatite boulder along with small spodumene-bearing fragments located in a creek on the Trix Lithium Property. Glacial geologists determined the potential source direction and displacement as 2 kilometers from the boulder. Due diligence sampling was undertaken in the claim region in the fall of 2022 and multiple assays returned over 1.0% lithium oxide (Li2O) with a high of 5.48% Li2O. The Company intends to carry out extensive surface sampling and other exploration work to find the source of the high-grade lithium occurrences.
The spodumene-bearing pegmatites of the Georgia Lake area were first discovered in 1955. Subsequent to the initial discovery, numerous claims were staked and additional lithium deposits were subsequently located. While some work was conducted in ensuing decades, the majority of historical exploration was completed in 1955-1958, however, recent advancements in the Electric Vehicle market has turned the Georgia Lake area into a very active exploration district.
Alex Pleson, P.Geo., Geological Consultant of the Company, and a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
Corporate Update
The Company is pleased to announce a non-brokered private placement of 2,000,000 flow-through (FT) shares for gross procesds of $ 1,250,000 by issuing: (i) Quebec FT shares at price of $0.64 cents per share; (ii) National FT shares at a price of $ 0.61 cents per share.
In connection to the above noted non-brokered private placement, a finder's fees may be paid to eligible finders in accordance with the policies of the CSE. Closing of the proposed private placement is subject to obtaining all required approvals, including from the CSE and any other regulatory approval. The securities will be subject to a four-month hold period plus one day under applicable securities laws.
Lastly, FE Battery Metals intends to grant incentive stock options and RSU's ( restricted share units) to certain directors and consultants of the Company in accordance with its stock option plan and RSU plan. A total of 1,500,000 stock options were issued and are exercisable at at price of $0.59 cents per share. The total of 550,000 RSU's were issued to certain directors and consultants of the Company.Both the stock options and RSU's vest immediately and are subject to the statutory four-month hold period plus one day under applicable securities laws.
ON BEHALF OF THE BOARD OF
FE BATTERY METALS CORP.
"Gurminder Sangha"
Gurminder Sangha
CEO & Director
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to obtain required approvals. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
SOURCE First Energy Metals Limited
 For further information: please contact the Company at: gsangha@febatterymetals.com or (604) 375-6005
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| To: LoneClone who wrote (21091) | 5/31/2023 3:36:15 PM | | From: LoneClone | | | | [Vanadium]
Voyager Metals and Cerrado Gold Announce Completion of Business Combination Transaction
accesswire.com
Wednesday, May 31, 2023 12:30 PM
Cerrado Gold Inc.
cerradogold.com
TORONTO, ON / ACCESSWIRE / May 31, 2023 / Voyager Metals Inc. ("Voyager") (TSXV:VONE) and Cerrado Gold Inc. ("Cerrado") (TSXV:CERT) (OTCQX:CRDOF) are pleased to announce the successful completion of the previously announced statutory plan of arrangement (the "Arrangement") under the Business Corporations Act (Ontario) pursuant to which Cerrado acquired all of the issued and outstanding common shares of Voyager (the "Voyager Shares") that it did not already own. The Arrangement was carried out pursuant to the terms of the arrangement agreement between Voyager and Cerrado dated March 7, 2023 (the "Arrangement Agreement") and became effective today, resulting in Voyager becoming a wholly-owned subsidiary of Cerrado. The Arrangement had received the requisite approval of Voyager shareholders and optionholders at a special meeting held on May 24, 2023. The Ontario Superior Court of Justice (Commercial List) issued a final order approving the Arrangement on May 26, 2023.
Pursuant to the Arrangement, each former shareholder of Voyager, other than Cerrado, is entitled to receive 1/6 of one (1) Cerrado share for each outstanding Voyager share (the "Consideration"). Further in connection with the Arrangement, holders of the Voyager options received options of Cerrado adjusted in accordance with the Exchange Ratio and subject to the terms of the Arrangement Agreement (the "Cerrado Replacement Options"), resulting in the grant of 1,266,649 Cerrado Replacement Options. The Cerrado Replacement Options are not exercisable by the holders thereof until shareholder and relevant TSX Venture Exchange approvals have been obtained in respect of such options and an amended Cerrado omnibus plan with higher limits is in place to accommodate the exercise of such options. Such approval is being sought at the annual and special meeting of Cerrado shareholders expected to be held on July 19, 2023. In addition, all outstanding common share purchase warrants of Voyager ("Voyager Warrants") have been adjusted, in accordance with their terms, and following the Arrangement, are exercisable for up to 1,779,755 Cerrado shares based on the Exchange Ratio.
In order to receive the Consideration in exchange for their Voyager shares, registered Voyager shareholders are reminded that they must complete, execute and submit the letter of transmittal (a copy of which was included in the meeting materials previously mailed to Voyager shareholders) to TSX Trust Company, in its capacity as depositary under the Arrangement, together with their certificate(s) or DRS advice(s) representing their Voyager shares, in accordance with the tender procedures described in the Circular (as defined below) and the letter of transmittal. Registered shareholders are encouraged to tender their Voyager shares as soon as possible in exchange for the Consideration. For any questions about completing the letter of transmittal in connection with the Arrangement, please contact TSX Trust Company at 416-342-1091 or by email at tsxtis@tmx.com. Beneficial shareholders should contact their intermediary and arrange for the intermediary to complete the necessary steps to ensure they receive the Consideration for their Voyager shares as soon as possible following the completion of the Arrangement.
Following completion of the Arrangement, the Voyager Shares are expected to be de-listed from the TSX Venture Exchange as soon as reasonably practicable, and in any event on or about June 5, 2023. In connection therewith, Voyager intends to submit an application to the applicable securities regulators to cease to be a reporting issuer and to terminate its public reporting obligations.
Further details regarding the Arrangement are set out in Voyager's information circular dated April 19, 2023, which is available on SEDAR ( www.sedar.com) under Voyager's issuer profile.
Advisors
Echelon Wealth Partners Inc. acted as financial advisor and Bennett Jones LLP acted as legal advisor to Voyager in connection with the Arrangement.
WeirFoulds LLP acted as legal advisor to Cerrado in connection with the Arrangement.
About Voyager Metals Inc.
Voyager Metals Inc. is a mineral exploration company headquartered in Toronto, Canada.The Company is focused on advancing its Mont Sorcier, Vanadium-rich, Magnetite Iron Ore Project, located just outside of Chibougamau, Quebec.
About Cerrado Gold Inc.
Cerrado Gold is a Toronto-based gold production, development, and exploration company focused on gold projects in South America. The Company is the 100% owner of both the producing Minera Don Nicolás mine in Santa Cruz province, Argentina, and the highly prospective Monte Do Carmo development project, located in Tocantins State, Brazil.
At Minera Don Nicolas, Cerrado is maximizing asset value through continued operational optimization and further production growth. An extensive campaign of exploration is ongoing to further unlock potential resources in our highly prospective land package in the heart of the Deseado Masiff.
At Monte Do Carmo, Cerrado is rapidly advancing the Serra Alta deposit through Feasibility and into production. Serra Alta is expected to be a high-margin and high-return project with significant exploration potential on an extensive and highly prospective 82,542-hectare land package.
For more information about Voyager, please visit the website at: www.voyagermetals.com. For more information about Cerrado, please visit the website at: www.cerradogold.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF VOYAGER METALS INC.
ON BEHALF OF THE BOARD OF DIRECTORS OF CERRADO GOLD INC.
Cautionary Note Regarding Forward-Looking Statements:
This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect', 'anticipate', 'continue', 'estimate', 'guidance', 'objective', 'ongoing', 'may', 'will' and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this news release contains forward-looking statements concerning the issuance of Cerrado Replacement Options and the requirement to receive Cerrado shareholder approval for the exercise thereof; the de-listing of Voyager shares from TSX Venture Exchange; and the intention to obtain an order to cease being a reporting issuer in the applicable jurisdictions and terminate its public reporting requirements.
Voyager and Cerrado believe the material factors, expectations and assumptions reflected in the forward-looking information and statements are reasonable at this time, but no assurance can be given that these factors, expectations and assumptions will prove to be correct. Forward-looking statements necessarily involve risks, including, without limitation, risks associated with the timing and ability of the Voyager to obtain all necessary regulatory and exchange approvals, as applicable, in order to de-list from the TSX Venture Exchange and cease being a reporting issuer; the timing and ability to obtain the requisite approval of Cerrado shareholders to allow for the exercise of the Cerrado Replacement Option; and the general regulatory environment in which Voyager and Cerrado operate.
The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Events or circumstances may cause actual results to differ materially from those predicted, as a result of the risk factors set out and other known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Voyager and Cerrado. In addition, forward looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information but which may prove to be incorrect. Such information may prove to be incorrect and readers are cautioned that the information may not be appropriate for other purposes. Although Voyager and Cerrado believe that the expectations reflected in such forward looking statements or information are reasonable, undue reliance should not be placed on forward looking statements because Voyager and Cerrado can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things, certain other risks detailed from time to time in the Voyager's and Cerrado's public disclosure documents including, without limitation, those risks identified in this news release and Circular, copies of which are available on the Voyager's SEDAR profile at www.sedar.com.
The forward-looking information and statements contained in this news release speak only as of the date of this news release, and Voyager and Cerrado do not assume any obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable laws.
Neither 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.
SOURCE: Cerrado Gold Inc. |
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| To: LoneClone who wrote (21092) | 5/31/2023 3:47:49 PM | | From: LoneClone | | | | [Lithium] Grid Metals Reports 1.13% Li2O over 10.7 m
accesswire.com
Wednesday, May 31, 2023 7:55 AM
Grid Metals Corp.
www.gridmetalscorp.com
Completes Resource Drilling at Donner Lake
TORONTO, ON / ACCESSWIRE / May 31, 2023 / Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) (the "Company") is pleased to announce final drill results from the completion of the Northwest Dyke drill program at the Donner Lake Lithium Property in Manitoba, Canada. The Company has now received all assays from the winter drilling program which will be incorporated into the upcoming maiden resource estimate expected before the end of Q2/23. SGS Canada has been retained by the Company to complete the estimate which will include both the Main and Northwest Dykes.
Highlights:
- Visible spodumene mineralization noted in all drill holes in the core area of the dyke.
- Northwest Dyke remains open at depth and along strike to the south (current strike length of approximately 715 meters).
- Apparent widths of up to 10 meters identified at 185 meters below surface.
- The Northwest Dyke is exposed at surface and recent resource drilling has projected the lithium bearing pegmatite to at least 300 meters below surface.
- Drilling highlights include:
- GDL 23-68: 5.9 m of 1.59% Li2O starting at 14.5 m
- GLD 23-74: 6.9 m of 1.56% Li2O starting at 59.1 m
- GDL 23-78: 10.7 m of 1.13% Li2O starting at 185.2 m
- GDL 23-81: 6.7 m of 1.60% Li2O starting at 54.2 m
- GDL 23-84: 5.0 m of 1.37% Li2O starting at 262.7 m
Robin Dunbar, Chief Executive Office of Grid Metals Corp., stated, "We are pleased to report the final assays from the recently completed Northwest Dyke drill program. The results highlight strong continuity of mineralization across the core area of the dyke with the pegmatite remaining open at depth and to the south along strike. We look forward to releasing a maiden resource estimate at Donner Lake before the end of this quarter that will include the 2023 resource drilling at both the Main and Northwest dykes."
Following on drilling competed in 2022, the 2023 NW Dyke resource drilling program included 19 holes for a total of 4,379 meters. Analytical results are shown in Table 1. The Company has rapidly progressed the Donner Lake Lithium Project to the resource estimation stage in just over a year since the start of drilling in February 2022. In total 66 resource drill holes were completed in 2023 for a total of 17,696 meters at the Main Dyke and Northwest Dyke.
 Table 1: Assay Results of the 2023 drilling at the Northwest Dyke - Donner Lake Lithium Project
True width of drill intercepts are between 50-80% of apparent width.
Project Plans
- SGS Canada Inc. has been retained by the Company to complete a resource estimate in compliance with National Instrument 43-101.
- The Company has completed an initial metallurgical testwork program at XPS Metallurgical Laboratories with results expected shortly.
- The Company plans to formally submit an Advanced Exploration Permit to the Manitoba government which would allow for the completion of a bulk sample at Donner Lake.
- The Company has also sent test sample work to the Tanco Mine to ensure there is metallurgical congruency for the pending bulk sample.
- The Company has a pre-production MOU with Tantalum Mining Corporation of Canada ("Tanco") (see October 17, 2023 press release). Discussions with Tanco are ongoing to enable toll mining of Donner Lake ore at the Tanco Mine site - one of two producing lithium mines in Canada.
- The Company has new geochemical and geophysical survey data to define several new exploration targets on the Property that will be validated and explored this upcoming field season prior to initial drill testing.
 Figure 1: Donner Lake Plan Map with 2023 Drill Hole and Cross Section Locations
 Figure 2: Northwest Dyke Cross Section (A - A') Apparent width of interval shown.
QAQC
The exploration program at Donner Lake is being supervised by Carey Galeschuk, P.Geo., who is an experienced lithium geologist with nearly three decades of exploration experience in the Bird River Greenstone Belt with Grid Metals, Tantalum Mining Corporation of Canada and other companies. Grid Metals applies best practice quality assurance and quality control ("QAQC") protocols on all it's exploration programs. For the Donner Lake Lithium Project drilling program, core was logged and sampled at the Company's core facility located on the Makwa Property. Generally, 1.0 metre sample lengths were used. Samples were bagged and tagged and then transported by secure carrier to the Actlabs (Thunder Bay) laboratory for sample preparation and analysis for lithium, cesium, tantalum and selected major and trace element abundances using a sodium peroxide fusion total digestion method followed by ICP-OES and ICP-MS analysis. The Company is using two lithium + rare metal certified reference materials ("CRMs") and an analytical blank for the program to monitor analytical accuracy and check for cross contamination between samples.
Mr. Galeschuk has reviewed and approved the contents of this press release with respect to NI 43-101 reporting guidelines.
About Grid Metals Corp.
Grid Metals is focused on both lithium and Ni-Cu-PGM in the Bird River area approximately 150 km north east of Winnipeg Manitoba. The Donner Lake Lithium Property is a 75% owned property subject to a joint venture agreement. In addition to activity at Donner Lake the Company has the Falcon West Lithium Property located southeast of Winnipeg and a PEA stage Ni-Cu-PGM-Co project (Makwa-Mayville) undergoing exploration and development activity.
On Behalf of the Board of Grid Metals Corp.
For more information about the Company please see the Company website at www.gridmetalscorp.com or contact:
Robin Dunbar - President, CEO & Director Telephone: 416-955-4773 Email: rd@gridmetalscorp.com
David Black - Investor Relations Email: info@gridmetalscorp.com
We seek safe harbour. This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements include the Company's closing of the proposed financial transactions, sale of royalty and property interests. the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward- looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, metallurgical risk, currency fluctuations, fluctuations in the price of nickel, cobalt, copper and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
SOURCE: Grid Metals Corp. |
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