| To: LoneClone who wrote (22674) | 6/17/2024 1:18:40 PM | | From: LoneClone | | | | [Vanadium] Anfield Receives Drill Program Permit Application Approval for Slick Rock
ca.finance.yahoo.com
Anfield Energy Inc.
Mon, June 17, 2024 at 4:00 a.m. PDT
ANLDF
0.00%
VANCOUVER, British Columbia, June 17, 2024 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce that it has received final approvals for its drill permit application to commence a 20-hole, 20,000-foot rotary drill program at its Slick Rock uranium and vanadium project, located in San Miguel County, Colorado. Permits approvals included the Bureau of Land Management, the Colorado Division of Resources Mining and Safety, and a Special Use Permit from San Miguel County, Colorado to allow access via county roads for the drilling project. The permits allow drilling between the months of June and September. Anfield will use local contractors to complete the drilling.
Anfield expects to commence the drill program in the third quarter of 2024. This is a crucial step in Anfield’s plan to secure a large mine permit for Slick Rock as the Company looks towards future uranium and vanadium production.
Corey Dias, Anfield’s CEO commented: “We are very pleased to commence development at Slick Rock as this project is integral to our hub-and-spoke uranium and vanadium production strategy. The 20-hole drill program, which will start during the third quarter of 2024, will allow us to both verify and upgrade our known resource at site and meet the criteria to secure a large mine permit from the appropriate agency. Our aim is to have both the Slick Rock and Velvet-Wood mines ready for production ahead of the restart of the Shootaring Canyon mill, with initial feed ready for transport once the mill is ready to receive it.”
The drill program will be used to collect geological information related to uranium mineralization in the area. Activities include minor repairs to the access roads, preparation of drill sites, drilling with mud rotary drilling equipment, data collection and reclamation of drill sites. Three or four of the drill holes will be converted into groundwater monitoring and observation wells to establish baseline aquifer parameters.
Qualified Persons
Douglas L. Beahm, P.E., P.G., principal engineer at BRS Inc., is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical content of this news release.
About Anfield
Anfield is a uranium and vanadium development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its assets. Anfield is a publicly traded corporation listed on the TSX-Venture Exchange (AEC-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on its conventional asset centre, as summarized below:
Arizona/Utah/Colorado – Shootaring Canyon Mill
A key asset in Anfield’s portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring Canyon Mill is strategically located within one of the historically most prolific uranium production areas in the United States, and is one of only three licensed uranium mills in the United States.
Anfield’s conventional uranium assets consist of mining claims and state leases in southeastern Utah, Colorado, and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield’s conventional uranium assets include the Velvet-Wood Project, the Frank M Uranium Project, the West Slope Project, as well as the Findlay Tank breccia pipe. A NI 43-101 PEA has been completed for the Velvet-Wood Project. The PEA is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves and, resultantly, there is no certainty that the included preliminary economic assessment would be realized. All conventional uranium assets are situated within a 200-mile radius of the Shootaring Mill.
Technical Disclosure
Table 1. Anfield’s existing conventional uranium-vanadium project portfolio resources.
Project
| Location
| Classification
| Tons (kt)
| Uranium
Grade
(% U3O8)
| Contained
Uranium
(Mlbs U3O8)
| Vanadium
Grade
(% V2O5)
| Contained
Vanadium
(Mlbs V2O5)
| Velvet-Wood
| Utah
| M & I
| 811
| 0.29
| %
| 4.6
| -
|
| -
|
|
| Inferred
| 87
| 0.32
| %
| 0.6
| 0.404
| %
| 7.3
| West Slope
| Colorado
| Indicated
| 1,367
| 0.197
| %
| 5.4
| -
|
| -
|
|
| Inferred
| 1,367
| -
|
| -
| 0.984
| %
| 26.9
|
|
| Historic*
| 630
| 0.31
| %
| 3.9
| 1.59
| %
| 20.0
| Slick Rock
| Colorado
| Inferred
| 1,760
| 0.224
| %
| 7.9
| 1.35
| %
| 47.1
| Frank M
| Utah
| Historic*
| 1,137
| 0.101
| %
| 2.3
| -
|
| -
| Findlay Tank
| Arizona
| Historic*
| 211
| 0.226
| %
| 1.0
| -
|
| -
| Date Creek/Artillery Peak
| Arizona
| Historic*
| 2,602
| 0.054
| %
| 2.8
|
|
| Marquez-Juan Tafoya
| New Mexico
| Historic*
| 7,100
| 0.127
| %
| 18.1
|
|
|
* The Company’s Qualified Person has not done sufficient work to classify these historic estimates as current mineral resources and Anfield is not treating such historical resources as current mineral resources.
Velvet-Wood: The PEA for Velvet-Wood/Slick Rock was authored by Douglas L. Beahm, P.E., P.G. Principal Engineer, of BRS Inc., Harold H. Hutson, P.E., P.G., Carl D. Warren, P.E., P.G., and Terence P. (Terry) McNulty, P.E., D. Sc., of T.P. McNulty and Associates Inc. (May 6, 2023). Mineral resources are not mineral reserves and do not have demonstrated economic viability in accordance with CIM standards. GT cut-off varies by locality from 0.25%-0.50%.
West Slope: NI 43-101 resource estimate for the JD-6, JD-7, JD-8 and JD-9 properties, completed by BRS Inc. (effective March 2022); Historic resource estimate for the SR-11, SR-13A, SM-18 N, SM-18 S, LP-21 and CM-25 properties, completed by Behre Dolbear for Cotter Corporation (August 2007). Indicated and Inferred resources using GT cut-off of 0.1 ft% eU3O8; historic resources using cut-off of 0.05% U3O8.
Slick Rock: The PEA for Velvet-Wood/Slick Rock was authored by Douglas L. Beahm, P.E., P.G. Principal Engineer, of BRS Inc., Harold H. Hutson, P.E., P.G., Carl D. Warren, P.E., P.G., and Terence P. (Terry) McNulty, P.E., D. Sc., of T.P. McNulty and Associates Inc. (May 6, 2023). Mineral resources are not mineral reserves and do not have demonstrated economic viability in accordance with CIM standards. GT cut-off varies by locality from 0.25%-0.50%.
Frank M: Historic Technical Report for Frank M, prepared for Uranium One Americas, was authored by Douglas L. Beahm, P.E., P.G. Principal Engineer of BRS Inc., and Andrew C. Anderson, P.E., P.G. Senior Engineer/Geologist of BRS Inc., dated June 10, 2008. Frank M historic resource used a GT cut-off of 0.25%.
Findlay Tank: Historic Technical Report for Findlay Tank, prepared for Uranium One Americas, was authored by Douglas L. Beahm, P.E., P.G. Principal Engineer of BRS Inc., dated October 2, 2008. Findlay Tank historic resource used a grade cut-off of 0.05% eU3O8.
Artillery Peak: Artillery Peak Exploration Project, Mohave County, Arizona, 43-101 Technical Report, authored by Dr. Karen Wenrich, October 12, 2010. GT cut-off varies by locality from 0.01%-0.05%.
Marquez-Juan Tafoya: The Historical Technical Report, Preliminary Economic Assessment, for Marquez-Juan Tafoya, prepared for Uranium Energy Corporation, was authored by Douglas L. Beahm, P.E., P.G., Principal Engineer of BRS Inc., and Terence P. McNulty, P.E., PhD, McNulty & Associates, dated June 9, 2021. The mineral resources are reported at a 0.60 GT cut-off.
On behalf of the Board of Directors
ANFIELD ENERGY INC.
Corey Dias, Chief Executive Officer
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.
Contact:
Anfield Energy, Inc.
Clive Mostert
Corporate Communications
780-920-5044
contact@anfieldenergy.com
www.anfieldenergy.com
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”. STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT PURELY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” “PLAN” OR “EXPECT” OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT ANNUAL AND QUARTERLY REPORTS AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED FUTURE CAPITAL REQUIREMENTS AND THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY’S EXPLORATION EFFORTS WILL SUCCEED OR THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. |
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| To: LoneClone who wrote (22675) | 6/17/2024 1:41:09 PM | | From: LoneClone | | | | AMERICAN SALARS ACQUIRES POCITOS LITHIUM SALAR PROJECT WITH INFERRED LITHIUM CARBONATE MINERAL RESOURCE
ca.finance.yahoo.com
American Salars Lithium Inc.
Mon, June 17, 2024 at 12:01 a.m. PDT·7 min read
ASALF
0.00%
VANCOUVER, BC, June 17, 2024 (GLOBE NEWSWIRE) -- AMERICAN SALARS LITHIUM INC. ("AMERICAN SALARS" OR THE "COMPANY") (CSE: USLI, OTC: ASALF, FWB: Z3P, WKN: A3E2NY) announces it entered into an agreement with Recharge Resources Ltd. (“Recharge” or “the Vendor”) (CSE: RR) to acquire a 100% interest in the Pocitos 1 Lithium Salar Project (“Pocitos 1”) consisting of 800 Hectares (“Ha”) near the town of Pocitos in Salta, Argentina. Terms of the (“Transaction”) are outlined below.
The project has an NI 43-101 Mineral Resource Estimate (“MRE”) prepared in December 2023, consisting of an inferred 760,000 tonne lithium carbonate equivalent (“LCE”). The MRE is contained on the Pocitos 1 block (800 Ha) in combination with the neighbouring Pocitos 2 block (532 Ha). All of the drilling that makes up the basis of the MRE, on the combined Pocitos 1 and Pocitos 2 blocks, occurred on the Pocitos 1 block that is being acquired by American Salars.
The MRE was prepared by WSP Australia Pty Ltd. (“WSP”) that has extensive lithium resource experience working on many of the major lithium resources globally. The MRE will be updated to reflect the proportional lithium resource on the Pocitos 1 block and additional upcoming work on porosity and permeability will also enhance the updated MRE.
R. Nick Horsley, CEO & Director states, “We are excited to add the Pocitos 1 lithium salar project to our Argentina lithium portfolio. We now control both the Candela II lithium salar project with an inferred LCE of 457,000 tonnes and the Pocitos 1 project, which in combination with its neighbouring Pocitos 2 block, hosts 760,000 tonnes LCE. We look forward to working with our technical team to update the NI 43-101 mineral resource estimate to reflect our Pocitos 1 concession which represents approximately 60% of the combined ground used in the existing mineral resource estimate and hosts all of the drilling to date.”
NI 43-101 Mineral Resource Estimate Highlights:
- Highest Lithium value tested using packer sampling system was 169ppm Lithium at a depth 363m.
- The MT geophysics survey has discovered a large area to the west with a resistivity of 0.4O.m and a depth of more than 1km.
- Ekosolve™
DLE technology pilot plant test work at University of Melbourne achieved 94.9% extraction efficiency with brines at an average lithium concentration of 86 ppm lithium of which 80.76 ppm was recovered.
- Significant brine flow was recorded in 2018 wells PO1 and PO2 and brine and gas in PO3 drilled in November 2022.
- The company will start a new drill/production well program when the permits are issued by the Salta Mines Department.
Furthermore, the Vendor announced on May 28th, 2024, that it had completed its environmental baseline assessment report that will be used for a production environmental impact assessment (“EIA”). This is a key step towards the development and potential production at Pocitos 1. The report is titled "Environmental and Social Baseline report for the Pocitos 1 and 2 concessions on the Pocitos Salt Flats." The report was the culmination of four months work by E & C Asociados, a specialist environmental consulting group.
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.
The Transaction
American Salars has entered into an agreement with Recharge Resources Ltd., whereby American Salars is acquiring a 100% interest in the Pocitos 1 lithium salar project by issuing to the Vendor 5,000,000 common shares subject to a 24-month escrow and assuming an outstanding tax liability of the Vendor estimated to be no more than USD $250,000 as well as a payable to WSP for the Mineral Resource Estimate at a cost of AUS $80,000.
The Vendor has agreed to a 24-month escrow with releases every six months. The vendor has agreed to a further voluntary escrow whereby they have agreed not to sell more then 10,000 shares per day in any given trading day and cumulatively no more than 50,000 shares in a normal business week. The Vendor has further agreed to proxy all votes to management of American Salars.
At closing, the Purchaser shall issue to the Vendor 2,500,000 bonus warrants (the “Bonus Warrants”), with each Bonus Warrant entitling the Vendor to acquire one common share of the Purchaser at an exercise price of CAD $0.75 for a period of five years. The Bonus Warrants will be exercisable by the Vendor only upon the Pocitos 1 property having a Measured and Indicated and Inferred combined (“M+I+I”) resource of 1,000,000 tonnes LCE, and subject to the receipt of a “technical report” (as that term is defined in section 1.1 of NI 43-101) confirming that the Property has the required M+I+I resources (as such terms are defined in section 1.2 of NI 43-101).
The Pocitos 1 property is subject to a 2.5% net smelter royalty (“NSR”) of the minerals produced on a FOB basis from the property, the Company can purchase 1.5% (60%) of the NSR for CAD $1,500,000.
The transaction is subject to a finder’s fee.
About the Pocitos 1 Lithium Salar Project
The Pocitos 1 project is located approximately 10km from the township of Pocitos where there is gas, electricity, and accommodation. Pocitos 1 is approximately 800 hectares (1,977 acres) and is accessible by road. Collective exploration since 2017 totals over US$2.0 million developing the project, including surface sampling, trenching, TEM and MT geophysics and drilling three wells that had outstanding brine flow results. Locations for immediate follow up drilling have already been designed and identified for upcoming exploration.
Lithium values of 169 ppm from drill hole PCT22-03 packer test assayed from laboratory analysis conducted by Alex Stewart were recorded during the project’s December 2022 drill campaigns. 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. A NI 43-101 report has been released on the Pocitos 1 project.
Ekosolve Ltd a DLE technology company was able to produce 99.8% purity lithium carbonate, where extraction was above 94% of the contained lithium in the brine i.e. 158.86ppm of lithium would have been recovered from 169ppm.
WSP Australia has completed an update of the NI 43-101 report initially written by Phillip Thomas QP in June 2023 and estimated on an inferred basis using a block model with 6% and 14% porosity for the clay and sand lithologies respectively and a MRE of 760,000 tonnes of LCE on the combined Pocitos 1 (800 Ha) and neighbouring Pocitos 2 block (532 Ha).
Figure 1. Pocitos 1 & Candella 2 Claim blocks and surrounding area
Click here to view image
About American Salars Lithium Inc.
About American Salars Lithium Inc. American Salars Lithium Inc. is an exploration company focused on exploring and developing high-value battery metals projects to meet the demands of the advancing electric vehicle market. Its flagship project is the Candela II Lithium Salar in Argentina which features a NI 43-101 inferred resource.
All Stakeholders are encouraged to follow the Company on its social media profiles on LinkedIn, Twitter, TikTok, Facebook and Instagram.
On Behalf of the Board of Directors,
“R. Nick Horsley”
R. Nick Horsley, CEO
For further information, please contact:
American Salars Lithium Inc.
Phone: 604.880.2189
E-Mail:info@americansalars.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 American Salar’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 American Salars 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 American Salars results of exploration or review of properties that American Salars does acquire. These forward-looking statements are made as of the date of this news release and American Salars 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. |
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| To: LoneClone who wrote (22676) | 6/17/2024 1:42:46 PM | | From: LoneClone | | | | [Lithium]
Q2 Metals Intercepts Multiple Wide Intervals Including a Cumulative of 194.8 Metres of Spodumene Pegmatite in Hole CS24-10 at the Cisco Lithium Property, James Bay, Quebec, Canada
newsfilecorp.com
June 17, 2024 3:05 AM EDT | Source: Q2 Metals Corp.
Highlights:
- A total of four (4) holes for approximately 1017.1 metres (m) have been drilled at the Cisco discovery zone (CO1) confirming and extending previously encountered mineralization.
- Drill hole CS24-007 intersected a total of eleven (11) individual spodumene pegmatite intervals, for a total cumulative width of 100.1 m.
- Drill hole CS24-009 encountered five (5) spodumene pegmatite intervals, for a cumulative width of 117.1 m.
- Drill hole CS24-010 encountered five (5) spodumene-mineralized intervals that were greater than 10 m wide. The sum of all intervals in the hole is 194.8 m, with the widest individual interval measuring 86.6 m.
- Mapping & sampling program has discovered eight (8) new spodumene pegmatite occurrences. Fifteen (15) individual outcropping zones have now been uncovered across an area spanning 1.1 by 1.7 kilometres (km).
Vancouver, British Columbia--(Newsfile Corp. - June 17, 2024) - Q2 Metals Corp. (TSXV: QTWO) (OTCQB: QUEXF) (FSE: 458) ("Q2" or the "Company") is pleased to announce an update from its 2024 exploration program at the Cisco Lithium Property (the "Property" or the "Cisco Property") located within the greater Nemaska traditional territory of the Eeyou Istchee James Bay region of Quebec, Canada.
The Company commenced its 2024 drill program at the Cisco Property (the "Spring 2024 Drill Campaign") in May, with the primary objective of confirming and expanding upon the mineralized zone where the Property vendors worked in 2023 (now referred to as the "CO1 Zone"). A total of four (4) drill holes have been completed at the CO1 Zone for approximately 1017.1 m, intersecting several wide pegmatite intervals as outlined below. All holes intercepted pegmatites with visual indications of spodumene mineralization identified.
"We added the Cisco Property to our portfolio because we believed it had district-scale potential," said Alicia Milne, Q2 Metals President, and CEO. "We are extremely pleased with the early results of our initial exploration work and the results have validated our belief."
The CO1 Zone has now been defined for a strike length of approximately 300 m both in outcrop and with drilling. Additional drilling will test the continuation of the mineralization at CO1 at depth to the CO3 Zone, which is located approximately 300 to 400 m to the southwest, suggesting that the mineralization could extend at least 750 m.
"The first few drill holes completed at Cisco in 2024 have far exceeded my expectations. The spodumene pegmatite intervals are continuing down dip around the previously drilled holes, and our most recent hole (CS24-010) testing the strike extension of the CO1 zone has encountered a very wide mineralized zone," said Neil McCallum, Q2 Metals VP of Exploration. "The outcrop mapping and sampling of the region has indicated that the Cisco Property has significant potential. The possibility that several of these occurrences are linked at depth is a very significant and very real possibility that we plan to test as the field season continues."
Figure 1 Q2 Metals VP Exploration Neil McCallum and CEO Alicia Milne on the main outcrop at CO1
To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com
Concurrent with the drill campaign, mapping and sampling field work is also underway to provide guidance on the extent of the lithium mineralization at Cisco.
Spring 2024 Drill Campaign
The four drill holes reported on herein were primarily focused on expanding the previously intersected mineralization and suggest that the pegmatite body is trending roughly 45 to 60 degrees (in a northeast-southwest) direction. The mineralized intervals in all the holes drilled thus far are not representative of the true width and the modelled pegmatite zone is being refined with every additional hole. Future drill holes will have a modified azimuth in order to optimize the definition of the mineralization.
The pegmatite intervals (greater than 2 metres) of the holes CS24-007 to 010 are reported in detail (Table 1) together with a summary map of the drilling (Figure 2). The summary of holes completed to date which includes basic location and dip/azimuth details is included below in Table 2.
Drilling is ongoing, with the next planned hole (CS24-011) to be approximately 90 m to the southwest of hole 010.
Figure 2. Map of Drilling at Cisco Property
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Drill Hole CS24-007 (azimuth 000-north, dip -60°) collared approximately 65 m south of previously drilled holes CS23-05/06 and intersected a total of 11 individual spodumene pegmatite intervals, three of which were greater than 10 m wide, for a total cumulative width of 100.1 m. Drill hole CS23-06, drilled by the Property vendors in 2023, encountered 115.4 m at 1.40% Li2O within a cumulative width of five separate pegmatite intervals.
Drill hole CS24-008 (azimuth 000, dip -60°) collared approximately 110 m south of previously drilled CS24-04 and encountered a total of two (2) spodumene pegmatite intervals, for a cumulative width of 29.7 m.
Drill hole CS24-009 (azimuth 000, dip -50°) collared approximately 60 m west of hole 007 encountered a total of five (5) spodumene pegmatite intervals, for a cumulative width of 117.1 m.
Drill hole CS24-010 (azimuth 000, dip -88°) collared at the same location as hole 009 and encountered a total of 10 spodumene pegmatite intervals, for a cumulative width of 194.8 m. Five (5) of the spodumene pegmatite intervals were greater than 10 m wide with the widest individual interval measuring 86.6 m.
Figure 3. Spodumene pegmatite intercept from drill hole CS-24-010
To view an enhanced version of this graphic, please visit:
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Table 1. Summary of Spodumene Pegmatite intervals at CO1 Zone, Cisco Property
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Cautionary Statement: The presence of pegmatites does not confirm the presence of lithium (spodumene or other lithium minerals). Pegmatites are fractionated coarse grained igneous rocks commonly associated with lithium mineralization; however, many pegmatites do not contain mineralization. The presence of any mineralization can only be confirmed with assaying.
The geological team has completed the core cutting and logging of hole CS24-007 to 010 and the samples have been dispatched to the SGS Canada preparation laboratory located in Val-d'Or, QC for mineral analysis to confirm the presence of lithium.
Table 2. Summary of Drill Hole Collar Information, Cisco Property
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Mapping & Sampling Field Program
Initial field work, including mapping and rock sampling, has been undertaken by the Company to provide guidance on the extent of the lithium mineralization at Cisco. The field crews started at the CO1 Zone where the vendors of the Cisco Property had undertaken sampling and drilling in 2022/2023 and have expanded throughout the Property.
In addition to the CO1 Zone, eight (8) new spodumene occurrences have been discovered for a total of 15 spodumene pegmatite zones.
To date, a total of 76 pegmatite rock samples have been collected and have been sent to SGS. The results will be reported as they are received by the Company.
Figure 4. Extent of spodumene pegmatite mineralized zones at Cisco Property
To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com
Youdin-Rouillier Drilling of the Eeyou Istchee Territory, James Bay, Quebec is contracted to complete the diamond drilling with Dahrouge Geological Consulting Ltd. of Edmonton, Alberta managing the drill program and property-wide geological exploration.
About the Cisco Property
The Cisco Property is comprised of 222 mineral claims and is 11,374 hectares in size. It is located less than 10 km east of the Billy Diamond Highway, and is approximately 150 km north of Matagami, a small town that contains the closest rail link to much of James Bay. The Property lies within the greater Nemaska Community lands of the Eeyou Istchee Territory, James Bay, Quebec.
The Property is situated along the Frotet Evans Greenstone Belt, comprised of a volcanic package dominated by mafic to felsic metavolcanic rocks, of the southern James Bay Lithium District, the same belt that hosts the Sirmac and Moblan lithium deposits, located 130 km and 180 km away, respectively.
Sampling, Analytical Methods and QA/QC Protocols
All rock samples collected and drill core samples were shipped to SGS Canada's preparation facility in Val D'Or, Quebec, for standard sample preparation (code PRP92) which includes drying at 105°C, crush to 90% passing 2 mm, riffle split 500 g, and pulverize 85% passing 75 microns. The pulps will be shipped by air to SGS Canada's laboratory in Burnaby, BC, where the samples will be homogenized and subsequently analyzed for multi-element (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (code GE_ICM91A50).
A Quality Assurance / Quality Control protocol following industry best practices was incorporated into the sampling program.
Management cautions that prospecting surface rock samples and associated results, as discussed herein, are selective by nature and therefore may not necessarily be fully representative of the mineralized horizon sampled.
Qualified Person
Neil McCallum, B.Sc., P.Geol, is a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and has reviewed the technical information in this news release. Mr. McCallum is a director and VP Exploration for Q2.
About Q2 Metals Corp
Q2 Metals is a Canadian mineral exploration company focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada, that includes both its 100-per-cent-owned Mia Lithium Property and the Cisco Lithium Property.
The Cisco lithium property is located approximately 150 km north of Matagami, Que., and comprises 222 mineral claims and is 11,374 ha in size. The property has district-scale potential with an already identified mineralized zone and a discovery drill result of 115.4 metres of 1.40 percent lithium oxide (hole CS-23-05), cumulatively in five separate pegmatites.
The Company's exploration advancement at its 8,668-hectare flagship Mia lithium property is focused on the more than 10-kilometre-long Mia trend which is host to both the Mia 1 and Mia 2 lithium occurrences and 11 other mineralized zones along trend.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Alicia Milne
President & CEO
Alicia@Q2metals.com
Jason McBride
Corporate Communications
Jason@Q2metals.com
Telephone: 1 (800) 482-7560
E-mail: info@Q2metals.com
WWW.Q2Metals.com
Follow the Company: Twitter, LinkedIn, Facebook, and Instagram
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regard the geological prospects of the Company's properties and the future exploration endeavors of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date specified in such statement. Forward looking statements in this news release include, but are not limited to, drilling results on the Cisco Property and inferences made therefrom,the belief that the Cisco Property has district-scale potential, that the outcrop mapping and sampling of the region indicates the Cisco Property has significant potential and the possibility that several of these occurrences are linked at depth is a very significant and very real possibility that the Company plans to test, the possibility that mineralization at the CO1 Zone could extend at least 750 m, the focus of the Company's current and future exploration and drill programs, the scale, scope and location of future exploration and drilling activities, the Company's expectations in connection with the projects and exploration programs being met, 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 those in forward-looking statements include failure to obtain necessary approvals, variations in ore grade or recovery rates, changes in project parameters as plans continue to be refined, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected in the forward-looking statements. Additional risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for its recently completed fiscal period, which is available under Company's SEDAR profile at www.sedarplus.ca.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
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.
 SOURCE: Q2 Metals Corp. |
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| To: LoneClone who wrote (22677) | 6/17/2024 1:44:14 PM | | From: LoneClone | | | | Atlas Lithium Doubles the Size of Its Lithium Exploration Footprint in Brazil; Provides Exploration Update
newsfilecorp.com
June 17, 2024 8:00 AM EDT | Source: Atlas Lithium Corporation
HIGHLIGHTS
- Atlas Lithium has more than doubled its lithium exploration portfolio in Brazil to approximately 539 km² (approximately 133,294 acres). Most of the new claims are in the promising Doce River and Mucuri Valleys, an exciting new lithium jurisdiction in Brazil that has been relatively underexplored for lithium.
- Atlas Lithium's dense media separation plant to produce lithium concentrate has finished trial assembly and is being prepared for shipment to site in Q3 2024, with the goal of commissioning and commencing production at the flagship Neves Project in Q4 2024.
- The Company is progressing on a Definitive Feasibility Study (DFS) for the Neves Project, which is expected to be completed and released prior to commencing initial production. The DFS will incorporate an updated Mineral Resource Estimate (MRE) encompassing the Anitta 1, Anitta 2, and Anitta 3 deposits.
Boca Raton, Florida--(Newsfile Corp. - June 17, 2024) - Atlas Lithium Corporation (NASDAQ: ATLX) ("Atlas Lithium" or "Company"), a leading lithium exploration and development company, is excited to announce significant progress towards production of lithium concentrate in Q4 2024 as well as a substantial expansion of its lithium mineral rights footprint in Brazil. The Company is moving rapidly towards commencing production at its flagship Neves project in Q4, 2024. In addition, Atlas Lithium has more than doubled its lithium exploration portfolio in Brazil to approximately 539 km² with the addition of multiple promising mineral rights in the Doce River and Mucuri Valleys, new frontiers for lithium in Brazil. The Company's initial exploration campaign within these new districts is located near Governador Valadares, a city with approximately 280,000 inhabitants and an important regional center in the state of Minas Gerais, with favorable infrastructure and access roads, and ~ 350 km (~ 217 miles) from the Port of Vitoria, making it highly attractive for lithium exploration and development. Atlas Lithium believes that it has the largest claim ownership position of any listed company in this new lithium frontier providing the Company with a highly strategic first-mover advantage.
With these additions, Atlas Lithium believes that it has the largest lithium exploration footprint in Brazil now totaling 53,942 hectares (approximately 539 km2 or 133,294 acres). To put it into perspective, such an area is greater than 9 times that of Manhattan Island in New York.
"Our new mineral rights near Governador Valadares provide access to an exciting new lithium frontier in Brazil that has been relatively untapped beyond gemstone mining," commented James Abson, Chief Geology Officer at the Company. "This region of Minas Gerais state hosts dozens of documented lithium-rich pegmatites, presenting an opportunity for us."
Nick Rowley, Vice President of Business Development at Atlas Lithium, added, "Pushing towards becoming a producer of lithium concentrate is our top focus in the short term. We have been also working on significantly increasing our overall mineral rights holdings to solidify our leading position in Brazil, which is attracting increasing interest globally as a hub for hard-rock lithium production."
Valadares Project
Current exploration campaign at the Valadares Project is focused on initial areas situated approximately 50 km from the city of Governor Valadares City, being strategically located within the renowned Eastern Brazilian Pegmatite Province (EBPP), one of the largest pegmatite provinces in the world.
The EBPP is home to some world-class, economically significant lithium-bearing LCT pegmatites. The newly acquired Atlas Lithium permits lie within the highly prospective Joao Pinto schist units, which have been intruded by the Galiléia tonalites and other granitic bodies, including numerous LCT ("lithium-cesium-tantalum") pegmatites.
According to the CPRM (the Brazilian Geological Survey), four lithium mineralized pegmatite occurrences have been identified within the Company's permits, two of which have been confirmed to contain spodumene. Other reported lithium minerals include lepidolite and amblygonite, along with accessory minerals such as colombo-tantalite. During initial reconnaissance mapping and sampling, the Company's exploration team discovered an additional six spodumene-bearing pegmatites, further highlighting the potential of these new claims.
One particularly promising spodumene-bearing pegmatite, estimated to be at least 20m wide and flat-lying, has been extensively mined by artisanal miners for tourmalines using underground galleries (Figure 1). First-pass samples of spodumene crystals, taken from within these galleries, returned Li2O grades greater than 3.23% Li2O, which is the upper limit of such assay method. Subsequently, the galleries were laser scanned in 3D to provide a map of the pegmatite dimensions (Figure 2), aiding in the planning of the future scout drill collar locations. Currently, a detailed map is being compiled, highlighting the positions of spodumene crystals and spodumene-enriched zones that will further guide an upcoming drilling campaign.
Figure 1: Atlas Lithium exploration geologist inside the prior underground artisanal mining gallery at the Valadares Project
To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com
Figure 2: LiDAR DTM topography map (terrestrial laser scan) showing prior artisanal mining pegmatite galleries in relation to 1st-pass spodumene sampling results as well as detailed spodumene mapping points.
To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com
Within these galleries, numerous zones of large spodumene crystals, some exceeding 20cm in width and 70cm in length, were discovered by the Company's geologists (Figures 3, 4, 5). The presence of lithium has been confirmed by UV fluorescence and by the SciAps LIBS Analyzer.
Figure 3: Spodumene zone visible within the prior artisanal mining gallery at the Valadares Project.
To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com
Figure 4: Spodumene zone visible within the prior artisanal mining gallery at the Valadares Project.
To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com
Figure 5: Spodumene zone (in pink) within the prior artisanal mining gallery at the Valadares Project under UV light fluorescence.
To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com
High-resolution drone Orthomosaic imagery and LiDAR topography data has been acquired and is being analyzed. Additionally, drone magnetics and radiometric geophysics surveys have been commissioned to assist with drill targeting.
Coronel Murta Project
The Company's Coronel Murta Project is situated approximately 50 km northwest of the Neves Project and contains numerous pegmatite swarms of the Eastern Brazilian Pegmatite Province (EBP). The current priority target area is in the general area where at least two spodumene-bearing pegmatite occurrences have been reported by CPRM, the Brazilian Geological Service. One of these, the Barro do Salinas pegmatite, lies within the Company's tenement.
Atlas Lithium has commissioned a study to identify potential pegmatite targets (outcrop and workings) using Sentinel-2 multi-band spectral imagery and other high-resolution satellite imagery. The study identified several north-west to south-east trending targets, which align with the trends of the known spodumene-bearing pegmatites in the area. The Company's exploration team has completed the initial geological mapping of this permit and has started a detailed soil sampling campaign designed to highlight any lithium or LCT-pegmatite pathfinder element trends cutting across the permit. Preliminary XRF element analysis has already identified anomalous concentrations of cesium in certain of these soil samples, indicating the likely presence of other LCT pegmatites on the property.
Furthermore, Atlas Lithium has commissioned a comprehensive suite of high-resolution drone surveys over the permit area, including LiDAR, RGB, and multi-spectral imaging. These surveys will provide valuable data to support detailed mapping efforts and aid in the identification and delineation of pegmatite bodies. Upon completion of such studies, the Company will conduct a high-resolution drone magnetics geophysics survey utilizing its in-house equipment. Building on the insights gained from these initial exploration activities, Atlas Lithium intends to expand its scout drilling campaign to this high-priority area.
Neves Project
The Company's geological team continues to actively drill within the Neves Project area. Previously discovered mineralized pegmatites in the Neves Project were initially located with the help of historic artisanal mines, outcroppings of pegmatite, or shallow sub-crop unearthed by trenching Li in soil anomalies. To date, Atlas Lithium has mapped and sampled over 84 pegmatite outcrops within the Neves. In an effort to expedite the exploration of the sizeable Neves claims, in late 2023, the Company embarked on a systematic exploration campaign designed by James Abson, the Atlas Lithium's Chief Geology Officer.
The Project area has now been covered by:
- Detailed hyperspectral satellite and drone LiDAR mapping to aid in faster pegmatite discovery;
- Geological mapping and rock sampling to improve target prioritization;
- Closely spaced soil sampling grids, with 4,599 samples taken to date, to highlight Li (>100ppm threshold) and LCT pegmatite pathfinder anomalies for drill testing;
- High-resolution drone geophysics surveys, including magnetics and radiometrics, to assist with mapping and drill targeting.
The comprehensive data sets have generated several highly promising coincident and parallel targets (Figure 6). One notable example is a linear lithium anomaly with a strike length of 1.2 km, which coincides with the Anitta 2 mineralized pegmatite. While some of these targets may represent extensions of the known mineralized Anitta trends, others could potentially indicate entirely new, untested pegmatite discoveries, particularly in the southern region of Neves.
The practical application of this new lithium soil anomaly information is exemplified at Anitta 1. Previously, an unexplained anomaly existed to the east of the drilled orebody. Guided by this anomaly, recent additional drilling has now uncovered the up-dip extension of Anitta 1 and a parallel orebody immediately to the east. These discoveries are expected to contribute to the project's overall mineralized pegmatite tonnage, demonstrating the effectiveness of the exploration approach in identifying and delineating high-quality lithium mineralization.
Figure 6: Soil sampling lithium anomaly map in relation to mapped pegmatites (in pink), the mineralized Anitta pegmatites, topography, and structural geophysics data.
To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com
It is important to recognize that drilled lithium-mineralized sections of pegmatites can extend up to 150m along strike beyond the termination of the surface lithium anomaly, as observed in the case of Anitta 2. In certain areas, it is probable that these pegmatites continue undetected from the surface along the same strike direction, particularly beneath higher hills where the cover and weathering profiles may be thicker. The Company's exploration team is currently evaluating the potential use of other less mobile LCT markers, such as Cs, Sn, and Ta, to identify new anomalous trends or extensions that warrant further investigation.
Furthermore, the majority of the Anitta pegmatites exhibit a close association with magnetic lows and NNE-SSW structural lineaments. This valuable information will enable the Atlas Lithium team to refine its approach to future exploration targeting activities. These studies will include more detailed follow-up work, such as infill soil grids, trenching, and drilling, to better delineate and characterize the identified targets.
James Abson, Chief Geology Officer at Atlas Lithium, commented, "Armed with this large and significant new set of systematic exploration data, varying from anomalous soil geochemistry to geophysical anomalies to geophysical structures and signatures structures related to known mineralized pegmatites, we are advancing our knowledge of the Neves Project. In fact, Atlas Lithium's exploration team has begun a scout drilling program to drill out the newly identified targets using the quicker and more cost-effective RC drilling method to test any new high-interest coincident anomalies previously untested."
"In parallel with the geological efforts, and to better align this work with the Company's objective of production in Q4 2024, the decision has been made to upgrade the PEA to a Definitive Feasibility Study, and to release it prior to production," stated Brian Talbot, Chief Operating Officer and director at Atlas Lithium. "Our goal remains to transform Atlas Lithium into a low-cost lithium producer in Brazil, leveraging our extensive tenement portfolio to develop multiple projects across the country."
About Atlas Lithium Corporation
Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in Brazil's Lithium Valley, a well-known lithium district in the state of Minas Gerais. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel, rare earths, titanium, graphite, and copper. The Company also owns equity stakes in Apollo Resources Corp. (private company; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements are based upon the current plans, estimates and projections of Atlas Lithium and its subsidiaries and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events, and regulatory changes; availability of capital; Atlas Lithium's ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.
Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled "Risk Factors" in the Company's Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 27, 2024. Please also refer to the Company's other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company's views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.
Investor Relations:
Brian Bernier
Vice President, Investor Relations
+1 (833) 661-7900
bwb@atlas-lithium.com
api.newsfilecorp.com
@Atlas_Lithium
 SOURCE: Atlas Lithium Corporation |
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| To: LoneClone who wrote (22678) | 6/17/2024 1:45:47 PM | | From: LoneClone | | | | [REE]
Neotech Metals Samples 3.26% TREO at Surface, Begins Summer Exploration Program at its British Columbia TREO Project
newsfilecorp.com
June 17, 2024 4:00 AM EDT | Source: Neotech Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - June 17, 2024) - Neotech Metals Corp. (CSE: NTMC) (OTC Pink: NTMFF) (FSE: V690) ("Neotech" or the "Company"), a mineral exploration company, is pleased to announce the return of assay results from its 100% wholly-owned TREO project in British Columbia, Canada, and the commencement of a follow-up exploration program to expand the known zones of mineralization.
Last week, the Company concluded its regional program at the Foothills project, collecting over 695 samples. These samples included biogeochemical, soil, stream, and rock composites. In addition, magnetic susceptibility measurements and ground-based radiometric surveys were undertaken. Samples have been submitted to various labs, and assays are pending.
TREO Project Highlights
Sample 69233, a grab sample taken from outcrop during last year's regional sampling program, is described as "finely bedded limestone with secondary biotite and calcite veins and disseminated iron-oxide and chlorite alteration" returned 3.26% TREO.* Additional samples within the area also returned anomalous values, providing valuable insight and strong direction for this summer's program.
Soil sample coverage is now ongoing to verify and expand known zones of elevated REE values by covering existing historical samples and targeting strong magnetic and radiometric trends from a 2010 survey. Additionally, outcrop mapping and prospecting are also underway to explore for further mineralized zones.
TREO is situated 85 km northeast of Prince George, British Columbia. The property is road-accessible and has railway infrastructure just 25 km north of the main discovery, along with power approximately 55 km to the west by road.
Methodology and Quality Assurance/Quality Control
The analytical work reported herein (sample preparation and analysis) was performed by Activation Laboratories Ltd. ("Actlabs") at their Kamloops, B.C. facilities. Actlabs is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory independent of Neotech Metals and the QP. Samples were dried to 60 degrees Celsius, sieved to keep particles smaller than -177 µm, and analyzed using multi-element Fusion ICP-MS via lithium-borate fusion to determine individual REE content (Actlabs' 4LITHO analysis code). Neotech follows industry-standard procedures for the work carried out on the TREO Project, with a quality assurance/quality control ("QA/QC") program. Samples, including blanks, duplicates, and certified reference material, were systematically inserted both by the Company and Actlabs for analysis. Neotech detected no significant QA/QC issues during the data review.
*TREO (Total Rare-Earth Oxides) has been used to express the combined total of Rare-Earth oxides and is the summation of Ce2O3 + La2O3 + Pr2O3 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb2O3 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3.
Qualified Person
Technical Information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Ike Osmani, P.Geo., an independent Qualified Person, has reviewed and approved all of the data and calculations made for this news release.
For more information, please contact:
Reagan Glazier, Chief Executive Officer
E-mail: info@neotechmetals.com
Telephone:+1 403-815-6663
About Neotech Metals Corp.
Neotech Metals Corp. is a mineral exploration company dedicated to discovering and developing valuable mineral resources in promising regions around the world. With a strong commitment to environmental stewardship and sustainable practices, Neotech is positioned to make a positive impact while maximizing the potential of its exploration properties.
The Company is based in Vancouver, B.C., and owns 100% of its TREO Rare Earth Element Property, located 85 km northeast of Prince George, British Columbia, and 100% of its Foothills project located near the Monashee Mountain Range. The Company also holds options on the EBB nickel-cobalt property in British Columbia, Canada.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are based on certain expectations and assumptions, including future plans and objectives of Neotech Metals Corp. Forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those anticipated in such statements. The Company undertakes no obligation to update or revise forward-looking Information, whether as a result of new Information, future events, or otherwise, except as required by law.
 SOURCE: Neotech Metals Corp. |
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| To: LoneClone who wrote (22679) | 6/18/2024 11:30:37 AM | | From: LoneClone | | | | [Lithium]
Arctic Fox Begins High Resolution Airborne Magnetic Survey at Pontax North
thenewswire.com
VANCOUVER, BRITISH COLUMBIA (June 18, 2024) – TheNewswire – Arctic Fox Lithium Corp. (CSE: AFX / FSE: O5K) (the “Company”) is pleased to announce that it has begun a high resolution airborne magnetic survey over its Pontax North Lithium property in James Bay.
The helicopter-borne system includes two laser pumped magnetic sensors providing 1,000 measurements per second (1,000 Hz) from a “stinger” mounted at the front of a Guimbal G2 light helicopter. The survey will be flown with lines 50 metre apart and 500 metre control lines spacing and at a minimum survey drape elevation of 15 m to 20m above the ground depending on the overall topography.
Airborne Magnetic Survey Highlights
- Enhanced Aeromagnetic Resolution: The survey will be completed at 50 m line spacing and at a minimum survey drape elevation of 15 m above the ground. The advantage of a single continuous survey is it won’t require merging multiple data sets with different resolutions.
- Increased Geological Understanding: The survey will provide Arctic Fox with much better definition of the important geological units and structures on the property
Harry Chew, President and Chief Executive Officer of Arctic Fox states: “We are pleased to be executing this high-resolution magnetic survey as it will serve as a cornerstone to our upcoming summer exploration program. With this state-of-the-art high resolution magnetic survey, we will be able to update the geology map and identify key stratigraphic contacts and structures for targeted exploration.
2024 Airborne Magnetic Survey
The high resolution airborne magnetic survey over the Pontax North Lithium property will be completed by Novatem Inc. based out of Mont Saint-Hilaire, Québec. The project is located 13 kilometres south-west of the KM 381 Relais in James Bay.
The survey will cover a total area of 16.3 km2 and include an estimated 404 total line-kilometres. Novatem will be providing preliminary processing and quality control of the geophysical data on site as well as the preparation and supply of preliminary and final products.
The identification of pegmatites belonging to the favourable Causabiscau Suite in the northern part of the Pontax North Property during the 2023 prospection, with coincident Be-Cs-Ta-Nb-Rb anomalies up to 100 times the average concentration of the upper continental crust and lithium anomalies up to 5.3 times that of Li, are a definitive indicator of the rare-element potential of the system and presents a significant opportunity for targeted exploration. We also expect from this high resolution airborne magnetic survey to highlight additional mineralized pegmatite dykes below overburden.
The Company also wishes to announce that it will no longer be proceeding with its options on the Delta Lake and Spius properties. Management feels that the Company should focus its resources on the Pontax North Property at this time as promising geological units and structures have been identified on the property.
About Arctic Fox Lithium Corp.
Arctic Fox Lithium Corp. is a junior mineral exploration company focused on the acquisition and development of mineral properties containing battery, base and precious metals.
The Company’s 2,859-hectare Pontax North Lithium Project (“Pontax North”) is located 12 km south of Allkem Ltd. (ASX/TSX:ALLKEM) (“Allkem”) James Bay Lithium Project (Proven & Probable Reserves of 37.3 Mt @ 1.27% Li2O ; Measured & Indicated Resources of 54.3 Mt @ 1.30% Li2O - NI 43-101 Technical Report dated September 29, 2023) and 12 km north of Stria Lithium Inc.’s (CSE:SRA) Pontax Lithium Project (non NI 43-101 conformable Inferred Resource of 10.1 Mt at 1.04% Li2O - Stria Press Release dated August 14, 2023), located in northern Québec, approximately 130 km east of James Bay and the Cree Nation’s Eastmain community.
The northern portion of Pontax North contains a lithium prospective zone in a similar geological environment to Allkem’s project. The Causabiscau Suite which hosts the Cyr lithium deposit is indeed characterized by the abundance of S-type granitic pegmatite, a lithology known for its Be, Li, Cs, Nb, and Ta potential. Beryl (a beryllium silicate mineral) has been reported by Quebec MERN geologists in several outcrops within this zone. The Causabiscau Suite appears strongly underexplored despite its recognized lithium potential.
References to adjacent properties:
12 km North: Allkem Ltd. James Bay Lithium:
The technical report entitled “NI 43-101 Technical Report Feasibility Study James Bay Lithium Project Quebec, Canada” prepared by G Mining Services, SLR Consulting, Wave International and WSP Canada and dated September 29, 2023.
12 km South: Stria Lithium Inc. (Pontax Lithium Project):
https://strialithium.com/exploration/pontax-project/
* This news release contains information about adjacent properties on which Arctic Fox has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties.
The technical information contained within this News Release has been reviewed and approved by Benjamin
Mougin, P. Géo, M. Sc. and Qualified Person as defined in National Instrument 43-101 Standards of Disclosure
for Mineral Projects
For further information, please contact:
Harry Chew, President, CEO
Phone: (604) 689-2646
On behalf of the Board of Directors,
“Harry Chew”
Harry Chew
President & CEO
Arctic Fox Lithium Corp.
Twitter: about:blank
LinkedIn: about:blank
Facebook: about:blank
Instagram: about:blank
YouTube: about:blank
Neither the 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 press release.
Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address any activities and events or developments that Arctic Fox Lithium Corp. ("Arctic Fox") expects to occur, are forward-looking statements. Although Arctic Fox believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements relating to: potential benefits of the fieldwork described in this press release; and the future potential of and exploration on the properties described in this press release. Factors that could cause actual results to differ materially from those in forward looking statements include the failure to complete the fieldwork on the timing and terms as contemplated or at all; uncertainty with respect to the results of future exploration and the ability to conduct any exploration activities on the properties described in this press release; market prices; disruptions relating to the COVID-19 pandemic; and continued availability of capital and financing and general economic, market or business conditions. These statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions; in order to conduct anticipated exploration activities; and that the exploration compilation work described in this press release will be completed as anticipated. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Arctic Fox does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
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| To: LoneClone who wrote (22680) | 6/18/2024 1:20:30 PM | | From: LoneClone | | | | [Lithium] Q Precious & Battery Metals Receives Permits to Drill VMS and Lithium Pegmatite Targets La Corne South Project, Quebec
accesswire.com
Tuesday, 18 June 2024 09:12 AM
VANCOUVER, BC / ACCESSWIRE / June 18, 2024 / Q Precious and Battery Metals Corp. ("QMET" or the "Company") is pleased to announce that the company has received all of the necessary permits to drill on their La Corne South project located north of Val d'Or, Quebec. The drilling equipment is currently being mobilized to the site in preparation for drilling at site number 1.
As previously released, TMC Geophysique (TMC) completed deep-penetrating Pulse-EM -Time Domain Electromagnetic (TDEM) surveying to cover target zones delineated by geologic assessment and rock sampling. On the property the TMC Geophysical TDEM survey identified a group of strong conductive anomalies. In places these are coincident rock exposures that contain significant percentages of pyrite and pyrrhotite. The geology along the trend is interpreted to have potential for Volcanogenic Massive Sulphide (VMS) mineralization (see News Release dated 2022-08-07). The zone of interest also displays magnetic features derived from QMET 2021 surveys. The geophysical survey results combined with the geology and rock sampling provide compelling targets for drill testing.
In the western part of the La Corne South claims, the TMC-TDEM survey identified six localized anomalies that are roughly grouped around the Boily-Bérubé mineral occurrence (see News Release dated July 12, 2022). This is also the area where QMET exploration obtained rock samples that returned elevated values for silver, copper and zinc. The TDEM features are modelled as relatively shallow-seated bodies easily tested by diamond drilling.
The access permit and authorization to undertake impact-causing exploration work approval (ATI) allow for construction of 10 drill pads with associated access roads. QMET plans an initial 1,000 metres of diamond drilling from the permitted drill pads, primarily testing VMS targets at depths ranging from 50 to 200 metres below surface (as modelled by the TDEM survey).
The VMS targets are to be tested for multiple elements including silver, copper, zinc, and nickel. A number of VMS deposits have been located within 15 Kms of the QMET property including the Barvallée, the Belfort (Roymont), the Vendome #1 (Mogador), and the Projet Laflamme (from Système d'information géominière of Québec, SIGEOM). These are listed as multi-element deposits that include copper, zinc, silver and gold. The presence of these deposits, peripheral to the QMET properties, is not a direct indicator of the mineralization potential on QMET claims; however, their discovery does indicate that the geologic setting of the region contains polymetallic VMS potential.
QMET is planning to begin access construction for drilling in the next week.
QMET exploration programs undertaken in Quebec are supervised by Dr. Mathieu Piché, OGQ, with office located north of Val d'Or. He is also a QMET company director.
Cautionary Statement
This press release contains forward-looking statements based on assumptions as of that date. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; fluctuations in the prices of commodities; operating hazards and risks; competition and other risks and uncertainties, including those described in the Company's Prospectus dated September 8, 2017 available on www.sedar.com. Accordingly, actual and future events, conditions, and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
On behalf of the Board of Directors
Richard Penn
CEO
(778) 384-8923
SOURCE: Q Precious and Battery Metals Corp. |
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| To: LoneClone who wrote (22681) | 6/19/2024 12:32:57 PM | | From: LoneClone | | | | [Lithium] Azimut and SOQUEM cut an outstanding interval of 1.62% Li2O over 158.0 m, including 2.20% Li2O over 89.65 m, Galinée Lithium Property, James Bay region, Quebec
ca.finance.yahoo.com
Exploration Azimut Inc
Wed, June 19, 2024 at 3:30 a.m. PDT·9 min read
AZMTF
0.00%
LONGUEUIL, Quebec, June 19, 2024 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF) is pleased to report excellent new lithium results from the second phase of diamond drilling on the Galinée Property (the “Property”) in the Eeyou Istchee James Bay region of Quebec, Canada.
Fourteen (14) holes were drilled during this second phase, for a total of 3,203.65 metres, including two extended holes (GAL23-012ext and -013ext) and two that were abandoned (GAL24-019 and -027). The visual results from this phase were previously reported in the press releases of April 18 and May 8, 2024, as were the analytical results for one hole (GAL24-020: 2.68% Li2O over 54.6 m). All assays have now been received and are reported in this release.
The results of this campaign confirm a wide and high-grade lithium zone on the Property, which now appears to be one of the most significant lithium pegmatite discoveries in the James Bay region. Drilling will continue this summer. A comprehensive property-scale till sampling and prospecting program is underway to identify additional drilling targets. Azimut and its partner SOQUEM Inc. have ranked the Galinée Property as one of their top priorities for 2024. Azimut is the operator of the work program.
HIGHLIGHTS ( see Figures 1 to 6, Tables 1 and 2)
• Hole GAL24-018:
| 1.66% Li2O over 40.45 m (from 159.6 m to 200.05 m), including:
|
| 2.61% Li2O over 21.60 m (167.1 m to 188.7 m)
|
| 0.95% Li2O over 14.40 m (209.0 m to 223.4 m)
| • Hole GAL24-022:
| 2.53% Li2O over 25.90 m (from 135.1 m to 161.0 m), including:
|
| 3.16% Li2O over 19.75 m (135.1 m to 154.85 m)
| • Hole GAL24-023:
| 2.02% Li2O over 32.23 m (from 104.77 m to 137.0 m), including:
|
| 3.28% Li2O over 6.73 m (130.27 m to 137.0 m)
| • Hole GAL24-025:
| 1.62% Li2O over 158.0 m (from 207.85 m to 365.85 m), including:
|
| 2.20% Li2O over 89.65 m (207.85 m to 297.5 m), including:
|
| 3.33% Li2O over 29.6 m (267.9 m to 297.5 m)
| • Hole GAL24-027A:
| 2.50% Li2O over 7.50 m (from 183.0 m to 190.5 m)
| • Hole GAL23-12ext:
| 2.00% Li2O over 13.05 m (from 355.7 m to 368.75 m)
|
| 1.44% Li2O over 4.10 m (from 377.5 m to 381.6 m)
|
| 2.43% Li2O over 1.15 m (from 386.85 m to 388.0 m)
|
The true widths of the drill intervals are undetermined at this stage. Holes GAL 23-013ext, GAL24-019A, -021, -024 and -026 display weak or no mineralization. Holes GAL24-019 and -027 were abandoned due to drilling difficulties. Several intervals of visually confirmed mineralization containing amphibolite intercalations were reported in the press release of April 18, 2024 (holes GAL24-18, -20, -22 to -25). Hole -25 presents a 17.45-metre-long intercalation that is weakly mineralized (from 300.0 to 317.45 m).
The previously reported significant assays from drilling phases 1 and 2 include:
• Hole GAL23-001
| 2.48% Li2O over 72.7 m (from 139.5 m to 212.2 m), including:
|
| 3.38% Li2O over 18.0 m (174.0 m to 192.0 m) and
|
| 3.27% Li2O over 12.7 m (199.5 m to 212.2 m)
|
| 1.30% Li2O over 7.0 m (from 323.4 m to 330.4 m)
| • Hole GAL23-003:
| 1.56% Li2O over 36.6 m (from 194.4 m to 231.0 m), including:
|
| 2.41% Li2O over 21.2 m (195.5 m to 216.7 m)
| • Hole GAL23-009:
| 2.13% Li2O over 44.1 m (from 120.3 m to 164.4 m), including:
|
| 3.35% Li2O over 13.0 m (150.4 m to 163.4 m)
|
| 1.13% Li2O over 16.5 m (from 346.5 m to 363.0 m), including:
|
| 1.69% Li2O over 9.2 m (346.5 m to 355.7 m)
| • Hole GAL23-011:
| 1.71% Li2O over 37.0 m (from 209.0 m to 246.0 m), including:
|
| 2.95% Li2O over 15.0 m (212.0 m - 227.0 m), including:
|
| 5.13% Li2O over 6.0 m (216.5 m to 222.5 m)
| • Hole GAL23-012:
| 1.31% Li2O over 41.3 m (from 188.0 m to 229.3 m), including:
|
| 2.68% Li2O over 4.5 m (189.5 m to 194.0 m) and
|
| 2.75% Li2O over 12.7 m (210.6 m to 223.3 m)
| • Hole GAL23-014:
| 1.63% Li2O over 17.5 m (from 233.0 m to 250.5 m), including:
|
| 2.56% Li2O over 5.2 m (233.0 m to 238.2 m)
| • Hole GAL24-020:
| 2.68% Li2O over 54.60 m (from 89.25 m to 143.85 m), including:
|
| 2.26% Li2O over 8.50 m (89.25 m to 97.75 m) and
|
| 3.48% Li2O over 35.85 m (108.0 m to 143.85 m)
|
Material Progress for the Galinée Discovery
- Currently, the lithium zone has a strike length of 700 metres and trends roughly east-west. It remains largely open on the Property to the east and south, with the thickness and grade variabilities expected for these types of pegmatitic bodies. The mineralized zone at Galinée likely represents the southern extension of the Adina deposit on the adjacent project belonging to Winsome Resources Ltd. Figure 2 displays the limits of the pit shell constraining the resources disclosed by Winsome in their press release of May 28, 2024.
- At Galinée, one of the potential mining scenarios could involve constructing a ramp to access the mineralized body, given the subhorizontal geometry of the pegmatite body at a relatively shallow depth. Initial drilling data indicate a shallow dip to the south, from subhorizontal to 15 degrees. Additional intercepts from the current program show that some pegmatite bodies dip to the north, suggesting that the pegmatite system consists of coalescing branches with variable dips. Hole GAL24-020 intersected at least one of the north-dipping branches at shallow depth, returning very high-grade lithium intervals starting at a vertical depth of 80 metres ( see Figure 5).
- Spodumene crystals generally range from a few centimetres to half a metre long but occasionally reach gigantic sizes (up to 1.65 m). The colour ranges from whitish to greyish-beige or greenish-beige. Other associated minerals include quartz, white feldspar, tourmaline and, less frequently, garnet, apatite, lepidolite, tantalite and maybe pollucite. Holmquistite, a typical lithium-bearing amphibole formed at the margins of lithium-rich pegmatites, is also observed. Dark green amphibolite is the dominant host rock.
- Significant grades have also been obtained for the following critical elements: cesium, tantalum, gallium and rubidium. Peak values of 3.59% Cs2O, 1410 ppm Ta2O5, 333 ppm Ga2O3, and 2.17% Rb2O are noted.
- SGS Canada (Lakefield, Ontario) has been retained to conduct preliminary metallurgical tests on the mineralization.
Property-scale Exploration
Azimut and SOQUEM consider Galinée’s lithium potential to be largely underexplored. A comprehensive prospecting phase is underway to identify drill targets in highly prospective areas with a cumulative length of 60 kilometres.
The region is widely considered an emerging lithium district. Winsome Resources Ltd published a mineral resource estimate for the Adina Property, and other companies are rapidly advancing prospects on surrounding properties (see Azimut press releases of June 13 and October 23, 2023; January 9 and February 23, 2024).
Drilling Contract and Analytical Protocols
Miikan Drilling Inc., a majority Cree-owned company, has been contracted for the current program. Miikan Drilling is owned by local communities and Chibougamau Diamond Drilling Ltd of Chibougamau (Quebec). Drilling is conducted with a core diameter of BTW.
Core samples are sent to ALS Laboratories in Montreal (Quebec) for ICP multi-element analysis (laboratory codes: ME-MS61, ME-MS89L, ME-ICP82b). Azimut applies industry-standard QA/QC procedures to its drilling programs. All batches sent for analysis include certified reference materials, blanks and field duplicates.
About the Galinée Property
The Galinée project (649 claims, 335 km2) is a 50/50 joint venture between Azimut and SOQUEM, operated by Azimut. The 36-kilometre-long property lies about 50 kilometres north-northwest of the Renard diamond mine (Stornoway Diamonds (Canada) Inc.) and 60 kilometres south of the Trans-Taiga Road, an all-season regional highway.
Qualified Person
Dr. Jean-Marc Lulin (P.Geo.) prepared this press release as the Company’s qualified person within the meaning of National Instrument 43-101. Rock Lefrançois (P.Geo.), Vice President of Exploration, also reviewed the content of this press release.
About SOQUEM
SOQUEM Inc., a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. A proud partner and ambassador for developing the province’s mineral wealth, SOQUEM relies on innovation, research, and strategic minerals to be well-positioned for the future.
About Azimut
Azimut is a leading mineral exploration company with a solid reputation for target generation and partnership development. The Company holds the largest mineral exploration portfolio in Quebec. Its wholly owned flagship project, the Elmer Gold Project, has advanced to the resource stage with a strong exploration upside. Azimut also advances the Galinée Lithium Project, a significant discovery made in JV with SOQUEM. The Company controls strategic land positions for copper-gold, nickel and lithium in Quebec.
Azimut uses a pioneering approach to big data analytics (the proprietary AZtechMine™ expert system) enhanced by extensive exploration know-how. The Company’s competitive edge is based on systematic regional-scale data analysis. Azimut maintains rigorous financial discipline and a strong balance sheet, with 85.4 million shares issued and outstanding.
Contact and Information
Jean-Marc Lulin, President and CEO
Tel.: (450) 646-3015
Jonathan Rosset, Vice President Corporate Development
Tel: (604) 202-7531
info@azimut-exploration.com www.azimut-exploration.com
Cautionary note regarding forward-looking statements
This press release contains forward-looking statements, which reflect the Company’s current expectations regarding future events related to the drilling results from the Galinée Property. To the extent that any statements in this press release contain information that is not historical, the statements are essentially forward-looking and are often identified by words such as “consider”, “anticipate”, “expect”, “estimate”, “intend”, “project”, “plan”, “potential”, “suggest” and “believe”. The forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Many factors could cause such differences, particularly volatility and sensitivity to market metal prices, the impact of changes in foreign currency exchange rates and interest rates, imprecision in reserve estimates, recoveries of gold and other metals, environmental risks including increased regulatory burdens, unexpected geological conditions, adverse mining conditions, community and non-governmental organization actions, changes in government regulations and policies, including laws and policies, global outbreaks of infectious diseases, including COVID-19, and failure to obtain necessary permits and approvals from government authorities, as well as other development and operating risks. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this document. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, other than as required to do so by applicable securities laws. The reader is directed to carefully review the detailed risk discussion in our most recent Annual Report filed on SEDAR+ for a fuller understanding of the risks and uncertainties that affect the Company’s business.
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. |
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| To: LoneClone who wrote (22682) | 6/19/2024 12:45:01 PM | | From: LoneClone | | | | [Vanadium] Anfield Receives Drill Program Permit Application Approval for Slick Rock
ca.finance.yahoo.com
Anfield Energy Inc.
Mon, June 17, 2024 at 4:00 a.m. PDT·8 min read
ANLDF
-3.65%
VANCOUVER, British Columbia, June 17, 2024 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce that it has received final approvals for its drill permit application to commence a 20-hole, 20,000-foot rotary drill program at its Slick Rock uranium and vanadium project, located in San Miguel County, Colorado. Permits approvals included the Bureau of Land Management, the Colorado Division of Resources Mining and Safety, and a Special Use Permit from San Miguel County, Colorado to allow access via county roads for the drilling project. The permits allow drilling between the months of June and September. Anfield will use local contractors to complete the drilling.
Anfield expects to commence the drill program in the third quarter of 2024. This is a crucial step in Anfield’s plan to secure a large mine permit for Slick Rock as the Company looks towards future uranium and vanadium production.
Corey Dias, Anfield’s CEO commented: “We are very pleased to commence development at Slick Rock as this project is integral to our hub-and-spoke uranium and vanadium production strategy. The 20-hole drill program, which will start during the third quarter of 2024, will allow us to both verify and upgrade our known resource at site and meet the criteria to secure a large mine permit from the appropriate agency. Our aim is to have both the Slick Rock and Velvet-Wood mines ready for production ahead of the restart of the Shootaring Canyon mill, with initial feed ready for transport once the mill is ready to receive it.”
The drill program will be used to collect geological information related to uranium mineralization in the area. Activities include minor repairs to the access roads, preparation of drill sites, drilling with mud rotary drilling equipment, data collection and reclamation of drill sites. Three or four of the drill holes will be converted into groundwater monitoring and observation wells to establish baseline aquifer parameters.
Qualified Persons
Douglas L. Beahm, P.E., P.G., principal engineer at BRS Inc., is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical content of this news release.
About Anfield
Anfield is a uranium and vanadium development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its assets. Anfield is a publicly traded corporation listed on the TSX-Venture Exchange (AEC-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on its conventional asset centre, as summarized below:
Arizona/Utah/Colorado – Shootaring Canyon Mill
A key asset in Anfield’s portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring Canyon Mill is strategically located within one of the historically most prolific uranium production areas in the United States, and is one of only three licensed uranium mills in the United States.
Anfield’s conventional uranium assets consist of mining claims and state leases in southeastern Utah, Colorado, and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield’s conventional uranium assets include the Velvet-Wood Project, the Frank M Uranium Project, the West Slope Project, as well as the Findlay Tank breccia pipe. A NI 43-101 PEA has been completed for the Velvet-Wood Project. The PEA is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves and, resultantly, there is no certainty that the included preliminary economic assessment would be realized. All conventional uranium assets are situated within a 200-mile radius of the Shootaring Mill.
Technical Disclosure
Table 1. Anfield’s existing conventional uranium-vanadium project portfolio resources.
Project
| Location
| Classification
| Tons (kt)
| Uranium
Grade
(% U3O8)
| Contained
Uranium
(Mlbs U3O8)
| Vanadium
Grade
(% V2O5)
| Contained
Vanadium
(Mlbs V2O5)
| Velvet-Wood
| Utah
| M & I
| 811
| 0.29
| %
| 4.6
| -
|
| -
|
|
| Inferred
| 87
| 0.32
| %
| 0.6
| 0.404
| %
| 7.3
| West Slope
| Colorado
| Indicated
| 1,367
| 0.197
| %
| 5.4
| -
|
| -
|
|
| Inferred
| 1,367
| -
|
| -
| 0.984
| %
| 26.9
|
|
| Historic*
| 630
| 0.31
| %
| 3.9
| 1.59
| %
| 20.0
| Slick Rock
| Colorado
| Inferred
| 1,760
| 0.224
| %
| 7.9
| 1.35
| %
| 47.1
| Frank M
| Utah
| Historic*
| 1,137
| 0.101
| %
| 2.3
| -
|
| -
| Findlay Tank
| Arizona
| Historic*
| 211
| 0.226
| %
| 1.0
| -
|
| -
| Date Creek/Artillery Peak
| Arizona
| Historic*
| 2,602
| 0.054
| %
| 2.8
|
|
| Marquez-Juan Tafoya
| New Mexico
| Historic*
| 7,100
| 0.127
| %
| 18.1
|
|
|
* The Company’s Qualified Person has not done sufficient work to classify these historic estimates as current mineral resources and Anfield is not treating such historical resources as current mineral resources.
Velvet-Wood: The PEA for Velvet-Wood/Slick Rock was authored by Douglas L. Beahm, P.E., P.G. Principal Engineer, of BRS Inc., Harold H. Hutson, P.E., P.G., Carl D. Warren, P.E., P.G., and Terence P. (Terry) McNulty, P.E., D. Sc., of T.P. McNulty and Associates Inc. (May 6, 2023). Mineral resources are not mineral reserves and do not have demonstrated economic viability in accordance with CIM standards. GT cut-off varies by locality from 0.25%-0.50%.
West Slope: NI 43-101 resource estimate for the JD-6, JD-7, JD-8 and JD-9 properties, completed by BRS Inc. (effective March 2022); Historic resource estimate for the SR-11, SR-13A, SM-18 N, SM-18 S, LP-21 and CM-25 properties, completed by Behre Dolbear for Cotter Corporation (August 2007). Indicated and Inferred resources using GT cut-off of 0.1 ft% eU3O8; historic resources using cut-off of 0.05% U3O8.
Slick Rock: The PEA for Velvet-Wood/Slick Rock was authored by Douglas L. Beahm, P.E., P.G. Principal Engineer, of BRS Inc., Harold H. Hutson, P.E., P.G., Carl D. Warren, P.E., P.G., and Terence P. (Terry) McNulty, P.E., D. Sc., of T.P. McNulty and Associates Inc. (May 6, 2023). Mineral resources are not mineral reserves and do not have demonstrated economic viability in accordance with CIM standards. GT cut-off varies by locality from 0.25%-0.50%.
Frank M: Historic Technical Report for Frank M, prepared for Uranium One Americas, was authored by Douglas L. Beahm, P.E., P.G. Principal Engineer of BRS Inc., and Andrew C. Anderson, P.E., P.G. Senior Engineer/Geologist of BRS Inc., dated June 10, 2008. Frank M historic resource used a GT cut-off of 0.25%.
Findlay Tank: Historic Technical Report for Findlay Tank, prepared for Uranium One Americas, was authored by Douglas L. Beahm, P.E., P.G. Principal Engineer of BRS Inc., dated October 2, 2008. Findlay Tank historic resource used a grade cut-off of 0.05% eU3O8.
Artillery Peak: Artillery Peak Exploration Project, Mohave County, Arizona, 43-101 Technical Report, authored by Dr. Karen Wenrich, October 12, 2010. GT cut-off varies by locality from 0.01%-0.05%.
Marquez-Juan Tafoya: The Historical Technical Report, Preliminary Economic Assessment, for Marquez-Juan Tafoya, prepared for Uranium Energy Corporation, was authored by Douglas L. Beahm, P.E., P.G., Principal Engineer of BRS Inc., and Terence P. McNulty, P.E., PhD, McNulty & Associates, dated June 9, 2021. The mineral resources are reported at a 0.60 GT cut-off.
On behalf of the Board of Directors
ANFIELD ENERGY INC.
Corey Dias, Chief Executive Officer
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.
Contact:
Anfield Energy, Inc.
Clive Mostert
Corporate Communications
780-920-5044
contact@anfieldenergy.com
www.anfieldenergy.com
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”. STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT PURELY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” “PLAN” OR “EXPECT” OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT ANNUAL AND QUARTERLY REPORTS AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED FUTURE CAPITAL REQUIREMENTS AND THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY’S EXPLORATION EFFORTS WILL SUCCEED OR THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. |
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| To: LoneClone who wrote (22683) | 6/19/2024 12:51:25 PM | | From: LoneClone | | | | [Lithium/Cesium/Tantalum] POWER METALS' WORLD-CLASS CESIUM RESULTS CONTINUE TO GROW AT CASE LAKE
newswire.ca
Power Metals Corp. Jun 18, 2024, 08:30 ET
VANCOUVER, BC, June 18, 2024 /CNW/ - Power Metals Corp. ("Power Metals" or the "Company") (TSXV: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to report high-grade cesium and lithium results on the remainder of exploration drillhole assays from the winter 2024 drill program (the "Program") at its 100% owned Case Lake property (the "Property") in northeastern Ontario. Exploration drilling at the world-class West Joe Prospect has continued to intersect shallow high grade cesium mineralization up to 24.70% (PWM24-198) hosted in pollucite. This is the highest-grade cesium intercept reported to date at West Joe and continues to add confidence to this unique prospect along with lithium intercepts of 2.00 m at 3.55% Li2O (PWM24-188) and 32.44 m at 1.40% Li2O (PWM24-186). In addition, the assay results at the Main Zone continues to deliver encouraging lithium intercepts with the following highlights:
Figure 1 – West Joe Collar Location from 2024 Drilling (CNW Group/Power Metals Corp.)
Figure 2 – Cross section of PWM24-198 with results from West Joe drilling from the Company’s 2024 program, along with previously released results from 2022-2024 (CNW Group/Power Metals Corp.)
Figure 3 – Cross section of PWM24-189 with results from West Joe drilling from the Company’s 2024 program, along with previously released results from 2018 (CNW Group/Power Metals Corp.)
Figure 4 – Main Zone plan View Map Displaying Collar Location from the 2024 Drilling Program (CNW Group/Power Metals Corp.)
Figure 5 – Map of Power Metals current project in northeastern Ontario and northwestern Quebec, Canada (CNW Group/Power Metals Corp.)
HIGHLIGHTS
WEST JOE:
- PWM-24-201: 7.13 m at 1.21% Li2O, 6.27% Cs2O and 348 ppm Ta from 14.15 m
-
- Including 5.00 m @ 1.31% Li2O, 8.81% Cs2O and 265 ppm Ta from 15.00 m
- Including 1.00 m @ 1.02% Li2O, 19.40% Cs2O and 108 ppm Ta from 17.00 m
- PWM-24-198: 3.22 m at 1.76% Li2O, 7.32% Cs2O and 140 ppm Ta from 14.78 m
-
- Including 2.45 m @ 2.27% Li2O, 9.29% Cs2O and 156 ppm Ta from 15.55 m
- Including 0.80 m @ 0.36% Li2O, 24.70% Cs2O and 9 ppm Ta from 16.20 m
- PWM-24-199: 8.11 m at 1.42% Li2O, 4.50% Cs2O and 233 ppm Ta from 7.12 m
-
- Including 4.50 m @ 1.42% Li2O, 8.03% Cs2O and 242 ppm Ta from 9.00 m
- Including 1.00 m @ 1.25% Li2O, 15.90% Cs2O and 102 ppm Ta from 11.00 m
- PWM-24-189: 8.70 m at 1.74% Li2O, 4.98% Cs2O and 782 ppm Ta from 14.25 m
-
- Including 5.00 m @ 1.67% Li2O, 8.59% Cs2O and 1116 ppm Ta from 16.00 m
- Including 1.00 m @ 2.20% Li2O, 20.14% Cs2O and 459 ppm Ta from 18.00 m
- PWM-24-202: 7.74 m at 1.82% Li2O, 2.07% Cs2O and 534 ppm Ta from 8.60 m
-
- Including 5.00 m @ 1.97% Li2O, 3.13% Cs2O and 670 ppm Ta from 10.00 m
- PWM-24-191: 5.32 m at 1.01% Li2O, 2.39% Cs2O and 278 ppm Ta from 41.00 m
-
- Including 2.00 m @ 0.61 % Li2O, 6.12% Cs2O and 367 ppm Ta from 41.00 m
- PWM-24-186: 32.44 m at 1.40% Li2O, 0.58% Cs2O and 248 ppm Ta from 10.41 m
-
- Including 1.20 m @ 0.62% Li2O, 8.13% Cs2O and 575 ppm Ta from 39.80 m
- PWM-24-188: 3.47 m at 2.74% Li2O, 4.91% Cs2O and 250 ppm Ta from 23.03 m
-
- Including 2.00 m @ 3.55% Li2O, 7.46% Cs2O and 196 ppm Ta from 24.00 m
- PWM-24-200: 3.00 m at 1.68% Li2O, 3.83% Cs2O and 1002 ppm Ta from 11.00 m
-
- Including 1.35 m @ 2.34% Li2O, 4.87% Cs2O and 1474 ppm Ta from 12.65 m
- Including 0.75 m @ 1.44% Li2O, 6.55% Cs2O and 2201 ppm Ta from 12.65 m
- PWM-24-187: 6.32 m at 1.24% Li2O, 0.07% Cs2O and 157 ppm Ta from 13.28 m
- PWM-24-193: 5.65 m at 1.66% Li2O, 0.07% Cs2O and 143 ppm Ta from 19.35 m
- PWM-24-195: 3.53 m at 1.79% Li2O, 0.03% Cs2O and 387ppm Ta from 49.29 m
CASE LAKE MAIN:
- PWM-24-169: 4.00 m at 0.99% Li2O and 186 ppm Ta from 54.0 m
-
- Including 1.10 m @ 1.10 % Li2O, 1.03% Cs2O and 213 ppm Ta from 56.90 m
- PWM-24-170: 1.60 m at 1.17% Li2O and 97 ppm Ta from 38.18 m
2024 EXPLORATION DRILL PROGRAM
Exploration results in this news release are the remainder of assays from the outstanding 29 drill holes completed at West Joe and Main Zone from the Company's winter drill program at Case Lake. A table of all collars, composites, and prospects is displayed in Table 1.
Haydn Daxter, Power Metals CEO commented "The results to date from West Joe are incredibly exciting from our winter exploration drilling program that has delivered our highest cesium grades on the property. This unique and complex prospect not only displays world class cesium with 24.70% and also displayed lithium grades up to 3.55% along with tantalum reported at 2201 ppm from recent drilling. These results will continue to build on the potential at the property as we continue our metallurgical test work and prepare for Phase II of drilling this summer".
WEST JOE
The West Joe deposit is a unique, highly fractionated lithium, cesium, tantalum (LCT) pegmatite system that contains world-class high-grade cesium (Cs2O) mineralization hosted in pollucite, along with high-grade lithium and tantalum (Figure 1). It is characterized by two stacked pegmatites that are up to 9 meters thick and extend for 100 meters along strike and open down plunge.
The 2024 winter drill program at West Joe intersected consistent high-grade cesium mineralization in majority of the holes drilled to define and delineate LCT mineralization at West Joe. Several holes that include PWM-24-189, 198, 199, and 201 intersected high-grade cesium in pollucite between 11.9% to 24.7%. The high-grade cesium is bound by consistent medium-grade cesium mineralization between 2% to 9% (Figures 1-3, Table 1). In addition to the high-grade cesium and lithium mineralization, high-grade tantalum mineralization was intercepted above 500 ppm tantalum in multiple drillholes (Table 1). PWM-24-186 was drilled to test consistency of LCT mineralization down dip and plunge of the main dyke at West Joe and confirmed continuity and the widest mineralization at West Joe to date with 32.4 meters of 1.4% Li2O, 0.58% Cs2O, and 248 ppm Ta.
Exploration drill holes have expanded mineralization along-strike and down-dip at West Joe intersecting high-grade cesium, lithium, and tantalum in holes PWM-24-175, 176, 185, 187, 191, and 197, indicating an open mineralization system down plunge of West Joe (Figures 1-3, Table 1). Additional step-out exploration holes drilled to the east and west of West Joe did not intersect significant mineralization, however, did intersect pegmatites that contain anomalous ore-grade tantalum mineralization above 100 ppm. Two samples from drill holes PWM-24-179 and 180 drilled 600 meters along strike to the east of West Joe reported 494 and 207 ppm tantalum respectively.
MAIN ZONE
LCT pegmatite mineralization at Case Main is represented as a stacked pegmatite system that is part of three main dykes, historically referred as South, Main, and North dykes (Figure 4). The high grade LCT pegmatite system at Case Main is up to 35 meters thick and extends for more than 400 meters along strike. Mineralization continues to 100 meters vertical depth and remains open down plunge to the west and along strike to the east.
PWM-24-169 and 170 were drilled to extend historic cesium and lithium mineralization from drill hole PWM-17-49 that reported 3 meters of 1.61% Li2O, 1.35% Cs2O, and 144 ppm Ta. PWM-24-169, drilled to the east at Main Zone intersected 4 meters of 0.99% Li2O, 0.4% Cs2O, and 186 ppm of Ta, indicating open mineralization to the east of Main Zone (Figure 4, Table 1). The 3 meter intercept of LCT mineralization in PWM-24-169 contains 1.1 meters of 1.1% Li2O, 1.03% Cs2O, and 213 ppm of Ta, indicating the potential for cesium mineralization on the south side of the Main dyke at Case Main.
Johnathan More, Chairman of Power Metals commented "We are extremely pleased to see drill assays have added additional high-grade cesium, lithium, and tantalum mineralization at West Joe to this world-class prospect along with producing consistent lithium results from Main Zone. We look forward to our ongoing field activities and commencing our fully funded Phase II drill program in summer at Case Lake."
Table 1 – Summary of Assay Results in Drillholes Reported in this Press Release
Hole ID
| Easting
NAD83
| Northing
NAD83
| Elevation
MASL
| Depth
(m)
| Dip
| Azimuth
NAD83
| From
(m)
| To
(m)
| Significant Intersections
| Interval
(m)
| Li2O
%
| Ta
(ppm)
| Cs2O
(%)
| Main Zone
| PWM-24-169
| 578310
| 5431684
| 345
| 201
| -45
| 147
| 54
| 58
| 4
| 0.99
| 186
| 0.39
| including 1.10m @ 1.1 % Li2O, 1.03% Cs2O, & 213 ppm Ta
from 56.9m
| 146.7
| 148.8
| 2.1
| 0.36
| 195
| 0.03
| PWM-24-170
| 578312
| 5431649
| 347
| 141
| -45
| 153
| 38.18
| 39.78
| 1.6
| 1.17
| 97
| 0.04
| West Joe
| PWM-24-175
| 576343
| 5431133
| 344
| 72
| -45
| 170
| 32
| 36
| 4
| 0.08
| 103
| 0.02
| PWM-24-176
| 576343
| 5431133
| 344
| 100
| -54
| 152
| 27.77
| 30.75
| 2.98
| 0.22
| 14
| 0.18
| PWM-24-178
| 576435
| 5431269
| 337
| 252
| -47
| 170
| no significant mineralization
| PWM-24-179
| 577016
| 5431116
| 347
| 171
| -45
| 170
| no significant mineralization
| PWM-24-180
| 576958
| 5431182
| 343
| 171
| -45
| 170
| no significant mineralization
| PWM-24-181
| 576810
| 5431024
| 346
| 147
| -45
| 170
| no significant mineralization
| PWM-24-182
| 576180
| 5431131
| 345
| 152
| -50
| 170
| no significant mineralization
| PWM-24-183
| 576315
| 5431141
| 344
| 72
| -45
| 170
| 31.37
| 34.4
| 3.03
| 0.85
| 722
| 0.03
| 43.9
| 50.27
| 6.37
| 0.11
| 117
| 0.06
| PWM-24-184
| 576318
| 5431127
| 344
| 75
| -45
| 170
| 23.79
| 30.04
| 6.25
| 0.85
| 736
| 0.68
| including 3.35m @ 0.6 % Li2O, 1.2% Cs2O, & 706 ppm Ta
from 26.2m
| PWM-24-185
| 576329
| 5431149
| 342
| 81
| -45
| 150
| 52.56
| 60.1
| 7.54
| 0.04
| 144
| 0.18
| including 1.0m @ 0.02 % Li2O, 1.1% Cs2O, & 277 ppm Ta
from 58.5m
| PWM-24-186
| 576313
| 5431096
| 347
| 102
| -45
| 55
| 10.41
| 42.85
| 32.44
| 1.40
| 248
| 0.58
| including 1.2m @ 1.01 % Li2O, 3.03% Cs2O, & 232 ppm Ta
from 25.8m
0.8m @ 0.42 % Li2O, 3.02% Cs2O, & 167 ppm Ta
from 33.6m
1.2m @ 0.62 % Li2O, 8.13% Cs2O, & 575 ppm Ta
from 39.8m
| PWM-24-187
| 576332
| 5431110
| 345
| 60
| -45
| 170
| 13.28
| 19.6
| 6.32
| 1.24
| 157
| 0.07
| PWM-24-188
| 576323
| 5431125
| 344
| 72
| -45
| 170
| 23.03
| 26.5
| 3.47
| 2.74
| 250
| 4.91
| including 2.0m @ 3.55 % Li2O, 7.46% Cs2O, & 196 ppm Ta
from 24.0m
| PWM-24-189
| 576307
| 5431115
| 346
| 72
| -45
| 170
| 14.25
| 22.95
| 8.7
| 1.74
| 782
| 4.98
| including 5.0m @ 1.67 % Li2O, 8.6% Cs2O, & 1116 ppm Ta
from 16.0m
with 1.0m @ 2.2 % Li2O, 20.14% Cs2O, & 459 ppm Ta
from 18.0m
| PWM-24-190
| 576288
| 5431120
| 346
| 72
| -45
| 170
| 16.38
| 19.28
| 2.9
| 1.04
| 348
| 0.06
| PWM-24-191
| 576294
| 5431139
| 344
| 70
| -45
| 170
| 41
| 46.32
| 5.32
| 1.01
| 278
| 2.39
| including 2.0m @ 0.61 % Li2O, 6.12% Cs2O, & 367 ppm Ta from 41.0m
| PWM-24-192
| 576311
| 5431137
| 344
| 72
| -45
| 170
| 28.1
| 31.19
| 3.09
| 0.95
| 572
| 0.03
| PWM-24-193
| 576330
| 5431117
| 344
| 60
| -45
| 170
| 19.35
| 25
| 5.65
| 1.66
| 143
| 0.07
| PWM-24-194
| 576335
| 5431171
| 340
| 81
| -45
| 170
| no significant mineralization
| PWM-24-195
| 576293
| 5431152
| 343
| 81
| -45
| 170
| 49.29
| 52.82
| 3.53
| 1.79
| 387
| 0.03
| PWM-24-196
| 576287
| 5431147
| 343
| 81
| -45
| 170
| 43
| 48.48
| 5.48
| 0.41
| 951
| 0.03
| PWM-24-197
| 576284
| 5431144
| 344
| 81
| -45
| 170
| 41.88
| 45
| 3.12
| 0.75
| 935
| 0.05
| PWM-24-198
| 576316
| 5431113
| 346
| 150
| -45
| 170
| 14.78
| 18
| 3.22
| 1.76
| 140
| 7.32
| including 2.45m @ 2.27 % Li2O, 9.29% Cs2O, & 156 ppm Ta
from 15.6m
with 0.8m @ 0.36 % Li2O, 24.7% Cs2O, & 9 ppm Ta
from 16.2m
| PWM-24-199
| 576312
| 5431106
| 347
| 60
| -55
| 170
| 7.12
| 15.23
| 8.11
| 1.42
| 233
| 4.50
| including 4.5m @ 1.42 % Li2O, 8.03% Cs2O, & 242 ppm Ta
from 9.0m
with 1.0m @ 1.25 % Li2O, 15.9% Cs2O, & 102 ppm Ta
from 11.0m
0.6m @ 1.29 % Li2O, 13.8% Cs2O, & 164 ppm Ta
from 12.9m
| PWM-24-200
| 576303
| 5431109
| 346
| 60
| -45
| 170
| 11
| 14
| 3
| 1.68
| 1002
| 3.83
| including 1.35m @ 2.34 % Li2O, 4.87% Cs2O, & 1474 ppm Ta
from 12.65m
| PWM-24-201
| 576319
| 5431115
| 346
| 60
| -45
| 170
| 14.15
| 21.28
| 7.13
| 1.21
| 348
| 6.27
| including 5.0m @ 1.31 % Li2O, 8.81% Cs2O, & 265 ppm Ta
from 15.0m
with 1.0m @ 1.84 % Li2O, 11.9% Cs2O, & 240 ppm Ta
from 15.0m
1.0m @ 1.02 % Li2O, 19.4% Cs2O, & 108 ppm Ta
from 17.0m
| PWM-24-202
| 576312
| 5431111
| 347
| 60
| -45
| 170
| 8.6
| 16.34
| 7.74
| 1.82
| 534
| 2.07
| including 5.0m @ 1.97 % Li2O, 3.13% Cs2O, & 670 ppm Ta
from 10.0m
|
Sampling and QAQC Procedures
Samples were taken across every pegmatite and 1.5 meter into the barren host rock on either side of dykes. Sample lengths were around 1-metre NQ core diameter (48 mm), though individual sample length was determined based on internal zoning of the dykes and the locations of their contacts. The sampled core was cut in half with one half being sent for analysis and the other half remaining in the box for reference. All core is stored at Power Metals core storage facility in Cochrane, Ontario. Each sample was put into its own plastic sample bag with a sample tag and closed with zip ties. About 15% of the samples submitted to Activation Laboratories Ltd. ("Actlabs") and SGS Canada ("SGS") for analysis were QAQC samples that were inserted into the sample stream and consist of a high- and low-grade lithium, Tantalum, and Cesium standards, blank material, and duplicates. Samples were dropped at either Actlabs Timmins or SGS Cochrane, in Ontario. Samples submitted to Actlabs were prepped, crushed and pulverized in Timmins and were subsequently sent to Actlabs geochemistry laboratory in Ancaster, Ontario for multi element analysis using sodium peroxide fusion ICP-OES/ICP-MS and borate fusion ICP-MS. Samples submitted to SGS were prepped, crushed, and pulverized in Sudbury and were subsequently sent to SGS Burnaby and SGS Lakefield for multi element analysis using sodium peroxide fusion ICP-AES/ICP-MS and borate fusion XRF. All cesium results above 1% were analyzed using 4-Acid digest AAS at SGS Lakefield.
Actlabs and SGS Canada are independent of the Company.
Further to the Company's news release dated March 28, 2024, the Company announces that the stock options granted to Outside-The-Box will have an expiry date of March 27, 2026. Otherwise, subject to TSX Venture Exchange approval, all other terms of the options as announced on March 28, 2024, remain in full force and effect.
Pursuant to the press release dated August 24, 2023, the Company is continuing to prepare the necessary documents to receive final TSXV approval for the acquisition of the properties, including the preparation of a technical report.
Case Lake Property
The Case Lake Property is located 80 km east of Cochrane, northeastern Ontario close to the Ontario - Quebec border. The Property consists of 585 cell claims in Steele, Case, Scapa, Pliny, Abbotsford and Challies townships, Larder Lake Mining Division. The Property is 10km by 9.5km in size with 14 granitic domes. The Case Lake pegmatite swarm consists of six spodumene dykes known as the North, Main, South, East and Northeast dykes on the Henry Dome, and the West Joe dyke on a new dome, collectively forming mineralization trend that extends for approximately 10km (Figure 5).
Power Metals have completed several exploration campaigns that have led to the discovery and expansion of new and historic spodumene bearing LCT pegmatites at Case Lake. The Company has drilled a total of 19,607 meters of core between 2017 and 2024 at the Property. The Case Lake Property is owned 100% by Power Metals Corp. A National Instrument 43-101 Technical Report has been prepared on Case Lake Property and filed on July 18, 2017.
Pelletier Property
The Pelletier Property is located 50km south of Hearst, northeastern Ontario close to a network of forestry roads. The Property consists of 337 mineral claims that account for a total of 7000 hectares in Franz, Roche, Scholfield, and Talbot townships in the Porcupine mining division. The Pelletier Project is characterized by LCT prospective S-type pegmatitic granites intruding into metasedimentary and amphibolite of the Quetico at or near Archean terrane boundary between the Quetico and Wawa sub-provinces (Figure 5).
Decelles Property
The Decelles Property contains 669 claims, covering 38,404 hectares of LCT prospective ground near the mining centers of Val-dÓr and Rouyn-Noranda, approximately 600km from Montreal. Power Metals acquired the Decelles and Mazerac properties from Winsome Resources in 2023 in a deal that allowed Winsome to increase its stake to 19.59% (Refer to press release announced on August 24, 2023). The geology of Decelles property is part of the Archean Pontiac sub-province where S-type LCT prospective, pegmatite bearing, granitic Decelles Batholith intrudes into metasedimentary units of the Pontiac Group. Spodumene and Beryl bearing pegmatites have been reported historically within the Pontiac sub-province in association with S-type garnet-muscovite granite. The Decelles property is adjacent to Vision Lithium's Cadillac property where discovery of high-grade lithium pegmatites was reported in 2022 (Figure 5).
Mazerac Property
The Mazerac Property is located approximately 30 km east of Power Metals' Decelles property near well-established mining camps in the Abitibi region of Canada and is accessible by network of mining-grade forestry roads. The Mazerac property contains 259 claims that cover 14,700 hectares of LCT prospective ground near the mining center of Val-dÓr and Rouyn-Noranda. The regional geology of Mazerac is similar to Decelles where S-type LCT prospective, pegmatite bearing, granites of Decelles Batholith intrude into metasedimentary units of the Pontiac Group. Spodumene and Beryl bearing pegmatites have been reported historically within the Pontiac sub-province in association with S-type garnet-muscovite granite (Figure 5).
Pollucite and Cesium
Pollucite is a rare mineral that hosts high grade cesium and is associated with highly fractionated, compact, and rare element pegmatites. The main source of cesium known globally is pollucite (Cs,Na)2(Al2Si4O12)•2H2O, c212.net. Currently the Tanco mine in Manitoba, Canada is the only operating cesium deposit and holds over 60% of the known reserves globally.
Scientific and Technical Disclosure
The scientific and technical disclosure included in this news release has been reviewed and approved by Amanuel Bein, P.Geo., Vice President of Exploration for Power Metals, a Qualified Person under National Instrument 43-101 Standards of Disclosure of Mineral Projects. Exploration data was collected and verified following the guidelines outlined in CIM's Mineral Exploration Best Practice Guidelines.
Power Metals
Power Metals Corp. is a diversified Canadian mining company with a mandate to explore, develop and acquire high quality mining projects. We are committed to building an arsenal of projects in both lithium and high-growth specialty metals and minerals. We see an unprecedented opportunity to supply the tremendous growth of the lithium battery and clean-technology industries. Learn more at www.powermetalscorp.com.
ON BEHALF OF THE BOARD
Johnathan More, Chairman & Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Power Metals assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile onwww.sedar.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSXV has neither reviewed nor approved the contents of this press release.
SOURCE Power Metals Corp.
 Power Metals Corp., Johnathan More, 646-661-0409, info@powermetalscorp.com
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