- The Company has mobilized its technical team onsite for a two (2) week visit. The Project is recognized as being highly prospective for the discovery of new LCT–pegmatites as it has never been subject to systematic exploration and drilling using modern exploration techniques.
- The Company has identified beryl and tantalum within pegmatites within the limited exploration completed to-date during this visit, confirming the presence of an evolved lithium-cesium-tantalum ("LCT") system. The identification of beryl and tantalum is a key finding that confirms that the
Gathering Lake Project has a highly evolved LCT–system. As tantalum in particular is present in more evolved phases within an LCT–system, this indicates that the system could contain spodumene, the key lithium-bearing mineral in pegmatites. - This is the third project the Company has optioned where it has confirmed a potential spodumene-bearing system. An evolved LCT-system was confirmed to be present recently through the identification of beryl-pegmatites on its initial site visit at the
Company's Mead Project (see news release datedJune 1, 2023 ), and theWhite Willow Project is documented to have a high-grade coarse-grained tantalite showing with 14.64% Ta2O5, mineralization which is only known to be found at one other locality inOntario which is the North Aubrey pegmatite atGreen Technology Metals (GT1) Seymour Lake Project where GT1 has identified a 9.9 Mt resource at 1.04% Li2O. - The project was recently optioned for
$12,000 and 50,000 shares and the Company has the right to earn 100% through a total payment of$69,500 and 412,500 shares over 3 years.
The Company has mobilized its technical team onsite for a two (2) week visit and is pleased to announce that it has identified beryl and tantalum within outcropping pegmatites at the Project within its first two days onsite.
The Company acquired the Project because of its high potential to be prospective for LCT-pegmatites, as the claims shared a number of similar characteristics to Rock Tech Lithium's Georgia
- Lithium occurrences in this field run along a primary fault which runs through Gathering Lake.
- The regional airborne total magnetic signature for the
Georgia Lake pegmatite field indicates that the spodumene pegmatites occur at the margin of a magnetic high, which is what is observed at the Project. - The regional airborne radiometric potassium intensity signature for the
Georgia Lake pegmatite field indicates that the spodumene pegmatites occur in medium low potassium intensity, a finding that is also observed on theGathering Lake Project .
The fact that the geology and geophysics at Gathering Lake are similar to the known spodumene pegmatites at
The Company's initial site visit is on-going, with further prospecting, mapping, soil and outcrop sampling planned, and the Company will provide additional updates throughout the visit and upon its conclusion.
"We are thrilled with these initial findings at Gathering Lake," said
The Company announces that, further to its news release of
The technical content of this news release has been reviewed and approved by Mr.
For more information, please call
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This news release may include "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
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