NEO welcomes Alpha Lithium Corporation , a lithium mining company headquartered in Vancouver, British Columbia. Alpha Lithium begins trading today on the NEO Exchange under the symbol ALLI , following a voluntary delisting from the TSX-Venture Exchange.
"Supporting the enablers of the Innovation Economy is one of our top priorities, and Alpha Lithium is a lighthouse example of delivering on this endeavor," said Jos Schmitt, President of NEO and SVP of Global Listings for Cboe Global Markets. "Alpha Lithium is now our fifth and largest strategic minerals mining listing. Alpha Lithium is also the most recent listing in a steady flow of companies graduating from venture exchanges to NEO as their Canadian main board. This is a trend that we expect to continue as we focus on providing issuers with global exposure and trading liquidity. We are honoured to welcome Alpha Lithium as our newest corporate partner and look forward, with much anticipation, to the future results of their lithium exploration in Argentina."
Alpha Lithium is currently focused on advancing its two flagship projects in Argentina's famous "Lithium Triangle" - the Tolillar project and the Hombre Muerto project. Lithium is a critical mineral necessary for electrification and a low carbon economy, and is used as a key component in rechargeable batteries for electric vehicles, mobile phones, laptops, digital cameras, and more.
"Having advanced our company operationally, advancing to the senior NEO Exchange is now critical to gaining wider access to investors," said Brad Nichol, President and CEO of Alpha Lithium. "From a capital markets perspective, we chose to graduate our public listing to the NEO Exchange in order to leverage their reach with a broader range of global, institutional investors. Today's uplisting is reflective of many exciting growth developments occurring within the company."
Investors can seamlessly continue to trade shares and warrants of Alpha Lithium under the symbols ALLI and ALLI.WT respectively, through their usual investment channels, including discount brokerage platforms and full-service dealers.
Alpha Lithium joins over 250 unique listings on the NEO Exchange, including some of the most innovative Canadian and international growth companies, and ETFs from Canada's largest ETF issuers. NEO consistently facilitates between 10% and 15% of all volume traded in Canadian-listed companies and close to 20% of all volume traded in Canadian ETFs. Click here for a complete view of all NEO-listed securities.
The NEO Exchange is Canada's Tier 1 stock exchange for the innovation economy, bringing together investors and capital raisers within a fair, liquid, efficient, and service-oriented environment. Fully operational since 2015 and acquired by Cboe Global Markets in 2022, NEO provides access to trading across all Canadian-listed securities on a level playing field. NEO lists companies and investment products seeking an internationally recognized stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.
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Alpha Lithium is a team of industry professionals and experienced stakeholders focused on the development of the Tolillar and Hombre Muerto salars. In Tolillar, the company has assembled 100% ownership of what may be one of Argentina's last undeveloped lithium salars, encompassing 27,500 hectares (67,954 acres), neighbouring multibillion-dollar lithium players in the heart of the renowned Lithium Triangle. In Hombre Muerto, the company continues to expand its 5,000-plus-hectare (12,570-acre) foothold in one of the world's highest-quality, longest-producing lithium salars.
Connect with Alpha Lithium: Website | LinkedIn | Twitter | Instagram
View source version on businesswire.com: https://www.businesswire.com/news/home/20220920005324/en/
NEO Media Contact: Aimee Morita media@neostockexchange.com
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VANCOUVER, BC / ACCESSWIRE /September 23, 2022 / Marvel Discovery Corp.(TSXV:MARV)(Frankfurt:O4T)(OTCQB:MARVF), ("Marvel");and Falcon Gold Corp. (FG: TSX-V), (3FA: GR), (FGLDF: OTCQB), ("Falcon");and together (the "Alliance") are pleased to provide an update on their combined exploration focus for their Hope Brook Projects which are strategically located contiguous to Benton-Sokoman's Joint Venture, and First Mining's ground which was recently optioned to Big Ridge Exploration. The Alliance had originally planned to complete high resolution magnetic gradiometer surveys over the project area, a proven method to distinguish structural complexities in geological terranes. Start of the survey work has been delayed due to helicopter availability from forest fires in Central Newfoundland, a state of emergency was issued. Providing the Alliance an opportunity to conduct a geophysical review and structural interpretation over the Hope Brook project area in advance of the survey and surface work. The Alliance is pleased to announce that the geophysical review has identified kilometer-scale shear zone corridors, and a major fold closure, interpreted from the magnetic patterns, within the Hope Brook Property area. These will be the focus of prospecting and till sampling projects employed to verify the structures and determine their mineralization potential. With recent success in identifying anomalous gold, tungsten, silver, and copper reported by Falcon at their Gander North Property (September 15, 2022), the Alliance has shifted their exploration focus to the Gander district.
In the past year, Benton-Sokoman made headlines announcing the first High Grade Discovery of Lithium bearing pegmatites at their Golden Hope project. It is important to note this discovery is less than 1 km away from the combined ground held by Marvel and Falcon and appears to be the same structural corridor covered by the Alliance land tenure. The 35 grab and chip samples noted in the Benton-Sokoman NR (September 16th, 2021) were collected over a 2 km distance. Their sampling program confirmed the presence of lithium pegmatites, and the first significant occurrence of Lithium documented in the province of Newfoundland and Labrador, Canada.
Marvel and Falcon recently formed a strategic partnership (November 17, 2021) that combines both the Hope Brook and Baie Verte Brompton District properties covering a combined 115,170 hectares to be explored on a 50-50 Joint Venture basis. The Hope Brook Property is hosted within the Exploits subzone of the central Newfoundland gold belt. The property covers extensions of, or are proximal to, two major structures linked to several significant gold prospects (Cape Ray; Matador Mining) and deposits (Hope Brook; First Mining) in southern Newfoundland. Rock lithologies and structures on the property are also related to those associated with Marathon Gold's Valentine gold deposits, Sokoman's Moosehead gold project and New Found Gold's Queensway gold project. The combined land position straddles both the eastern and western extents of recent land acquisitions by the Benton-Sokoman's JV partnership, with the JV now controlling areas of considerable structural complexity marked by large-scale fold and fault structures, which provide important structural controls (traps) for gold mineralization within this area.
Within this immediate area, the most significant deposit is the Hope Brook Gold Mine, which was in production from 1987 to 1997, producing 752,163 ounces of gold. The Hope Brook deposit is now owned by Coastal Gold Corp., which has outlined an additional 6.33 million tonnes at an average grade of 4.68 grams per tonne gold for 954,000 ounces of gold in the indicated and inferred categories.
The technical content of this news release has been reviewed and approved by Greg Robinson, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:
The Company's website is: https://marveldiscovery.ca/
ON BEHALF OF THE BOARD
Karim Rayani President/Chief Executive Officer, Director
Tel: 604 716 0551 email: k@r7.capital
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law
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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Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company") ") is pleased to announce that it has signed a non-binding memorandum of understanding (the "MOU") with LG Energy Solution (LGES) (KRX: 373220) to supply LGES with a battery-grade lithium hydroxide starting in 2025.
Avalon plans to establish a regional lithium battery materials supply chain in Ontario to serve the needs of future electric vehicle and lithium-ion battery manufacturers in southern Ontario and elsewhere.
The MOU was signed during the visit of South Korea's President, Yoon Suk Yeol to Canada, at a ceremony supported by the Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR), Natural Resources Canada (NRCAN) and other partners.
LGES is a leading global manufacturer of lithium-ion batteries for electric vehicles and energy storage systems. Avalon is accelerating its plans for establishing a lithium battery materials processing facility in Thunder Bay, Ontario and the agreement today helps advance the Company's vision to develop a sustainable and secure domestic lithium supply chain. Entering into a commercial relationship with a proven manufacturing leader like LGES will help enable that vision.
Under the terms of the MOU, Avalon would commit, for five years initially, to provide LGES with at least 50% of its planned initial lithium hydroxide production from its Thunder Bay facility, with the potential to increase production as demand grows. LGES recognizes the strategic value of Avalon's planned lithium processing facility as a bridge to connect downstream users with the lithium battery material required to meet production targets.
Pursuant to the MOU, the parties will continue discussions to enter into a definitive supply agreement, which is intended to be finalized in no later than 6 weeks.
Demand for lithium hydroxide and lithium carbonate continues to grow in North America as new electric vehicle and battery manufacturing capacity is established both in the U.S. and in Canada. Ontario is now well positioned to take advantage of the rapid growth with the announcement in March, 2022 of Ontario's first-ever Critical Minerals Strategy, which Premier Doug Ford described as "the government's blueprint to connect industries, resources and workers in our province's north to the future of manufacturing in the south as we build up home-grown supply chains."
Most importantly, Ontario's rich endowment in critical minerals in the North positions Ontario well to create the full supply chains and take advantage of the demand for critical minerals in the emerging new advanced technology manufacturing sector of the economy. It will also help expand the economy in the North and provide many remote First Nation communities with new economic development opportunities.
"As we have recently announced our mid-to long-term strategy to focus on North America, the fastest growing EV market, this partnership serves as a crucial step towards securing a stable key raw material supply chain in the region," said Youngsoo Kwon, CEO of LG Energy Solution. "By constantly investing in upstream suppliers and establishing strategic partnerships with major suppliers of critical minerals, LGES will continue to ensure the steady delivery of our top-quality products, thereby further advancing the global transition to EV's and ultimately to a sustainable future."
Avalon President Don Bubar commented, "We are delighted to enter into this agreement with LGES to support our aspirations of establishing the mid-stream processing capacity in Thunder Bay to take advantage of the many lithium resources that occur in northwestern Ontario to create the supply chain for the emerging lithium-ion battery manufacturing capacity in southern Ontario. As was noted by Premier Ford, this creates a win-win for Ontario's economy in both the south and the north and will also create many new economic development opportunities for remote Indigenous communities."
The MOU builds on growing Canada-South Korea bilateral economic ties and supports clean energy and foreign direct investment objectives.
About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is a Canadian mineral development company specializing in sustainably-produced materials for clean technology. The Company now has four advanced stage projects, providing investors with exposure to lithium, tin and indium, as well as rare earth elements, tantalum, cesium and zirconium. Avalon is currently focusing on developing its Separation Rapids Lithium Project near Kenora, Ontario while continuing to advance other projects, including its 100%-owned Lilypad Cesium-Tantalum-Lithium Project located near Fort Hope, Ontario. Social responsibility and environmental stewardship are corporate cornerstones.
For questions and feedback, please e-mail the Company at ir@AvalonAM.com, or phone Don Bubar, President & CEO, directly at 416-364-4938 ext. 222.
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements that Avalon plans to establish a regional lithium battery materials supply chain, that the agreement helps advance the Company's vision to develop a sustainable and secure domestic lithium supply chain, that entering into a commercial relationship with a proven manufacturing leader like LGES will help enable that vision, statements related to the terms of the MOU, that the parties will continue discussions to enter into a definitive supply agreement, which is intended to be finalized in no later than 6 weeks, and statements related to Ontario's critical mineral strategy and opportunities. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "potential", "scheduled", "anticipates", "continues", "expects" or "does not expect", "is expected", "scheduled", "targeted", "planned", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be" or "will not be" taken, reached or result, "will occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Avalon to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made. Although Avalon has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking statements include, but are not limited to market conditions, and the possibility of cost overruns or unanticipated costs and expenses as well as those risk factors set out in the Company's current Annual Information Form, Management's Discussion and Analysis and other disclosure documents available under the Company's profile at www.SEDAR.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements have been provided for the purpose of assisting investors in understanding the Company's plans and objectives and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking statements. Avalon does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138095
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LithiumBank Resources Corp. ( TSX-V: LBNK ) ( OTCQX: LBNKF) (" LithiumBank " or the " Company ") is pleased to announce the commencement of a hydrogeological study at the Park Place Lithium Brine Project, formally known as Fox Creek, located in west-central Alberta, approximately 180 km east of Edmonton along the Trans-Canada Highway.
LithiumBank has engaged Matrix Solutions Inc. ("Matrix") to conduct a hydrogeological study of LithiumBank's Park Place mineral permit area (Figure 1). Geologically, the area is underlain by the prospective Leduc Carbonate Reef complex and Beaverhill Lake Group. Matrix will utilize pre-existing data to determine porosity, permeability, transmissivity, and volume estimates of lithium-bearing brine. These estimates are expected to be used to complete a NI 43-101 Mineral Resource Estimate.
The Leduc Carbonate Reef complex (Woodbend Group) and the underlying Beaverhill Lake Group have historically been known to host the highest grades of lithium-in-brine in Alberta with samples that range from 76 mg/l to 130 mg/L lithium in Park Place Metallic and Industrial Mineral (MIM) permit area. These samples are considered historic and have not been verified by a Qualified Person (QP) under the latest NI 43-101 Standards of Disclosure and cannot be relied upon. Historical samples are mentioned as a reference only until such time they have been verified.
The Park Place Lithium Brine Project consists of 1,326,528 acres of contiguous MIM permits (Figure 1), which consists of 65 MIM permits and 10 MIM permit applications.
Rob Shewchuk, CEO states, "As we continue to advance our flagship Boardwalk Lithium project towards completion of a PEA, we are thrilled to demonstrate the significant lithium potential of our Park Place project, located 20km to the south of Boardwalk. This large land package took over 3 years for our team to put together capturing the vast majority of the Leduc reef structure in the area with potential to host a world-class lithium brine deposit. In the immediate future, the company is expected to conduct a thorough exploration program to define a 43-101 compliant inferred resource in Q4 with the intention to advance the project to a Preliminary Economic Assessment (PEA) targeted for Q2/23."
LithiumBank is currently working with several petro-operators in the permitted area to collect brine samples that will be used to verify historical results and conduct mineral processing test work with selected DLE technologies. Recent DLE test work at the Boardwalk Lithium Brine Project has provided a technical foundation and understanding of DLE processes that the company can now leverage for Park Place. Updates and results of the mineral processing and analysis will be released as they are received.
Figure 1: Location of historic lithium brine samples from LithiumBank's Park Place Lithium Brine Project
The Park Place area was the focus of a study, authored by D.R. Eccles and H. Berhane, entitled "Geological Introduction to Lithium-Rich Formation Water with Emphasis on the Fox Creek Area of West-Central Alberta (NTS 83F and 83K)" ( https://ags.aer.ca/publication/ofr-2011-10 ). The report highlights significant lithium potential in three different formations, the Leduc (Woodbend), Nisku (Winterburn), and Swan Hills (Beaverhill Lake Group) and are supported by historical lithium brine samples that range from 76 mg/l to 130 mg/l lithium in these formations.
The scientific and technical disclosure in this news release has been reviewed and approved by Mr. Kevin Piepgrass (Chief Operations Officer, LithiumBank Resources Corp.), who is a Member of the Association of Professional Engineers and Geoscientists of the province of BC (APEGBC) and is a Qualified Person (QP) for the purposes of NI 43 101. Mr. Piepgrass consents to the inclusion of the data in the form and context in which it appears.
LithiumBank Resources Corp. is an exploration and development company focused on lithium-enriched brine projects in Western Canada where low-carbon-impact, rapid DLE technology can be deployed. LithiumBank currently holds over 3.2 million acres of mineral titles, 2.82M acres in Alberta and 326K acres in Saskatchewan. LithiumBank's mineral titles are strategically positioned over known reservoirs that provide a unique combination of scale, grade and exceptional flow rates that are necessary for a large-scale direct brine lithium production. LithiumBank is advancing and de-risking several projects in parallel of the Boardwalk Lithium Brine Project.
Robert Shewchuk CEO & Director rob@lithiumbank.ca (778) 987-9767
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .
Cautionary Statement Regarding Forward Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, that Matrix anticipates using data acquired from various oil and gas operators and that is publicly available porosity, permeability, transmissivity, and volume estimates of lithium-bearing brine, the estimates are expected to be used to complete a NI 43-101 Mineral Resource Estimate and the Company is expected to conduct a thorough exploration program to define a 43-101 compliant resource estimate in Q4 with the intention to advance the project to a Preliminary Economic Assessment (PEA) by Q2/23 are forward-looking statements and contains forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that Matrix will use data acquired from various oil and gas operators and that is publicly available to determine porosity, permeability, transmissivity, and volume estimates of lithium-bearing brine, the estimates will be used to complete a NI 43-101 Mineral Resource Estimate and the Company will conduct a thorough exploration program to define a 43-101 compliant resource estimate in Q4 with the intention to advance the project to a Preliminary Economic Assessment (PEA) by Q2/23. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that Matrix will not use data acquired from various oil and gas operators and that is publicly available to determine porosity, permeability, transmissivity, and volume estimates of lithium-bearing brine, the estimates will not be used to complete a NI 43-101 Mineral Resource Estimate and the Company will not conduct a thorough exploration program to define a 43-101 compliant inferred resource in Q4 with the intention to advance the project to a Preliminary Economic Assessment (PEA) by Q2/23 on the timeline as anticipated by management or at all. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/21e5124a-6024-408a-a0c6-7577f17792a3
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International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the "Company" or "ILC") is pleased to announce the complete assay results for Phase 2 of the diamond drilling program at the Raleigh Lake Lithium project near Ignace, Ontario, Canada.
Further to Company news releases dated February 9, March 21, May 17, and June 23, 2022; ILC completed 6,251 metres core drilling at the Raleigh Lake project in two phases. Phase 1 ran during the winter months of March and April 2022 where ten (10) holes were drilled for a total of 2,053 metres. Phase 2 ran from May 12 to June 30, 2022 drilling 4,198 metres in twenty-six (26) holes (Table 1). Phase 2 saw six holes targeting Zone 2 and twenty holes within Zone 1. This brings the total to eight holes drilled at Zone 2 and twenty-eight at Zone 1 in 2022 so far.
Pegmatite 1 Spodumene Zone Intersection Highlights*
including 7.89 metres averaging 2.91% Li2O in the spodumene core zone (from 120.51m);
including 5.35 metres averaging 2.62% Li2O in the spodumene core zone (from 107.15m);
Pegmatite 1 Rubidium Bearing Microcline Intersection Highlights*
* All intervals reported are downhole core lengths. Accurate true widths are unknown at this time but are estimated to be within 70-100% of the reported intervals based on the geometry of the bodies and structural measurements on oriented core.
Phase 2 Drilling Twenty of the twenty-six holes drilled during Phase 2 of the 2022 drilling campaign were cored in Zone 1 and tested the up-dip and eastern extent of Pegmatites 1 and 3. Zone 1 is a stacked set of shallow dipping pegmatite dykes that make up the main target of the first stages of exploration of the Raleigh Lake project.
Zone 1 pegmatites have been defined by drilling and surface exposures in an area exceeding 600 metres x 400 metres for Pegmatite 1. The Phase 2 drill holes were drilled interstitially to historic drill holes and the Company's previous drilling (Figure 1). Pierce points were planned to be at approximately 50 metre step outs from one another in preparation for a maiden resource calculation and to better define the core zone of Pegmatite 1 and its associated rubidium rich component.
The high-grade core of Pegmatite 1 is trending up-dip towards the surface exposure (Figure 1 and 2). This trend provides an additional 250 metres of up-dip extension for the high-grade core from the current drilling, bringing a good portion of the target closer to surface. Additionally, there are several smaller spodumene bearing pegmatites intersected at deeper depths below Pegmatite 1 which the Company interprets as providing significant discovery potential below and to the north of the current target area.
Six holes from Phase 2 were cored into Zone 2 targeting structures interpreted from airborne magnetic data and supported by lithogeochemical surveys showing elevated lithium concentrations. The down dip projection of Pegmatite 2, a small surface exposure of spodumene-bearing pegmatite approximately 750 metres northwest of Pegmatite 1 with a similar structural orientation, was also tested during this program but access to suitable drill sites was restricted due to topographical and terrain constraints. Results were encouraging with some spodumene bearing pegmatitic veins being intersected but more importantly the continuity of the Zone 2 pegmatites, which dip consistently to the southeast, project below Pegmatites 1 and 3 at Zone 1. The down dip potential of these spodumene-bearing dykes will be further investigated in future drill programs.
A summary of the analytical results for Phase 2 is given in Table 2.
Phase 3 Drilling The Company is now preparing for the third phase of drilling in 2022 where an additional 1,500 metres of drilling will test portions of the up-dip component to Pegmatite 1 and approximately 1,000 metres testing a number of shallow targets identified in Zones 5 and 6 that are road accessible.
Table 1: Summary of drill holes cored during Phase 2 of the 2022 drill program at Raleigh Lake.
Table 2: Summary of significant mineralized intersections from Phase 2 Drilling at Raleigh Lake.
** All intervals reported in this table are downhole core lengths. Accurate true widths are unknown at this time but are estimated to be within 70-100% of the reported intervals based on the geometry of the bodies and structural measurements on oriented core.
Figure 1: Approximate surface trace outline of Pegmatite 1 showing pierce points from drilling. Pegmatite 1 appears to have an enriched core trending up dip toward the northwest. The Company will investigate this enrichment trend in upcoming drill programs.
To view an enhanced version of Figure 1, please visit: https://images.newsfilecorp.com/files/3232/137801_dc95b566e437bb6d_003full.jpg.
Figure 2: Cartoon cross section A-A' (Figure 1) illustrating the orientation of Pegmatite 1 and the up-dip projection to its surface outcrop. Pegmatite 1 appears to have an enriched core, a rubidium rich zone in the form of a monomineralic microcline and is thicker than previously interpreted based on the exposed outcrop, which occurs in a heavily vegetated area. Note that smaller pegmatitic veins intersected in the drill holes are not shown.
To view an enhanced version of Figure 2, please visit: https://images.newsfilecorp.com/files/3232/137801_dc95b566e437bb6d_004full.jpg.
John Wisbey, Chairman and CEO of International Lithium Corp. commented:
These are very good results with high grades of lithium and rubidium at Raleigh Lake, and we are increasingly enthusiastic about the prospects for this project. Now that we have our permissions in place for further drilling, we will shortly begin some of the additional drilling that we have been planning.
We should be on track to produce a Maiden Resource Estimate for Raleigh Lake by the end of 2022.
It should be stressed that the above results represent drilling on only about 8% of our 48,500 hectares for this project.
Quality assurance/quality control procedures International Lithium Corp. has implemented a rigorous quality assurance/quality control program to ensure best practices in sampling and analysis of diamond drill core. All assays are performed by Activation Laboratories Ltd. (ActLabs), with sample preparation and analysis carried out in their full-service facility in Dryden, Ontario. Sample preparation involves crushing the entire sample to 80% passing 2 mm, riffle split 250g and pulverize to 95% passing 105 µm (Code RX1).
Primary analysis method: Peroxide (Total) Fusion, ICP-OES & ICP-MS with 55 elements that include detection levels for Li of 15ppm - 50,000ppm and rubidium of 0.4 to 5,000 ppm (Lab code UT7). Sodium peroxide fusion provides total metal recovery and is effective for the decomposition of sulphides and refractory minerals which are common to pegmatite.
Over limit analysis method: Samples that return with results above the instruments detectable levels for lithium (50,000 ppm) and Rb (5,000 ppm) are then re-analyzed by Assay Grade, Peroxide (Total) Fusion (Code 8 Peroxide ICP-OES).
The drill program was under the control of a Professional Geoscientist, registered with Engineers & Geoscientists British Columbia. The Company and its contractors carried out the program under full compliance with COVID-19 protocols based on guidelines issued by Public Health Ontario and provincial health authorities of Ontario to ensure the safety and health, for all personnel.
International Lithium Corp. believes that the world faces a significant turning point in the energy market's dependence on oil and gas and in the governmental and public view of climate change. In addition, we have seen the clear and increasingly urgent wish by the USA and Canada to safeguard their supplies of critical battery metals and to become more self-sufficient. Our Canadian projects are strategic in that respect.
Our key mission in the next decade is to make money for our shareholders from lithium and rare metals while at the same time helping to create a greener, cleaner planet. This includes optimizing the value of our existing projects in Canada and Ireland as well as finding, exploring and developing projects that have the potential to become world class lithium and rare metal deposits.
A key goal has been to become a well-funded company to turn our aspirations into reality, and following the disposal of the Mariana project in Argentina in 2021 and the Mavis Lake project in Canada in January 2022, the Board of the Company considers that ILC is now well placed in that respect with a strong net cash position.
The Company's interests in various projects now consists of the following, and in addition the Company continues to seek other opportunities:
The Company's primary strategic focus at this point is on the Raleigh Lake lithium, rubidium and caesium project in Canada and on identifying additional properties.
The Raleigh Lake project consists of 48,500 hectares (485 square kilometres) of mineral claims in Ontario and is ILC's most significant project in Canada. The exploration results there so far, which are on only about 8% of ILC's current claims, have shown significant quantities of rubidium and caesium in the pegmatite as well as lithium. Raleigh Lake is 100% owned by ILC, is not subject to any encumbrances, and is royalty free.
With the increasing demand for high tech rechargeable batteries used in electric vehicles and electrical storage as well as portable electronics, lithium has been designated "the new oil", and is a key part of a "green tech" sustainable economy. By positioning itself with projects with significant resource potential and with solid strategic partners, ILC aims to be one of the lithium and rare metals resource developers of choice for investors and to continue to build value for its shareholders in the '20s, the decade of battery metals.
Patrick McLaughlin, P. Geo., a Qualified Person as defined by NI 43-101, has verified the disclosed technical information and has reviewed and approved the contents of this news release.
On behalf of the Company,
John Wisbey Chairman and CEO
For further information concerning this news release please contact +1 604-449-6520
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.
Cautionary Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release or other releases contain certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information or forward-looking statements in this or other news releases may include: the effect of results of anticipated production rates, the timing and/or anticipated results of drilling on the Raleigh Lake or Wolf Ridge or Avalonia projects, the expectation of resource estimates, preliminary economic assessments, feasibility studies, lithium or rubidium or caesium recoveries, modeling of capital and operating costs, results of studies utilizing various technologies at the company's projects, budgeted expenditures and planned exploration work on the Company's projects, increased value of shareholder investments, and assumptions about ethical behaviour by our joint venture partners or third party operators of projects. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled "Risks" and "Forward-Looking Statements" in the interim and annual Management's Discussion and Analysis which are available at www.sedar.com. While management believes that the assumptions made are reasonable, there can be no assurance that forward-looking statements will prove to be accurate. Should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Forward-looking information herein, and all subsequent written and oral forward-looking information are based on expectations, estimates and opinions of management on the dates they are made that, while considered reasonable by the Company as of the time of such statements, are subject to significant business, economic, legislative, and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
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The resulting concentrates will then be converted with the Company's Re-2Ox process into EV battery metals .
Coquitlam, BC TheNewswire - September 20, 2022 - Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce that two tonnes of high-grade mineralized material recovered during voluntary surface site rehabilitation at the past-producing Castle and Beaver Mines, in addition to high-grade silver tailings from the mines, will be processed at the Company's Temiskaming Testing Labs (TTL) high-grade bulk processing facility in nearby Cobalt, Ontario.
"Having met with South Korean EV metal buyers last week and with the TTL bulk processing facility fully commissioned, including the newly installed gravity processing plant (see news release September 14, 2022), we have begun processing two bulk samples totaling approximately two tonnes mineralized rock recovered from the waste piles and high-grade silver tailings at our Castle and Beaver Mines. We are doing this to produce a concentrate we can use for further testing of our Re-2Ox process and also to demonstrate the role that the upgraded TTL facility can play in processing high-grade mineralized material from the Cobalt Camp," stated CEO Frank J. Basa, P.Eng.
At TTL, the waste rock material will first be crushed and ground before being screened at 20 mesh to recover potential native silver for processing into silver dore bars using the facility's bullion furnace.
The remaining sulphide material will then pass through the gravity plant to produce a high-grade gravity concentrate, which will be assayed for cobalt, nickel, copper, silver, gold and arsenic (arsenic is one of the metals the US have on their critical metals list).
The high-grade silver tailings will be first screened at 20 mesh to remove any organics and then processed through the TTL gravity plant to produce a concentrate.
The Company plans to send these high-grade gravity concentrates to SGS Canada's laboratory facility in Lakefield, Ontario where, using the Company's proprietary Re-2Ox process, they will be converted into battery metals needed in the EV industry.
In 2018, the environmentally friendly Re-2Ox process was used at SGS Lakefield to produce a technical-grade cobalt sulphate hexahydrate at 22.6%, directly from cobalt-rich gravity concentrates produced from mineralized material removed from the first level of the Castle mine. The 22.6% cobalt sulphate compound exceeded the specifications required at that time by battery manufacturers including Japan's Sumitomo Metals. The gravity concentrates used for this had graded 9.25% cobalt, 5.65% nickel, 49.9% arsenic and 9.25 g/t silver. The Re-20x process recovered 99% of the cobalt and 81% of the nickel from the concentrate while also removing 99% of the arsenic - a long-time issue in the cobalt-rich Cobalt Camp but now a critical metal. (See news releases January 15, 2021 and May 31 and August 15, 2018.)
The Company regards the proprietary Re-2Ox process as a long-term strategic advantage that will facilitate the production of battery metals for the EV market for many years. It is a closed-loop, zero-discharge hydrometallurgical process with no smelting or burning involved, which can meet stringent Canadian and International environmental standards and traceable verification. It is, additionally, more energy efficient than existing processes which use smelting and could have the potential to be used widely in base metals processing especially where high amounts of arsenic are present.
The technical information in this news release was reviewed and approved by Frank J. Basa, P.Eng., a qualified person in accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000m drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.
In May 2020, based on a small initial drill program, the Company published the region's first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.
The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently completed an almost 15,000-metre drill program on the Graal property and an airborne VTEM geophysical survey recently completed at its Lowney-Lac Edouard property; and (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle's high-grade Macassa Mine near Kirkland Lake, Ontario where it is exploring in 2022.
Canada Silver Cobalt's flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. More information at www.canadasilvercobaltworks.com .
"Frank J. Basa"
Frank J. Basa, P. Eng.
Frank J. Basa, P.Eng.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. A detailed discussion of the risk factors encountered by Canada Silver Cobalt is available in the Company's Annual Information Form dated July 19, 2021 for the fiscal year ended December 31, 2020 available under the Company's profile on SEDAR at www.sedar.com .
Copyright (c) 2022 TheNewswire - All rights reserved.
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Coquitlam, BC TheNewswire - September 19, 2022 - Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt") announces that it intends to reprice an aggregate of 3,997,333 outstanding common share purchase warrants ("Warrants") issued pursuant to a private placement that closed on November 25, 2020. The Warrants have an exercise price of $0.80 and an expiry date of November 27, 2022. The Company will amend the Warrant exercise price to $0.1125 per share and extend the Warrant expiry date by two years to November 27, 2024.
The Warrants, as amended, will be subject to an accelerated expiry provision such that if for any ten consecutive trading days (the "Premium Trading Days") during the unexpired term of the Warrants, the closing price of the Company's shares on the TSX Venture Exchange exceeds $0.14, representing the amended Warrant exercise price of $0.1125 plus 25%, the exercise period of the Warrants will be reduced to 30 days, starting seven days after the last Premium Trading Day. The Company will announce any such accelerated expiry date by press release. All other terms of the Warrants remain unchanged.
The amendments described above are subject to approval by the holders of the Warrants and by the TSX Venture Exchange (the "Warrant Amendment Approval").
The Company also announces that if it obtains Warrant Amendment Approval, the Company will institute a warrant exercise incentive program (the "Incentive Program") designed to encourage the early exercise of the 3,997,333 Warrants. Under the Incentive Program, the Company will offer an inducement to each Warrant holder that exercises its Warrants during a period of 30 days from receipt of Warrant Amendment Approval, by the issuance of one additional common share purchase warrant (an "Incentive Warrant") for each Warrant exercised during the 30-day period. Each Incentive Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.15 for a period of one year from the date of Warrant Amendment Approval.
The Incentive Program will commence upon receipt of Warrant Amendment Approval and will expire 30 days thereafter at 4:00 p.m. (Vancouver time). The Incentive Warrants will include an accelerated expiry provision such that if, for any ten consecutive trading days during the one-year term of the Incentive Warrants, the closing price of the Company's shares on the TSX Venture Exchange is at least $0.15, the exercise period of the Incentive Warrants will be reduced to 30 days. The Company will announce any such accelerated expiry date of the Incentive Warrants by press release.
The Company intends to issue an updating news release upon receipt, if any, of Warrant Amendment Approval and commencement of the Incentive Program, outlining the terms and conditions and the method of exercising Warrants pursuant to the Incentive Program. The Incentive Program is subject to approval by the TSX Venture Exchange.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000 m drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.
In May 2020, based on a small initial drill program, the Company published the region's first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.
The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently completed an almost 15,000-metre drill program on the Graal property and an airborne VTEM geophysical survey is being conducted at its Lowney-Lac Edouard property; and (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle's high-grade Macassa Mine near Kirkland Lake, Ontario where it is exploring in 2022.
Canada Silver Cobalt's flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully-owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. More information at www.canadasilvercobaltworks.com .
"Frank J. Basa"
Frank J. Basa, P. Eng.
Frank J. Basa, P.Eng.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. A detailed discussion of the risk factors encountered by Canada Silver Cobalt is available in the Company's Annual Information Form dated July 19, 2021 for the fiscal year ended December 31, 2020 available under the Company's profile on SEDAR at www.sedar.com.
Copyright (c) 2022 TheNewswire - All rights reserved.
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