Brunswick Exploration Inc. (" BRW " or the " Company ") is pleased to announce that it has staked multiple claim groups near Hearst Ontario, totaling 60 claims and 26,318 hectares in an area that is highly prospective for lithium pegmatites. The company has also optioned a spodumene-bearing pegmatite adjacent to the new project (Decoy and Moskito pegmatites) that contains up to 5.15% Li 2 O in historical chip samples. The entire Hearst portfolio includes 226 claims and covers 29,805 hectares.
Mr. Killian Charles, President of BRW, commented: "We are pleased to announce our first acquisition in Ontario that adds to our significant portfolio of properties in Quebec and the Atlantic provinces. Ontario is also very prospective for lithium exploration and we believe the Hearst area is a fantastic location with great access to infrastructure. We have now consolidated several high-priority targets centered around known mineralized LCT pegmatites. These pegmatites are poorly exposed but open in all directions, and there is high potential for additional discoveries in our newly consolidated package. Permits for trenching and drilling programs are in the works for a winter program. We look forward to developing this project and are very excited to explore our new land package while continuing to assess new opportunities to expand our holdings across eastern Canada."
The Hearst Project comprises 1,418 cells and 226 claim blocks with a total surface area of 29,805 hectares, located roughly 15 kilometers south of Hearst, Ontario with easy access by forestry roads. The property package contains over 130 mapped/interpreted pegmatite dykes of which 25 are between 500-2100 metres in strike length. Claims were staked based on preferred geologic environments and historical mapping and most of this area has seen little to no exploration. The project is located within the Quetico Subprovince and contains a variety of evolved S-type granitoids and pegmatites hosted by metamorphosed sediments (paragneisses) and metavolcanics.
The Hearst package includes an option on the Lowther Pegmatite Property which contains 12 cells representing 251 hectares. The property is adjacent to BRW's newly staked ground and was acquired to assess two known LCT pegmatites, the Decoy and Moskito pegmatites. The Decoy pegmatite contains both a spodumene and a lepidolite (lithium-rich mica) zone, and is exposed over 100 metres in strike length with a current true width of 23 meters. It remains open to the east with historical chip samples grading up to 5.15% Li 2 O. The Moskito pegmatite is located 130 metres south of Decoy, is 5 metres wide and is exposed over a strike length of 33 metres, being open in both directions along strike. Neither pegmatite has ever been drilled for lithium evaluation.
The option allows BRW to acquire a 100% interest in the Property, from a private prospector, for a total consideration of $700,000 in cash over a 4-year period upon closing of the formal agreement, under the following terms:
In order to exercise the Option, Brunswick Exploration shall fund an aggregate amount of $1,000,000 in Work Expenditures in accordance with the following schedule:
Brunswick Exploration will grant a 2% NSR of which half of the NSR may be repurchased by BRW for $1,000,000. Following repurchase, the Project would have a residual encumbrance of 1% NSR, and BRW will retain a right of first refusal on the disposal or sale of any portion of the residual NSR.
Brunswick Exploration has concurrently optioned the Lowther II Regional Property from Last Resort Resources Limited, containing 154 claims totaling 3,235 hectares. The property is adjacent to the Lowther Pegmatite Property and the newly staked BRW ground. Due to its proximity to the Decoy and Moskito pegmatites and its favorable geology, it is considered highly prospective for additional discoveries.
The option allows BRW to acquire a 100% interest in the Lowther II Regional Property for a total consideration of $300,000 in cash over a 2-year period upon closing of the formal agreement under the following terms:
Brunswick Exploration will grant Last Resort a 2% NSR on all mineral production from the Property, of which half of the NSR may be repurchased by BRW for $1,000,000. The repurchase will remain valid for a period of five years following the exercise of the Option. Brunswick Exploration will retain a further right to repurchase the remaining 1% NSR for $2,000,000 for a period of two years following the initial repurchase.
The scientific and technical information contained in this press release has been reviewed and approved by Mr. Charles Kodors, Manager Atlantic Canada of Brunswick Exploration. He is a Profession Geologist registered in Ontario, Quebec, New Brunswick, Nova Scotia, and Newfoundland.
The Company is a Montreal-based mineral exploration venture listed on the TSX-V under symbol BRW. The Company is focused on grassroots exploration for metals necessary to decarbonization and energy transition with a particular focus on lithium. The company is focused on rapidly advancing the most extensive grassroot lithium exploration claim package in Canada.
Neither 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 this release
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation's public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. 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 news release.
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Investing in commodities can prove to be quite risky. Investors are often plagued with the ups and downs of the commodities cycle, dealing with everything from price declines to reduced cash flow. However, the commodities market can be an excellent addition to an investment portfolio — it simply takes a wise investment strategy to capitalize on the highs of the market.
Portfolio diversification allows mining companies to hedge against price declines and minimize the risks associated with the fluctuating values of a singular commodity by expanding its portfolio across multiple commodity markets. As a result, mining companies with diversified portfolios may prove to be an interesting investment for investors seeking less risky commodity investments.
Brunswick Exploration (TSXV:BRW) has a diversified portfolio of highly prospective critical minerals properties in Eastern Canada. The company offers shareholders access to a highly experienced management team and board of directors with a focus on grassroot exploration.
The company's exploration team is led by Robert Wares, founder of the Osisko Group of Companies. Wares is an established and award-winning professional geologist with over 35 years of experience in mineral exploration and development. Wares has a proven track record of world-class discovery, including the Canadian Malartic bulk tonnage gold mine, which later became one of the largest-producing gold mines in Canada.
Brunswick Exploration's notable projects include Pontiac Lithium and North Shore Lithium in Quebec, as well as the Catamaran property in New Brunswick and the NS Critical Minerals package in Nova Scotia. The company also has the Fundy Gold and Bathurst Mining Camp.
The company has a tightly held structure with strong shareholder support. Brunswick Exploration's capital structure consists of 131,369,712 shares outstanding, 12,500,000 warrants, and 3,600,000 options for a total of 147,469,712 fully-diluted shares.
The Fundy Gold project is a high-grade, multi-ounce and gold-polymetallic project, located west of the city of Saint John in Southern New Brunswick, Canada. The project consists of 40 kilometers of strike length along the Fundy Shear Zone, a regional, deep-rooted, and unexplored Appalachian fault system. The project includes the Little Lepreau, Roger's Lake, and Shadow Lake sub-property.
The Fundy Gold project has seen minimal drilling over the years and remains underexplored. The company is currently conducting a significant prospecting initiative across the entire land area to identify new areas of interest.
The properties comprise 87 licenses and 6,524 claims, with a total surface area of 105,624 hectares, located roughly 30 kilometers west of Halifax. The properties contain over 100 pegmatite dykes within the South Mountain Batholith (SMB) that have seen no exploration for lithium — spodumene mineralization. Government of Nova Scotia till samples were taken at roughly two-kilometer spacing over areas underlain by multiple Devonian granitoids of the SMB as well as Cambrian Meguma sediments. Multiple till and rock samples from the government database returned highly anomalous lithium and tin values. It is important to note that the East Kemptville Tin mine and the Brazil Lake lithium deposit are within, or in close proximity to, the SMB.
The Properties comprise 8 claims and 1,821 units with a total surface area of 40,363 hectares. They are located roughly 30 kilometers south east of Plaster Rock and roughly 30 kilometers east of Florenceville-Bristol. Including previously staked ground, the property is host to over 60 pegmatites that have seen little to no exploration work. Till samples collected by the Government of New Brunswick were taken at roughly two-kilometer spacing and are underlain by pegmatitic granites and gneissic to migmatitic sediments from the Devonian and Ordovician. Highlights from the survey include an 11-kilometer till anomaly containing nine samples between 53 to 103 ppm of lithium, neighbouring known beryllium and pegmatite occurrences.
Brunswick Exploration has identified approximately 30 pegmatite dykes and sills on its North Shore Lithium Project, with a minimum strike length of 1,200 metres, as well as dozens of smaller pegmatite dykes. The longest pegmatite identified through satellite imagery and geological compilation measures approximately 14 kilometres in strike length. None of the pegmatites on the North Shore Lithium Project have seen exploration for lithium and all consist of S-type pegmatites containing any combination of indicator minerals, including muscovite, garnet, tourmaline and beryl. Lithium-bearing LCT pegmatites are metal enriched S-type pegmatites that may also contain cesium, tantalum, beryllium, and tin mineralization. Brunswick Exploration will begin a prospecting campaign in this area in late Q3 2022, first focusing its efforts on the previously-disclosed Pontiac Lithium Project.
The Bathurst Mining Camp project is a high-grade base metal VMS project located in the Bathurst Mining Camp, south of the city of Bathurst in New Brunswick. The Bathurst Mining Camp project consists of the Key Anacon and Gilmour South deposits found in the eastern portion of the Bathurst Mining Camp. The property features zinc-lead-copper-silver-bearing sulphide mineralization, host-rock types and alteration that mimics deposits found in the prolific Brunswick Belt. Exploration in the camp will focus on the highly prospective Brunswick Belt.
The Lac Edouard project is a nickel-copper project located in Quebec.
Drilling was conducted on the property in summer 2021. The company is currently awaiting assay results from the summer drilling program.
The company is currently prospecting and conducting geological mapping on the property. A ground geophysical survey began in November 2021 to confirm an airborne anomaly.
Robert Wares is a professional geologist with over 35 years of experience in mineral exploration and development. He was responsible for the discovery of the Canadian Malartic bulk tonnage gold mine. The Canadian Malartic bulk tonnage gold mine was subsequently developed by Osisko Mining Inc. into one of Canada's largest gold producers. Among other awards, Wares was a co-winner of the Prospectors and Developers Association of Canada's "Prospector of the Year Award" for 2007. Wares was also named, together with John Burzynski and Sean Roosen as "Mining Men of the Year" for 2009 by the Northern Miner. Wares also sits on the board of directors of Osisko Metals Inc. Wares has a Bachelor of Science and an Honorary Doctorate in Earth Sciences from McGill University.
From 2017 to 2021, Killian Charles worked as VP of corporate development for Osisko Metals. Mr. Charles was previously the manager of corporate development at Integra Gold Corp. Integra Gold Corp was an advanced stage gold development company until it was acquired by Eldorado Gold in July of 2017. Before that, he worked as a mining analyst at Industrial Alliance Securities and Laurentian Bank Securities. As a mining analyst, Mr. Charles covered small and mid-cap exploration and production companies. Mr. Charles holds a Bachelor of Science with a Major in Earth and Planetary Sciences from McGill University.
Jeffrey Hussey is a P. Geo. who has 32 years of professional experience in the mining industry. He has worked in both open pit and underground mine operations at various stages of mine life from start-up to mine closure. More recently, Hussey worked in mineral exploration and development projects. He spent nineteen years with Noranda/Falconbridge. His mine operation experience includes work at the Brunswick No. 12 mine, Gaspé Copper mines, the Antamina mine start-up in Peru and the Raglan mine in Northern Quebec. Hussey was the senior scientist with the Mining Technology Group at the Noranda Technology Center in 2002. In this role, Hussey enhanced his network into the metallurgical research and mining innovation fields. Hussey is president and COO of Osisko Metals. Hussey has a Bachelor of Science in Geology from the University of New Brunswick.
Amy Satov is the senior legal counsel of Nuvei Technologies Corp. since April 2020. Satov holds a B.A., LL.B. and M.B.A. Satov currently serves as a director and chair of multiple committees at various organizations, including the corporate governance committee of Osisko Mining Inc., the compensation committee of O3 Mining Inc. and the corporate governance and compensation committee of Brunswick Exploration Inc. (. Formerly, she also served as chief executive officer of BL Solutions Inc., a national lighting distributor, from November 2019 to March 2020. Satov also served as a director and chair of the audit committee of Cannara Biotech Inc. up to January 2020 and the chief executive officer of Litron Distributors Ltd. up to April 2020.
Before 2012, Satov was the executive vice president of legal, compliance and distribution and corporate secretary of DundeeWealth Inc. DundeeWealth Inc. is a wealth management company with $80 billion of assets under management that was acquired by The Bank of Nova Scotia in 2011. In this role, Satov oversaw all legal and compliance matters and was actively involved in DundeeWealth's expansion into Europe and the U.S. Satov also sat on various subsidiary boards of DundeeWealth. She advised on all M&A activities as well as securities, regulatory and other corporate commercial matters at DundeeWealth. In 2010, Satov was recognized by Strathmore's "Who's Who" for excellence and achievement in her profession.
Mathieu Savard is a graduate of the Universite du Quebec a Montreal with a bachelor's degree in earth sciences. Savard has over 20 years of experience in the mining industry. Savard previously served as the senior vice president of exploration at Osisko Mining. Before joining Osisko Mining in 2016, Savard was a senior member of the Osisko Exploration James Bay, Virginia Mines and Virginia Gold Mines teams. Savard was a key member of the Virginia team which received the Association de l'Exploration Miniere du Québec's Prospector of the Year Award in 2004. The team also received the PDAC's prestigious Bill Dennis Award in 2006 for the discovery of the Eleonore gold deposit. Along with the Osisko Mining management and exploration team, Savard also received the AEMQ 2017 Discovery of the Year Award for the discovery of the Lynx deposit at Windfall. Savard is a registered P.Geo as a member of the Ordre des Géologues du Québec. Savard is also chairman of the board and a director of the AEMQ.
André Le Bel was appointed as vice president of legal affairs and corporate secretary of Osisko Mining in February 2015. From November 2007 to June 2014, Le Bel was vice president of legal affairs and corporate secretary of Osisko Mining Corporation.* Le Bel was the vice president of legal affairs at IAMGOLD Corporation from November 2006 to October 2007. Before November 2006, Le Bel was senior legal counsel and assistant corporate secretary of Cambior Inc. He is also the corporate secretary of Falco Resources Ltd.
Pierre Colas has been a corporate director since 2014. He was previously vice president of corporate financing at Industrielle Alliance Securities from 2009 to 2014. He was also the vice president of corporate financing at Desjardins Securities from 2005 to 2009.
Company is working with Haywood Securities to secure funding to advance the NICO Project
Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to announce that, due to the current economic and capital market volatility, it has secured an additional extension to the option to purchase the JFSL Field Services ULC (" JFSL ") brownfield site in Lamont County, Alberta (see news releases, dated January 24, 2022 and July 14, 2022). Fortune plans to construct a hydrometallurgical refinery at this site for its vertically integrated NICO cobalt-gold-bismuth-copper critical minerals project (" NICO Project "). The JFSL facility is a former steel fabrication plant located on 76.78 acres of lands in Alberta's Industrial Heartland northeast of Edmonton and has 42,000 square feet of serviced shops and buildings adjacent to the Canadian National Railway. The JFSL site is also close to services, sources of reagents, and a commutable pool of engineers and skilled chemical plant workers to materially reduce capital and operating costs for the planned NICO Project development.
Pursuant to the option agreement, Fortune can acquire the JFSL site and facilities for C$5.5 million. The term of the option has now been extended in monthly increments by Fortune paying JFSL C$15,000 per month up to December 31, 2022. During the extension period, JFSL can solicit competing offers for the facility, subject to Fortune's right to complete its purchase on the agreed terms by the end of the month for any extension period and/or Fortune's right of first refusal to match a competing offer.
The NICO refinery would process metal concentrates from the planned NICO cobalt-gold-bismuth-copper mine and concentrator in the Northwest Territories ("NWT") enabling Fortune to become a vertically integrated producer of cobalt sulphate needed to make the cathodes of lithium-ion batteries used in electric vehicles, portable electronics and stationary storage cells. The refinery would also produce bismuth ingots and oxide, an ‘Eco-metal' used in the automotive and pharmaceutical industries and with growing demand as an environmentally safe and non-toxic replacement for lead in free-machining steels and aluminum, brasses and solders used in potable drinking water sources and electronics, ceramic glazes, radiation shielding, glass, ammunition, and fishing weights, and environmentally safe plugs to decommission oil and gas wells. The Mineral Reserves for the NICO deposit also contain more than one million ounces of gold, and copper as a minor by-product. The vertically integrated NICO Project is an advanced development stage critical minerals development asset that has already received environmental assessment approval and the major mine permits for the facilities in the NWT. The project has also been assessed in positive Feasibility and Front-End Engineering and Design (" FEED ") studies that will be updated to reflect the new refinery site and recent project optimizations.
For more detailed information about the NICO Mineral Reserves and certain technical information in this news release, please refer to the Technical Report on the NICO Project, entitled "Technical Report on the Feasibility Study for the NICO-Gold-Cobalt-Bismuth-Copper Project, Northwest Territories, Canada", dated April 2, 2014 and prepared by Micon International Limited which has been filed on SEDAR and is available under the Company's profile at www.sedar.com. The disclosure of scientific and technical information contained in this news release has been approved by Robin Goad, M.Sc., P.Geo., President and Chief Executive Officer of Fortune, who is a "Qualified Person" under National Instrument 43-101.
About Fortune Minerals: Fortune is a Canadian mining company focused on developing the NICO cobalt-gold-bismuth-copper critical minerals project in the NWT and Alberta. Fortune also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 km north of the NICO Deposit and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator.
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This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities legislation. This forward-looking information includes statements with respect to, among other things, the exercise by the Company of its option to purchase of the JFSL site, the successful construction and completion of the proposed hydrometallurgical refinery at the JFSL site, and the Company's plans to develop the NICO Project, including the successful the development and construction of the planned NICO cobalt-gold-bismuth-copper mine and concentrator. Forward-looking information is based on the opinions and estimates of management as well as certain assumptions at the date the information is given (including, in respect of the forward-looking information contained in this press release, assumptions regarding: the successful completion of the Company's due diligence investigations on the JFSL site, the Company's ability to secure the necessary financing to fund the exercise of the option and complete the purchase of the JFSL site, the Company's ability to complete construction of a NICO Project refinery; the Company's ability to arrange the necessary financing to continue operations and develop the NICO Project; the receipt of all necessary regulatory approvals for the construction and operation of the NICO Project, including the planned NICO cobalt-gold-bismuth-copper mine and concentrator and the timing thereof; growth in the demand for cobalt; the time required to construct the NICO Project; and the economic environment in which the Company will operate in the future, including the price of gold, cobalt and other by-product metals, anticipated costs and the volumes of metals to be produced at the NICO Project). However, such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the risks that the COVID-19 pandemic or global geopolitical situations may interfere with the Company's ability to continue development of the NICO Project, the Company may not be able to complete the purchase of the JFSL site and secure a site for the construction of a refinery, the Company may not be able to finance and develop NICO on favourable terms or at all, uncertainties with respect to the receipt or timing of required permits, approvals and agreements for the development of the NICO Project, including the related hydrometallurgical refinery, the construction of the NICO Project may take longer than anticipated, the Company may not be able to secure offtake agreements for the metals to be produced at the NICO Project, the Sue-Dianne Property may not be developed to the point where it can provide mill feed to the NICO Project, the inherent risks involved in the exploration and development of mineral properties and in the mining industry in general, the market for products that use cobalt or bismuth may not grow to the extent anticipated, the future supply of cobalt and bismuth may not be as limited as anticipated, the risk of decreases in the market prices of cobalt, bismuth and other metals to be produced by the NICO Project, discrepancies between actual and estimated Mineral Resources or between actual and estimated metallurgical recoveries, uncertainties associated with estimating Mineral Resources and Reserves and the risk that even if such Mineral Resources prove accurate the risk that such Mineral Resources may not be converted into Mineral Reserves once economic conditions are applied, the Company's production of cobalt, bismuth and other metals may be less than anticipated and other operational and development risks, market risks and regulatory risks. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221003005699/en/
Fortune Minerals Limited Troy Nazarewicz Investor Relations Manager info@fortuneminerals.com Tel: (519) 858-8188 www.fortuneminerals.com
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TSX Venture Exchange (TSX-V): LIT Frankfurt Stock Exchange (FSE): OAY3 OTCQB Venture Market (OTC): PNXLF
Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF) ("Argentina Lithium" or the "Company") reports positive lithium brine values from the second diamond drill hole at its Rincon West Project in Salta Province Argentina . The Rincon West project covers 2,951.5 hectares of the salar basin, located west of the adjacent Rincon Project owned by Rio Tinto. The property is currently permitted for up to 9 exploration drill holes. The fourth exploration hole is currently in final steps to completion. The brine analytical results from the second hole have been received and are reported below.
"The results of the second exploration hole demonstrate remarkably consistent lithium grades, when compared to the first. RW-DDH-002 results reveal an impressive concentrated brine aquifer, tested with packer sampling over ~77% of the interval between 182 and 305 metre depths, with lithium values ranging from 337 to 367 mg/litre. Additional concentrated brines with lower lithium contents were also recovered from above this 118 metre interval. Drilling thus far validates that the adjacent lithium salar extends under our properties, with consistently high lithium grades. The drill program will continue as planned with the aim of delineating an initial lithium mineral resource." stated Miles Rideout , V.P. of Exploration.
The results of the brine analyses and the respective intervals from which brine was recovered are shown in Table 1. Drill collar information is presented in Table 2.
Map 1 presents a map of the Rincon West property showing the positions of the four initial exploration holes, including RW-DDH-002 and the previously announced RW-DDH-001 (see July 13, 2022 News Release ). Exploration drilling is ongoing. The map presents the completed drill locations overlaid on the conductive zones delineated with geophysics (see May 2, 2022 News Release ).
Table 1: Interval data and results of brines analyses for lithium, potassium, and magnesium
*Drill hole RW-DDH-002 was drilled vertically to a depth of 323m below surface; the salar strata are believed to be flat lying resulting in reported intervals approximating true thickness
Hole RW-DDH-002 was executed with diamond drilling (HQ-size), permitting the extraction of core samples of the salar basin formations and recovery of brine samples, where possible. Drilling was conducted between July 7 and July 22 , stopping at 323 metres depth in igneous basement rock units. Final sampling and lining the hole with 2" diameter PVC filters and casing were completed by July 25, 2022 . Drilling was carried out by Salta-based AGV Falcon Drilling SRL, under the supervision of Argentina Lithium's geologists.
Brine sampling was conducted using a single packer sampling unit during drilling. Upon completion of the drilling, selected intervals of the hole were re-sampled with a double packer system, permitting isolation of certain intervals. The packer sampling method allows the collection of brine samples at specific depths while sealing the hole at the top and bottom of the interval.
As anticipated by the exploration team, fresh water layers were found to overly the much denser concentrated brine aquifer. Recovered brine samples indicate relatively fresh water in the interval 61.3 to 65.2 metres depth, transitioning to brackish in the interval 67.3 to 71.2 m depth. Brine concentration increased below this level, as reported in Table 1. A number of additional packer sampling attempts from intervals outside of those reported in Table 1 did not return a sufficient quantity of brine considered representative for analysis.
No casing was required during drilling. Poorly consolidated gravels were logged from the surface to 23 m depth, where sandy sediments began. Black and dark sands were logged to 66 m depth, at which point sulphates appear, likely indicating the presence of the salar formation. Sandy units with bands of sulphates and gravels were logged from 66 m to 90 m depth, entering a silt layer logged between 90 m and 92 m . Dark sands with abundant layers of clays and occasional gravels were logged from 92 m to 154.25 m depths. Dark sands with abundant interbedding of sulphates continued from 154.25 m to 199 m depth. Sands with intercalated gravels were logged between 199 m and 236 m , followed by gravels logged to 245 m depth. At 245 m , the drill entered aplite (fine-grained igneous rock), displaying varying degrees of fracturing. Sulphates were observed from 66 m depth through the sediment units and within some fractures in the aplite. Metamorphosed quartzite was encountered from 293m , the upper 10 m with significant fracturing. The hole was stopped in metamorphosed quartzite at 323 m depth. All core samples recovered in drilling are retained for logging and are available for subsequent laboratory evaluation of factors such as total and effective porosity, permeability and other measurable characteristics of the aquifer formation.
Samples of brine were submitted for analysis to Alex Stewart International Argentina S.A. ("Alex Stewart"), the local subsidiary of Alex Stewart International, an ISO 9001:2008 certified laboratory, with ISO 17025:2005 certification for the analysis of lithium, potassium and other elements. Alex Stewart employed Inductively Coupled Plasma Optical Emission Spectrometry ("ICP-OES") as the analytical technique for the primary constituents of interest, including boron, calcium, potassium, lithium, and magnesium. Measurements in the field included pH, electrical conductivity, temperature and density. The quality of sample analytical results was controlled and assessed with a protocol of blank, duplicate and reference standard samples included within the sample sequence. In addition, 11 samples including 1 blank and two standards were submitted for re-analysis at Alex Stewart. The blank (2), duplicate (1) and re-submitted samples (8) analysed at Alex Stewart all reported in the acceptable range. A low-grade and medium-grade reference standard were included in the initial and second submission to Alex Stewart. The low-grade reference standard analyses were within the acceptable range of 2 standard deviations (SD) and with less than 2% relative percent difference (RPD); the medium-grade standard returned results less than 3 SD, but with a low RPD (1.75% and -3.25%).
As well, two duplicate check samples were submitted to SGS Argentina and also analyzed by ICP-OES. Initial results were significantly higher than expected and the samples were re-run in addition to a low-grade standard sample. The lithium grades from the re-analysis of the check samples correlated well with the grades reported by Alex Stewart; the standard sample, however, returned a grade 15% below the acceptable lithium value for the standard. Further investigation to determine the cause of this standard failure is ongoing.
The Rincon West Project comprises the following properties: Villanoveño II and Demasia Villanoveño II, totaling 2491 hectares, are held under an option whereby the Company can earn a 100% interest, as described in the Company's September 28, 2021 News Release . Argentina Lithium has also purchased the 460.5 hectare Riconcita II property, adjacent to Villanoveño II, (see August 25, 2022 News Release ).
On August 12, 2022 , the Company adopted a 10% rolling stock option plan (the "Stock Option Plan") and a restricted share unit, performance share unit and deferred share unit plan (the "Equity Incentive Plan"). The number of common shares of the Company reserved for issuance under the Stock Option Plan cannot exceed 10% of the number of common shares of the Company that are outstanding on each applicable grant date, and 7,416,012 common shares of the Company are reserved for issuance under the Equity Incentive Plan.
David Terry , Ph.D., P.Geo. is the Company's Qualified Person as defined in National Instrument 43-101. Dr. Terry is responsible for oversight of the Company's early-stage exploration at the Rincon West property. The disclosure in this news release has been reviewed and approved by Dr. Terry.
Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them toward production in order to meet the growing global demand from the battery sector. The management group has a long history of success in the resource sector of Argentina and has assembled a first-rate team of experts to acquire and advance the best lithium properties in the "Lithium Triangle". The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
"Nikolaos Cacos" _______________________________ Nikolaos Cacos , President, CEO and Director
Neither 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 this release.
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's plans for its mineral properties; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and future exploration and operating plans are forward-looking statements.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the impact of COVID-19; risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
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SOURCE Argentina Lithium & Energy Corp.
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Giyani Metals Corp. (TSXV: EMM, GR: A2DUU8) (" Giyani " or the " Company "), developer of the K.Hill battery grade manganese project in Botswana (" K.Hill Battery Manganese Project " or " K.Hill "), is pleased to announce the results of a life cycle assessment (" LCA ") prepared by Minviro Limited (" Minviro ") based on the feasibility study for K.Hill (" FS ").
The goal of this LCA is to determine the significant project and process parameters contributing to the GWP from production of HPMSM at K.Hill. The LCA is a cradle-to-gate study, meaning the product GWP is assessed from the point of ore and waste rock extraction (cradle) to the end-gate (a set point at the end of processing, with HPMSM being ready for transport to customers), modelled in the two distinct stages of mining and processing using data developed as part of the FS.
The total GWP of 3.2 kg CO 2 eq. per kg HPMSM can be classified into scope 1, 2 and upstream scope 3 emissions:
The LCA will support Giyani in understanding the GWP of the K.Hill Battery Manganese Project, its main drivers and inform decision-making on advancing project development. The main impact driver of the GWP is the consumption of electricity from the national grid in Botswana, corresponding to approximately 37% of total GWP. The plan, as laid out in the FS for K.Hill, includes a 4.5 MW photovoltaic solar plant and Giyani is currently assessing various options to further reduce the GWP for K.Hill and to develop a roadmap for decarbonization.
Robin Birchall, CEO of the Company, commented:
"The results of the LCA confirm the potential of the K.Hill Battery Manganese Project to be a low-carbon producer of a critical battery raw material. One of Giyani's key strengths will be our ability to produce HPMSM directly from our high-grade manganese oxide ore without the need for calcining or electrorefining, both potentially significant emitters of greenhouse gases.
In addition to calculating our global warming potential, the LCA will also act as a guide to help develop a roadmap to decarbonize our operation, which is part of our long-term strategic objective. Further information on K.Hill and its development plan will be available in the FS, which is expected to be published in the coming weeks."
Giyani is a mineral resource company focused on becoming one of Africa's first low-carbon producers of high-purity manganese sulphate monohydrate (" HPMSM ") precursor materials directly from manganese oxide ore, used by battery manufacturers for the expanding electric vehicle market through the advancement of its manganese assets in the Kanye Basin in south-eastern Botswana, (the " Kanye Basin Prospects ") through its wholly-owned Botswana subsidiary Menzi Battery Metals (Pty) Limited. The Company's Kanye Basin Prospects consist of eight prospecting licences and include the past producing Kgwakgwe Hill mine and project, referred to as the K.Hill Battery Manganese Project, the Otse and Lobatse manganese prospects, both of which have seen historical mining activities.
Qualified Persons / NI 43-101 Disclosures
Mr. Jacques du Toit CEng. PrEng. MscEng. PMP is a qualified person, as defined by National Instrument 43-101. Mr. du Toit is the Company's VP, Technical Services and has reviewed and approved the scientific and technical content contained in this press release but is not independent for the purposes of NI 43-101.
Minviro (www.minviro.com) is a London based and globally recognized consultancy and technology company specialized in carrying out life cycle assessments in the technology metals space. The company provides quantitative environmental and climate impact data for mineral resource projects, battery manufacturers and original equipment manufacturers to make environmentally informed decisions.
On behalf of the Board of Directors of Giyani Metals Corp.
Robin Birchall CEO, Director +44 7711 313019 rbirchall@giyanimetals.com
George Donne VP Business Development +44 7866 591 897 gdonne@giyanimetals.com
Judith Webster Corporate Secretary +1 416 453 8818 jwebster@giyanimetals.com
Neither the TSX Venture Exchange (the "TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation S promulgated under the U.S. Securities Act ("U.S. Persons"), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities to, or for the account of benefit of, persons in the United States or U.S. Persons.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements in this news release, other than statements of historical fact, that address events or developments that Giyani expects to occur, are "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast", "budget" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. Specific forward-looking statements and forward-looking information herein includes completion of receipt of TSXV approval for the private placement and completion of the private placement.
All such forward-looking statements are based on the opinions and estimates of the relevant management as of the date such statements are made and are subject to certain assumptions, important risk factors and uncertainties, many of which are beyond Giyani's ability to control or predict. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. In the case of Giyani, these facts include their anticipated operations in future periods, planned exploration and development of its properties, and plans related to its business and other matters that may occur in the future. This information relates to analyses and other information that is based on expectations of future performance and planned work programs.
Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation: inherent exploration hazards and risks; risks related to exploration and development of natural resource properties; uncertainty in Giyani's ability to obtain funding; commodity price fluctuations; recent market events and conditions; risks related to the uncertainty of mineral resource calculations and the inclusion of inferred mineral resources in economic estimation; risks in how the world-wide economic and social impact of COVID-19 is managed; risks related to governmental regulations; risks related to obtaining necessary licences and permits; risks related to their business being subject to environmental laws and regulations; risks related to their mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to competition from larger companies with greater financial and technical resources; risks relating to the inability to meet financial obligations under agreements to which they are a party; ability to recruit and retain qualified personnel; and risks related to their directors and officers becoming associated with other natural resource companies which may give rise to conflicts of interests. This list is not exhaustive of the factors that may affect Giyani's forward-looking information. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information or statements.
Giyani's forward-looking information is based on the reasonable beliefs, expectations and opinions of their respective management on the date the statements are made, and Giyani does not assume any obligation to update forward looking information if circumstances or management's beliefs, expectations or opinions change, except as required by law. For the reasons set forth above, investors should not place undue reliance on forward-looking information. For a complete discussion with respect to Giyani and risks associated with forward-looking information and forward-looking statements, please refer to Giyani's Annual Information Form, all of which are filed on SEDAR at www.sedar.com .
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ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the "Company", or "ACME"), announced today that Company CEO, Stephen Hanson has been invited to present at the Conference on Mining and its Role in EV Demand, presented by Maxim Group LLC and hosted by M-Vest, on Tuesday, October 4th at 11 A.M. EDT.
Tate Sullivan, Industrials Research Analyst at Maxim Group, will host panel discussions with mining companies to discuss global supply trends of various materials that industrial companies need to buy in order to satisfy future demand for batteries and electric vehicles. Panels will discuss mining developments in the U.S. for lithium, nickel, and other mineral resources. Executives from mining companies will provide different perspectives on the long-term outlook for demand from battery and electric vehicle customers.
This conference will be live on M-Vest. To attend, just sign up to become an M-Vest member.
Click Here to Reserve your seat
11:00 a.m. EDT - Demand Outlook for Multiple Materials For Batteries & EVs (Cobalt, Copper, Graphite & Nickel)
12:30 p.m. EDT - U.S. Development of Lithium Resources for EVs
Founded in 2002, Maxim Group is a leading full-service investment bank, securities and wealth management firm headquartered in mid-town Manhattan providing a comprehensive array of financial services including investment banking, global institutional sales, equity research, fixed income and derivative sales & trading, merchant capital, private wealth management, and prime brokerage services to a diverse range of corporate clients, institutional investors and high-net-worth individuals. Maxim Group is a registered broker-dealer with the U.S. Securities and Exchange Commission and the Municipal Securities Rulemaking Board (MSRB).mmission and the Municipal Securities Rulemaking Board (MSRB).
Led by an experienced team, ACME Lithium is a mineral exploration Company focused on acquiring, exploring, and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in projects located in Clayton Valley and Fish Lake Valley, Esmeralda County Nevada, and at Cat-Euclid and Shatford Lakes in southeastern Manitoba.
On behalf of the Board of Directors
Steve Hanson Chief Executive Officer, President and Director Telephone: (604) 564-9045 info@acmelithium.com
Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release. This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur and in this news release include but are not limited to the attributes of, timing for and expected benefits to be derived from exploration, drilling or development at ACME's project properties. Information inferred from the interpretation of drilling, sampling and other technical results may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138848
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Forward Water Technologies Corp. ("Forward Water" or the "Company") (TSXV:FWTC) announces that Mr. Grant Thornley, Vice-President of Engineering Sales as well as Alessandra Rodriguez, Research Engineer will be exhibiting live at WEFTEC in New Orleans from October 8 to October 12, 2022
Location: New Orleans Morial Convention Center, Booth #4047 in Hall F in the Canadian Pavillion
Link: https://www.weftec.org
WEFTEC 2022 is an event where water professionals from around the world showcase the best in water quality education, the latest technologies, and trends. The Company is proud to present its patented forward osmosis solution that has the potential to significantly reduce water usage in many industrial use applications at this water quality event. Vice-President of Engineering Sales, Mr. Thornley comments "We are excited to be exhibiting at WEFTEC this year, as it provides us the opportunity not only to promote our technology and solution offerings but also to meet with our representatives and to network with industry experts".
About Forward Water Technologies Corp.
Forward Water Technologies Corp. is a publicly traded Canadian company dedicated to saving the earth's water supply using its patented Forward Osmosis technology. The Company was founded by GreenCentre Canada, a leading technology innovation centre supported by the government of Canada. The Company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors. For more information, please visit www.forwardwater.com.
About the WEFTEC Water Quality Event 2022
The WEFTEC is celebrating its 95th annual Technical and Exhibition Conference this year in New Orleans. This is the largest water/wastewater conference in North America, providing access to the most cutting-edge technologies in the field. With thousands of water and wastewater professionals from around the world in attendance each year, sharing their experience with trends, water quality and proven solutions. For more information, please visit https://www.weftec.org.
Mr. Howie Honeyman, Ph.D., President & Chief Executive Officer Forward Water Technologies Corp. howie.honeyman@forwardwater.com
For further information please contact:
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 news release.
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.
Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to the need to obtain required approvals from regulatory authorities; stock market volatility as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
SOURCE: Forward Water Technologies Corp.
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Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) ("Spey" or the "Company") is pleased to announce that it has entered into an agreement (the " Agreement ") to acquire all of the shares of Lithium Energy Metal Corporation (" LEM "), which owns the following four (4) projects in the James Bay Region of Quebec:
On and subject to the conditions set forth in the Agreement, in consideration for the Acquisition, the Company will issue an aggregate of 8,900,000 common shares to the shareholders of LEM (collectively).
Closing of the Acquisition is subject to the Company being satisfied with its due diligence review, as well as certain customary conditions, including receipt of all necessary regulatory and other approvals.
The technical and scientific information contained within this news release has been reviewed and approved by Robert Lane, MSc., P.Geo., who is a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Spey Resources is a Canadian mineral exploration company which holds two option agreements to acquire 100% interest in the Candela II and Pocitos II lithium brine projects, and a 20% interest in the Pocitos I lithium project, all of which are located in the Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.
For more information, please contact:
nader@speyresources.ca 778-881-4631
Cautionary Note Regarding Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties, including with respect to with respect to the Acquisition and the Company's business and plans, including with respect to undertaking further acquisitions . The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
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