ROUYN-NORANDA, QC, Oct. 16,
2023 /CNW/ - Comet Lithium Corporation (TSXV: CLIC)
(FRANKFURT: 8QY) ("Comet
Lithium" or the "Company") is pleased to announce that
it will be commencing a lithium focused exploration program at the
100% owned Troilus East property, located in Eeyou-Istchee Baie
James, Québec. The past exploration program completed at Troilus
did not take lithium into consideration but it succeeded in
identifying lithium anomalies. The new work program will target
these areas for pegmatite prospecting.
The Troilus property was initially explored in 2020 for gold and
copper, however, upon review of the database and results obtained
from the program, five high priority target areas were identified
for Lithium potential. More importantly, all five targets follow a
northeast alignment along the south-eastern flank of the Parker
granite intrusion over a strike length of about 20 kilometres.
Further, the targets generated from the historical results are
based on a collection of samples that carried lithium values up to
248 ppm.
Mansoor Jan, Interim President
and CEO of Comet Lithium states, "While Liberty is the flagship
property for Comet, we have decided that a small program at Troilus
East is also worth advancing, as it is strategically located
in an emerging lithium belt which has already stimulated the
interest of major players such as Sayona Mining. We believe that we
have a head start with Troilus East considering our previous
exploration on the property with initial work highlighting the
presence of lithium in the background rocks. In addition, the
property is adjoining the Troilus Gold copper-gold deposit and can
benefit from an accessibility standpoint."
TROILUS EAST LITHIUM HIGHLIGHTS:
- The Troilus East property has never been explored for
lithium despite being located proximate to strike and inside the
same geological units as the lithium bearing pegmatites of Lac
Moblan located about 50 kilometres south of the property.
- Geological mapping at Troilus East shows granitic dykes
and occasional pegmatite veins intruded in mafic rocks. This
context is well known to host spodumene bearing pegmatites, the
main lithium carrier in the James
Bay area.
- 95 samples among 475 surface samples across the Troilus
East property, are anomalous in lithium above 30 ppm and up
to 248 ppm. By comparison, the same range of lithium grade was
found inside 300 metres from the Moblan pegmatite system (Ref:
Schmitt L., 2009. Rapport d'exploration 2009, propriété Moblan
(1331), SNRC 32J10, canton 1222 secteur de Frotet. GM-64838,
secteur de Frotet).
- They are mostly composed of basalt with quartz veinlets.
This initial prospecting was oriented toward gold-copper and did
not consider pegmatites as prospective targets; meaning no
pegmatites observed in 2020 were sampled.
- The five lithium target areas have been identified based on
clusters of lithium values. Two of them are located inside the
Parker granite, while two others are located close
to lenticular granitic intrusion-hosted mafic terrains.
- Elements such as scandium (Sc, up to 964 ppm),
tin (Sn, up to 1,100 ppm) and tungsten (W, up to 100 ppm)
are present in the environment of some of the targets, showing the
potential influence of a large, possibly zoned magmatic
system.
Troilus East Project & Surrounding Area – Frotet-Evans
Greenstone Belt
*Map claim
information generated from: https://gestim.mines.gouv.qc.ca/.
Troilus Gold resource information generated
from: https://www.troilusgold.com/troilus-gold-project/#geology-and-mineral-resources
|
TROILUS EAST LITHIUM
TARGETS:
The systematic exploration approach focusing on the
predetermined targets will allow Comet Lithium to gain a better
grasp on the vast lithium potential that exists on the property.
This program will become the basis to establish a larger more
in-depth lithium exploration program during 2024.
Five separate target areas identified to date follow a northeast
alignment along the eastern flank of the Parker intrusion over a
strike length of approximately 20 kilometres.
As part of this field program a maximum number of samples will
be collected for lab analysis across all five targets. In addition,
field crew will do a comprehensive mapping and measurement of the
visible pegmatites and include channel sampling where
necessary.
Target
|
Location
|
Signature
|
Environment
|
Features
|
Lac
Diane
|
540370E -
5649300N
|
Li: 50 to
70ppm
Sc: 55 to
100ppm
|
Southern limit of the
Parker
Pluton
|
Andesite, affected by
calc-
silicate alteration and
metamorphism
|
Parker
1
|
542280E –
5651100N
|
Li: 57 to
67ppm
|
Internal area of the
Parker
intrusion
|
Granite and
tonalite
|
Mésière
|
551000E –
5655350N
|
Li: 54 to
248ppm
|
Spatially associated
with a
mapped lenticular
granitic body
|
Biotite alteration
affecting
mafic intrusions; higher
values hosted in quartz-
feldspar vein
|
Dionne
Fault
|
552075E –
5658350N
|
Li: 56 to
98ppm
|
Spatially associated
with a
northeast lenticular granitic body
at the apex of the
Parker Pluton
|
Biotite alteration in
mafic
intrusions and volcanics
|
Gilbert
Fault
|
556150E –
5660230N
|
Li: 55 to
71ppm
Sc:
65ppm
|
Spatially associated
with east-
west Gilbert Fault
|
Calc-silicate
alteration
with biotite in mafic
volcanics
|
Note: Elemental results reported were not controlled by
a QA/QC program using blank and standard material inserted in
the sampling chain. These initial results were also not validated
by duplicate sampling. Assays results were produced by AGAT
Laboratories.
From: Campagne d'échantillonnage 2020-2021, projet Troilus
Est. GM 72758, 2022. Demers, M. Sigéom.mines.gouv.qc.ca.
Qualified Person
Martin Demers, P. Geo (ogq #770,
APEGNB L5980, PGO #3785), registered in the Provinces of Québec,
New-Brunswick, and Ontario a consultant to Comet Lithium, is a
qualified person under National Instrument 43‑101 -
Standards of Disclosure for Mineral Projects. He has reviewed
the technical contents of this news release and has approved the
disclosure of the technical information contained herein.
About Comet Lithium
Corporation
Comet Lithium is a dynamic lithium-focused exploration company
active in the prolific James Bay
District of Quebec. Comet
Lithium's flagship asset is its 100%-owned Liberty Property
contiguous to Winsome Resources' Adina deposit, a growing
high-grade discovery. Comet Lithium is advancing Liberty to
first-ever drilling.
Forward-Looking
Statements
This news release contains statements that may constitute
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information may
include, among others, statements regarding the future plans,
costs, objectives or performance of Comet Lithium, or the
assumptions underlying any of the foregoing. In this news release,
words such as "may", "would", "could", "will", "likely", "believe",
"expect", "anticipate", "intend", "plan", "estimate" and similar
words and the negative form thereof are used to identify
forward-looking statements. Forward-looking statements should not
be read as guarantees of future performance or results, and will
not necessarily be accurate indications of whether, or the times at
or by which, such future performance will be achieved. No assurance
can be given that any events anticipated by the forward-looking
information will transpire or occur, including the exploration
programs, the results therefor and development of the Troilus East
property, or if it does so, what benefits Comet Lithium will
derive from the Troilus East property. Forward-looking information
is based on information available at the time and/or management's
good-faith belief with respect to future events and are subject to
known or unknown risks, uncertainties, assumptions and other
unpredictable factors, many of which are beyond Comet Lithium's
control. These risks, uncertainties and assumptions include, but
are not limited to the risks relating to the capital market
conditions, risk that the Company might not be able to obtain the
capital resources necessary to complete any exploration program on
the Troilus East property, as well those risks, uncertainties and
assumptions described under "Financial Instruments" and "Risk and
Uncertainties in Comet Lithium's Annual Report for the fiscal year
ended December 31, 2022, a copy of
which is available on SEDAR+ at www.sedarplus.ca, and could cause
actual events or results to differ materially from those projected
in any forward-looking statements. Comet Lithium does not intend,
nor does it undertake any obligation, to update or revise any
forward-looking information contained in this news release to
reflect subsequent information, events or circumstances or
otherwise, except if required by applicable laws.
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 the release.
SOURCE Comet Lithium Corp.