TORONTO, Dec. 12, 2024 (GLOBE NEWSWIRE) — Consolidated Lithium Metals Inc. (TSXV: CLM | OTCQB: JORFF | FRA: Z36) (“CLM” or the “Company“) is pleased to announce the analytical results for 206 soil samples recently collected, at targeted locations of interest, on three of CLM’s 100% owned properties: Baillargé, East Vallée, and Preissac (Fig. 1). The analysis of these samples has detected 29 soil anomalies above 100 ppm lithium and 4 soil anomalies above 200 ppm lithium. The majority of the soil anomalies from this campaign were detected near the newly discovered pegmatite dykes on the northeastern section of the Baillargé Property (Fig. 1). All three properties were soil sampled in November 2024, and are located in the Abitibi Greenstone Belt, approximately 29 km northwest of Val-d’Or, Quebec.
Figure 1 – CLM Properties in vicinity of NAL Mine. Note: CLM does not hold any interests in the NAL Mine.
Baillargé Property | Soil Sampling Locations | 151 Samples
Figure 2 – November 2024 Soil Sampling Campaign: A soil sampling survey was completed on the eastern side of the Baillargé Property @ 25 m sample station spacings
Baillargé Property | Soil Sampling Results | 29 Samples > 100 ppm Li
Figure 3 – November 2024 Soil Sampling Campaign: The majority of the soil anomalies above 100 ppm Li were detected from samples taken in this area @ 25 m sample station spacings
Figure 4 – November 2024 Soil Sampling Campaign: The second largest number of soil anomalies above 100 ppm Li were detected from samples taken in this area @ 25 m sample station spacings
Figure 5 – November 2024 Soil Sampling Campaign: 1 soil anomaly above 200 ppm Li was detected from a sample taken in this recently logged area.
Baillargé Property | Prospection
During the soil sampling campaign on the Baillargé Property, CLM observed the initiation of a governmental logging operation east of Lac Baillargé (Fig. 5). An estimated one square kilometer of forest had been cleared, exposing several pegmatite dykes on the property (Fig. 5).
Upon further investigation, it was discovered that several pegmatite dykes ran from the northeastern side of the Baillargé property, down to the known Pegmatite dykes, South of Lac Baillargé. Most of these pegmatite dykes, located within granite outcrops, were at an elevation of approximately 80m above Lac Baillargé (red dots on map in Fig. 6). Additionally, along this track, several pegmatite boulders were found with some containing spodumene.
Figure 6 – Map shows newly discovered points of interest at the Baillargé Property (Pegmatite Dykes in Granite Outcrops, Pegmatite Boulders, Boulders with Spodumene)
The orientation of the newly discovered pegmatite dykes at the Baillargé Property range from North-West (Azimuth 290, 310, and 340) to North (Azimuth 360).
Figure 7 – Map shows the Azimuth (orange lines) of Pegmatite Dykes found at the Baillargé Property
Preissac Property | Soil Sampling Locations | 40 Samples
Figure 8 – November 2024 Soil Sampling Campaign: A soil sampling survey was completed on the Preissac Property @ 25 m sample station spacings | No soil anomalies above 100 ppm Li were detected in this area
East Vallée Property | Soil Sampling Locations | 15 Samples
Figure 9 – November 2024 Soil Sampling Campaign: A soil sampling survey was completed on the East Vallée Property @ 25 m sample station spacings | No soil anomalies above 100 ppm Li were detected in this area
Upcoming 2025 Exploration Program
The northeast area of the Baillargé Property is now considered to be a high-priority exploration target.
The Company intends to follow-up on the lithium soil anomalies in H1 2025, with a multi-phased exploration program. Phase I is anticipated to consist of additional prospecting in the area near the showings, where an ongoing governmental logging operation is currently clearing forest, and in the northern area of the property where the existence of lithium-bearing pegmatites has been confirmed by diamond drilling on the adjacent property. Phase II will consist of outcrop stripping, trenching and channel sampling based on the results of the Phase I program.
Note: Results obtained at properties adjacent to CLM’s Baillargé Property are not indications of results that could be obtained at, or information applicable to, any of CLM’s properties.
CLM Retains 75% Ownership of Vallée JV Property
In accordance with the earn-in and joint venture agreement between CLM and North American Lithium Inc. (“NAL”) dated November 14, 2022, as supplemented, CLM will retain 75% of the ownership interests in the portion of CLM’s Vallée property that is the subject of the joint venture (the “Vallée JV Property”). NAL earned its initial 25% interest in the Vallée JV Property pursuant to its first option exercised in late 2023. The Company is in the process of assuming the role as operator of the joint venture in accordance with the terms of the agreement.
The Company intend to follow-up on the diamond drilling campaign completed on the property by NAL. CLM further intends to initiate a detailed prospecting and soil sampling campaign on the Vallée JV Property and East Vallée Property in 2025 to determine if the mineralised spodumene pegmatite dykes identified on the Vallée JV Property continue on the northeastern section of the East Vallée Property. For the purposes of this press release, the “East Vallée Property” means that portion of the Company’s East Vallée property that is not subject to the joint venture between CLM and NAL (see Fig. 1).
Exploration Program Specifics
About Soil Sampling
Soil samples were collected from the B-horizon of the soil profile in plastic bags shipped to the laboratory for geochemical analysis. The analyses were undertaken by Impact Global Solutions Laboratory in Delson, Quebec. Upon arrival at the laboratory, the samples were dried, weighed, crushed, and split into subsamples of which one 250 g subsample was pulverized to allow 85% of the material to pass through a 75-micron sieve. The sieved subsample was digested in acid and analyzed using ICP-MS, ICP-OES, and SPF.
The Company implemented QA/QC procedures to ensure the validity of the sampling by using a series of field duplicates and reference standards in each batch of samples sent for analysis. A review of the field duplicates and reference standards indicate that the soil sample results are likely reasonably precise and accurate.
Impact Global Solutions Laboratory is an independent ISO/IEC 17025:2017 accredited facility (#889) by the Standards Council of Canada.
“We are excited to have found so many additional pegmatite showings on our properties”, says Richard Quesnel, President & CEO, “and together with the found anomalies in lithium, this will encourage us to continue delineating and further sampling these targets in the next year after the snow melt.”
Qualified Person
The scientific and technical information contained herein has been reviewed and approved by Alexandr Beloborodov, P.Geo., an independent consultant that is a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Consolidated Lithium Metals Inc.
Consolidated Lithium Metals Inc. (formerly known as Jourdan Resources Inc.) is a Canadian junior mining exploration company trading under the symbol “CLM” on the TSX Venture Exchange and “Z36” on the Frankfurt Stock Exchange. The Company is focused on the acquisition, exploration, production, and development of mining properties. The Company’s properties are in Quebec, Canada, primarily in the spodumene-bearing pegmatites of the La Corne Batholith, around NAL’s Quebec lithium mine.
For more information:
Rene Bharti, Vice President of Corporate Development
Email | [email protected]
Phone: +1 (647) 965 2173
Website: www.consolidatedlithium.com
Cautionary Statements
The content and grades of any mineral deposits at the Company’s properties are conceptual in nature. There has been insufficient exploration to define a mineral resource on its properties and it is uncertain if further exploration will result in any target being delineated as a mineral resource. In addition, sample results at or around, and information applicable to, the NAL mine or other adjacent properties are not indications of results that could be obtained at, or information applicable to, any of CLM’s properties.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the scope, objectives, and expected results of the Company’s future exploration programs, including the multi-phased exploration program anticipated to commence in H1 2025, and the Company’s ability to execute its business plan. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of CLM to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages and other risks of the mining industry. Although CLM has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 information 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 information. CLM does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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