VANCOUVER, British Columbia, Sept. 04, 2024 (GLOBE NEWSWIRE) — Vital Battery Metals Inc. (“Vital” or the “Company”) (CSE: VBAM | OTC: VBAMF | FRA: C0O), is pleased to announce the completion of its planned 13.5 line-km induced polarization (IP) survey at the Company’s Sting Copper Project (“Project” or “Sting”) located in western Newfoundland. The results of this 3D survey, which identified multiple significant chargeability anomalies, are being used to establish high priority targets for Vital’s upcoming 1000+ m drill program commencing in mid-September.
Over the course of a two-week period in August 2024 Simcoe Geoscience Ltd. deployed their wireless Alpha IP technology over prospective areas within the Jumbo-Red Lode claim block (Fig. 1). The covered areas included the locations of the Jumbo (9.0% Cu across 9.1m), Red Lode (2.5% Cu across 1.8m) (Assessment File 012G/08/0002), and Friar Tuck showings (3.7 g/t Au over 0.9 m, Assessment File 012G/08/0078) as well as anomalous soil sample results (see company news release, January 22, 2024) and areas on which additional rock and soil samples were taken during this year prospecting campaign (see company news release, July 11, 2024).
The use of Simcoe’s wireless Alpha IP extended the depth of investigation of the survey to 250-450+m and has permitted Vital to identify multiple strong chargeability and resistivity anomalies beyond the shallow ~75m investigation depth of a traditional pole-dipole IP survey. Elevated chargeability’s and low resistivities are commonly associated with the presence of massive or disseminated sulphides in VMS settings.
Highlights of the completed survey include:
Jumbo-Red Lode Grid
- 9.0 line-km on 7 separate lines were surveyed
- A chargeability anomaly associated with Jumbo (Figs. 1-2, line 6N) falls within the western edge of a sizable (300+m strike length) chargeability anomaly extending towards the east and to depths of up to an interpreted 200m. This anomaly has never been drill tested and represents an exciting target for the upcoming drill program.
- Preliminary modelling suggests the continuation of this anomaly towards the northeast and the location of Red Lode as well as coincident downslope outcrop samples with up to 9.5 g/t Au (see company news release October 26, 2023).
Lode No 9 Grid
- 4.5 line-km on 5 separate lines were surveyed
- Chargeability anomalies were identified close to Gregory River as well as towards the west of Friar Tuck (Figs. 1, 3, line 4N). The lower anomaly may be related to Lode No 9 (6.1% Cu across 2.8m, Assessment File 012G/08/0078, readers are cautioned that mineralization hosted on adjacent properties is not necessarily indicative of mineralization hosted on Vital’s claim block) found just beyond the northern extension of the Company’s claim block. These strong chargeability anomalies present additional intriguing targets for drilling and are considered highly prospective for future discoveries.
- Preliminary modelling suggests the continuation of this chargeability anomaly to the north, while continuing but also deepening towards the south.
Results from soil, grab, and channel samples submitted to SGS Canada Inc. as part of Phase 1 work are being received and incorporated into Phase 2 drilling planning. Vital anticipates receiving the balance of remaining results from Phase 1 in early September 2024 and will be using these results to refine its geological interpretations.
Adrian Lamoureux, Vital’s Chief Executive Officer and President, commented, “The IP survey has continued to demonstrate the potential of the Jumbo-Red Lode claim block to host VMS-style mineralization and we are excited to test the anomalies recognized across both side of the claim block during our upcoming maiden drill program.”
Figure 1: Sting Copper Project 2024 Completed IP Survey. The two lines highlighted in yellow (4N and 6N) have their chargeability 2D cross-sections and anomalies shown in Figures 2 and 3.
Figure 2: Lengthy chargeability anomalies on line 6N showing an extensive anomaly beginning at the Jumbo showing and extending eastwards. The vertical extent of the survey (400+m) is larger than in Figure 3 due to the longer length of the line.
Figure 3: Strong chargeability anomalies on line 4N to the south of Lode No. 9.
JEA Acknowledgement
Vital gratefully acknowledges the anticipated financial support of $95,691.86 to be provided by the 2024 Newfoundland and Labrador Junior Exploration Assistance (JEA) program towards the Company’s 2024 exploration activities. The 2024 Junior Exploration Assistance (JEA) Budget is $3.9 million and includes: $1.3 million from Provincial Grant funds, $1.3 million from ACOA funded Critical Mineral Assistance (CMA) and $1.3 million from the provincially funded Provincial Critical Mineral Assistance (PCMA). Funding is delivered in the form of rebates for eligible exploration activities.
References:
All assessment file data referenced above can be sourced at the following Newfoundland and Labrador web link: https://gis.geosurv.gov.nl.ca/
Qualified Person
The technical information contained in this news release has been reviewed by Alexander Timofeev, Ph.D., P.Geo. of Dahrouge Geological Consulting, who is a registered P.Geo in Quebec and Newfoundland, Canada.
The results discussed in this document are historical. A Qualified Person has not performed sufficient work or data verification to validate these results in accordance with NI 43-101. Although the historical results may not be reliable, Vital Battery Metals Inc. nevertheless believes that they provide an indication of the property’s potential and are relevant for any future exploration program.
About Vital Battery Metals Inc.
Vital Battery Metals Inc. (CSE: VBAM |OTC: VBAMF | FRA: C0O) is a mineral exploration company dedicated to the development of strategic projects comprised of battery, base and precious metals in stable jurisdictions. The Company is working to advance its Schofield Lithium, Dickson Lake Lithium, Sting Copper Project, and Vent Copper-Gold Projects.
The Sting Copper Project covers approximately 12,700 hectares and hosts multiple historic Newfoundland and Labrador Government documented mineral occurrences and is located within a 50 km corridor known for significant volcanogenic massive sulfide (VMS), copper quartz vein lode and low sulphation epithermal gold showings. The Vent Copper-Gold project covers 1,562 hectares in British Columbia. Vital continues to evaluate value-add assets to bolster its project portfolio.
The Schofield Lithium Project covers 8,824 hectares and is adjacent to Brunswick Exploration’s Hearst Lithium Project. The Schofield Lithium Project is located ~60 km south of Hearst, Ontario. The Dickson Lake Lithium Project covers 464 single-cell mining claims and approximately 9,780 hectares and is near a Brunswick Exploration Lithium Project, Imagine Lithium’s Jackpot Deposit and Rock Tech’s Georgia Lake Deposit.
For more information, visit www.vitalbatterymetals.com.
On Behalf of the Board of Directors
Adrian Lamoureux
Chief Executive Officer, Director
+1 (604) 229-9772
[email protected]
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the Project acquisition bringing a low-risk opportunity, the Company building a strong battery metals portfolio with low-risk opportunities that positively impact the Company and its shareholders and the Company providing an initial work plan are “forward-looking statements”. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Sting Project and its mineralization potential; the Company’s objectives, goals or future plans with respect to the Sting Project; the commencement of drilling or exploration programs in the future; the anticipated results of any drilling or exploration programs conducted in the future. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at:
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https://www.globenewswire.com/NewsRoom/AttachmentNg/42518a47-07f9-4730-b80f-388837be33c6
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