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Gold/Mining/Energy : Mining News of Note
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To: LoneClone who wrote (172220)6/7/2023 2:39:30 PM
From: LoneClone  Read Replies (1) of 192593
 
Li3 Lithium Reports up to 4.14% Lithium Oxide in Surface Rock Samples at the Mutare Lithium Project

newsfilecorp.com

Toronto, Ontario--(Newsfile Corp. - May 30, 2023) - Li3 Lithium Corp. (TSXV: LILI) (FSE: WD9) ("Li3 Lithium" or the "Company") is pleased to announce that it has identified high-grade lithium targets from its ongoing exploration program at the Mutare Lithium Project, located in Zimbabwe. Li3 Lithium holds a 50% ownership interest in the Mutare Lithium Project, with the remaining 50% owned by Premier Africa Minerals Limited, operator of the Zulu Lithium and Tantalum Mine in Zimbabwe.

The Company, as operator of the Mutare Lithium Project, has received assay results from seventy-two grab samples collected during the initial phase of the 2023 exploration program. The exploration program includes geological mapping, and a surface rock sampling program to assist in identifying priority targets for the trenching and 5,000-meter exploration drilling program, scheduled to start in the coming weeks.

Highlights:

  • 72 samples sent for analysis in April
  • Highest grade returned in initial phase is 4.14% Lithium Oxide ("Li2O") from the Nels Luck group of licenses


    • The preliminary surface rock sampling program consisted of 72 samples taken from across the Mutare Lithium Project (Table 1, Figures 1-2,). The grab samples were from the central and eastern section of property, including the Nels Luck group of licenses, situated in the Mutare Greenstone Belt ("MGB") East zone, one of many target areas within the Mutare Lithium Project, comprised of approximately 2,000 hectares of licences retained in the MGB. The Nels Luck license hosts a group of lepidolite, spodumene, and tantalite, bearing lithium-cesium-tantalum pegmatites with an approximate surface expression of 600 meters by 20 meters (up to 50m) (Figure 2). The Nels Luck group of licenses is situated about 15 km northeast in the same stratigraphic package, on the southern limb of a regional syncline, that hosts the Sabi Star Lithium Tantalum Mine.

    Table 1: Summary of Lithium Oxide (Li2O) results from the Nels Luck area greater than 0.500%. Values are rounded to the nearest 0.001

    Sample IDZoneSourceXYDescriptionLi2O%
    A8549Nels LuckStockpile 4034767885187Lepidolite-Quartz-feldspar3.437
    A8550Nels LuckStockpile 4034667885186Lepidolite-feldspar-quartz3.788
    A8552Nels LuckStockpile 4039257885353Feldspar(spodumene?)-quartz-green mica2.508
    A8553Nels LuckOutcrop4039257885353Feldspar-tourmaline-spodumene?1.542
    A8557Nels LuckStockpile 4034557885142Lepidolite-felspar-quartz4.144
    A8558Nels LuckStockpile 4034407885149Lepidolite-felspar-quartz4.084
    A8559Nels LuckOutcrop4033817885169Lepidolite-felspar-quartz3.898
    A8560Nels LuckStockpile 4033717885177Lepidolite-felspar-quartz1.387
    A8562Nels LuckStockpile 4034277885194Lepidolite-felspar-quartz3.712
    A8563Nels LuckStockpile 4034207885138Spodumene-feldspar3.96
    A8564Nels LuckOutcrop4034657885194Banded-quartz-feldspar-tourmaline0.702
    A8565Nels LuckOutcrop4034757885197Quartz-green mica-tourmaline0.846




    Figure 1: Mutare Lithium Project License and Location map, identifying the location of the initial surface samples across the Mutare Lithium Project

    To view an enhanced version of this graphic, please visit:
    images.newsfilecorp.com

    François Auclair, P.Geo, M.Sc., CEO and President of Li3 Lithium commented, "The initial high-grade results, up to 4.14% lithium oxide, suggest the potential for high-grade lithium oxide mineralization at surface and at depth within the Eastern section of the property. We are anxious to commence the 5,000-meter exploration drilling program across the property with emphasis on the Nels Luck group of pegmatites."



    Figure 2: Summary of grab sample results at Nels Luck greater than 0.50 %

    To view an enhanced version of this graphic, please visit:
    images.newsfilecorp.com

    Mutare Lithium Project, Zimbabwe

    The Mutare Lithium Project is located adjacent to the Sabi Star Lithium Tantalum Mine in eastern Zimbabwe's Mutare Greenstone Belt, an emerging lithium district. Li3 Lithium is evaluating the acquisition of additional prospective ground, either through staking or agreements with potential vendors. The area was deemed prospective for lithium-cesium-tantalum pegmatites based on prior target generation work. Management believes the lithium exploration potential of the MGB is analogous to that of the Pilbara Craton pegmatites in Western Australia.

    Zimbabwe, which is estimated to hold Africa's largest lithium resources and the fifth largest globally, is rapidly emerging as an important player within the lithium supply chain. Over the past year and a half, major Chinese battery metals companies have committed approximately US$1.4 billion to acquire and develop lithium projects in Zimbabwe.

    Technical information

    Quality Assurance and Quality Control of Li3 Lithium's sampling programs are under the control of the Company's geological employees and are consistent with industry best practices. Grab samples are transported by Li3 Lithium's employees following a defined chain of custody, to Zimlabs in Harare, Zimbabwe. All samples were pulverized to produce a 30g charge and then analyzed by G706 (multi acid digestion with AAS finish). Zimlabs is a subsidiary of GNK laboratories and an internationally accredited laboratory testing provider with ISO/IEC 17025:2005 certification (Laboratory Accreditation Number: TEST-S 0010 (lSO/lEC t7025:20t7l).

    The Company intends to transport the pulp of the grab samples for analysis of Niobium (Nb), Tantalum (Ta), and Caesium (Cs) at an accredited laboratory in South Africa. Grab samples are selective by nature and reported values are not necessarily indicative of mineralized zones.

    Qualified Person

    François Auclair, QP, M.Sc, Quebec Order of Geologists, CEO and President of Li3 Lithium, is the non-independent qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects for the technical disclosure contained in this news release. Mr. Auclair has reviewed and approved the technical disclosure contained in this news release

    About Li3 Lithium Corp.

    Li3 Lithium is focused on acquiring and developing hard rock spodumene lithium assets in Zimbabwe and Argentina, where the founders have significant experience and relationships. As evidenced by recent market growth, hard rock lithium deposits are forecast to continue to dominate the global supply of lithium given the scarcity, complexity and capex-intensive nature of alternative brine sources.

    Contact Information:
    Li3 Lithium Corp.
    Francois Auclair, P.Geo, M.Sc., CEO and President
    Tel: 514-889-5089
    Email: info@lithium3.com
    www.lithium3.com

    CAUTIONARY STATEMENT:

    Neither 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 release.

    This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and 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. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

    APPENDIX 1: Grab sample summary table, coordinates are in WGS84 UTM Zone 36S

    Sample IDZoneSourceXYDescriptionLi2O%
    A8002Bepe WestOutcrop3899407876227Feldspar-quartz-tantalite0.004
    iA8003Bepe WestOutcrop3898247876216Quartz-Feldspar-tantalite0.003
    A8004Bepe WestOutcrop3898017876207Feldspar dominated-10% tantalite0.011
    A8005Bepe WestOutcrop3896217876166Feldspar-quartz-mica0.003
    A8006Bepe WestOutcrop3907787875824Feldspar-quartz-mica0.003
    A8007Bepe WestOutcrop3900737875309Feldspar-quartz-mica-tourmaline0.002
    A8589Bepe WestOutcrop3898017875655Quartz-feldspar-garnet0.004
    A8590Bepe WestOutcrop3898247875660Quartz-feldspar-garnet-tantalite0.003
    A8591Bepe WestOutcrop3898747875667Feldspar dominated-10% tantalite0.011
    A8592Bepe WestOutcrop3898557875660Quartz-Feldspar-tantalite0.005
    A8593Bepe WestOutcrop3899007875552Feldspar-quartz-mica0.026
    A8594Bepe WestOutcrop3898527875541Feldspar dominated-10% tantalite0.034
    A8595Bepe WestOutcrop3898137875513Quartz-feldspar-garnet-mica0.038
    A8596Bepe WestBoulder3905217875762Feldspar dominated-15% tantalite0.002
    A8597Bepe WestOutcrop3905777875819Feldspar dominated-10% tantalite0.003
    A8598Bepe WestOutcrop3905147875954Feldspar-quartz-mica0.001
    A8599Bepe WestOutcrop3908637875699Quartz-feldspar-tantalite0.003
    A8600Bepe WestOutcrop3908347875693Quartz-feldspar-tantalite0.005
    A8536Madheu ZoneHistorical
    trench    		3931937876279Feldspar-quartz0.003
    A8537Madheu ZoneStockpile 3932017876289Feldspar-quartz-green mica0.171
    A8538Madheu ZoneHistorical
    trench    		3932027876297Feldspare-quartz0.008
    A8539Madheu ZoneStockpile 3932057876294Feldspar-quartz-green mica0.015
    A8540Madheu ZoneStockpile 3932057876294Feldspar-green mica-beryl-tantalite0.005
    A8541Nels LuckOutcrop4037987885270Feldspar-quartz-mica0.04
    A8542Nels LuckOutcrop4037877885276Feldspar-quartz-green mica0.017
    A8543Nels LuckOutcrop4037877885275Quartz-feldspar-tantalite0.008
    A8544Nels LuckOutcrop4037627885280Feldspar-quartz-tantalite0.018
    A8545Nels LuckOutcrop4037607885279Quartz-mica-feldspar0.107
    A8546Nels LuckOutcrop4037127885240Feldspar-quartz-mica0.027
    A8547Nels LuckStockpile 4035157885193Quartz-feldspar-green mica0.054
    A8548Nels LuckHistorical
    trench    		4034747885199Quartz-mica-green mica-tourmaline0.128
    A8549Nels LuckStockpile 4034767885187Lepidolite-Quartz-feldspar3.437
    A8550Nels LuckStockpile 4034667885186Lepidolite-feldspar-quartz3.788
    A8551Nels LuckStockpile 4035107885215Feldspar-quartz-mica0.099
    A8552Nels LuckStockpile 4039257885353Feldspar(spodumene?)-quartz-green mica2.508
    A8553Nels LuckOutcrop4039257885353Feldspar-tourmaline-spodumene?1.542
    A8554Nels LuckOutcrop4039567885360Quartz-feldspar-tantalite0.006
    A8555Nels LuckOutcrop4039527885372Feldspar-quartz-tantalite0.033
    Sample IDZoneSourceXYDescriptionLi2O%
    A8556Nels LuckOutcrop4039607885394Feldspar-quartz-tantalite0.031
    A8557Nels LuckStockpile 4034557885142Lepidolite-felspar-quartz4.144
    A8558Nels LuckStockpile 4034407885149Lepidolite-felspar-quartz4.084
    A8559Nels LuckOutcrop4033817885169Lepidolite-felspar-quartz3.898
    A8560Nels LuckStockpile 4033717885177Lepidolite-felspar-quartz1.387
    A8561Nels LuckOutcrop4033767885168Feldspar-quartz-mica0.065
    A8562Nels LuckStockpile 4034277885194Lepidolite-felspar-quartz3.712
    A8563Nels LuckStockpile 4034207885138Spodumene-feldspar3.96
    A8564Nels LuckOutcrop4034657885194Banded-quartz-feldspar-tourmaline0.702
    A8565Nels LuckOutcrop4034757885197Quartz-green mica-tourmaline0.846
    A8566Nels LuckOutcrop4037847885266Feldspar-quartz0.001
    A8567Nels LuckOutcrop4037837884693Felsdpar-quartz-mica0.005
    A8568Nels LuckOutcrop4027837884688Felsdpar-quartz-mica0.001
    A8569Nels LuckOutcrop4026437884617Felsdpar-quartz-mica0.058
    A8570Nels LuckOutcrop4029367884775Felsdpar-quartz-mica-tantalite0.1
    A8571Nels LuckOutcrop4029367884775Felsdpar-quartz-mica-tantalite0.043
    A8572Nels LuckOutcrop4029367884775Felsdpar-quartz-mica-tantalite0.062
    A8573Nels LuckOutcrop4029467884796Felsdpar-quartz-mica-tantalite0.005
    A8574Nels LuckOutcrop4051837885564Quartz-mica-feldspar-tourmaline0.016
    A8575Nels LuckOutcrop4050547885663Quartz-mica-feldspar0.017
    A8576Nels LuckOutcrop4050337885646Quartz-mica-feldspar0.06
    A8577Nels LuckOutcrop4049917885698Quartz-mica-feldspar-beryl-tantalite0.009
    A8578Nels LuckHistorical
    trench    		4049487885566Feldspar-quartz-mica0.002
    A8579Nels LuckHistorical
    trench    		4049487885566Feldspar-mica-quartz0.001
    A8580Nels LuckOutcrop4047347885158Quartz-mica-feldspar-tantalite0.003
    A8587Nels LuckOutcrop4030937886874Quartz-feldspar-mica0
    A8001Tals 5Outcrop3990537882205Quartz-feldspar-mica0.005
    A8581Tals 5Outcrop3997837882182Feldspar-quartz-mica0.002
    A8582Tals 5Outcrop3997937882180Feldspar-quartz-mica0.001
    A8583Tals 5Outcrop3998077882199Quartz-feldspar-mica0.013
    A8584Tals 5Outcrop3997397882124Feldspar-quartz-lepidolite?0.049
    A8585Tals 5Outcrop3997397882111Feldspar-quartz-lepidolite?0.04
    A8586Tals 5Outcrop3997207882074Feldspar-quartz-mica-garnet0.005
    A8588Tals 5Stockpile 3996867882021Feldspar-quartz-mica-garnet0.001
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