Quantum Battery Metals Begins Planning for Exploration at Rabbit Lake

Rhea-AI Summary

Quantum Battery Metals Corp. has announced the commencement of its exploration program at its Rabbit Lake property in Ontario. The property comprises 66 claim units and the company has completed Phase 1 of its exploration program, with objectives including compliance of work commitments, soil sampling programs, and a possible drilling campaign. The property is rich in cobalt, a primary metal used in EV battery production, indicating potential growth for the company.

Vancouver, British Columbia--(Newsfile Corp. - January 19, 2024) - Quantum Battery Metals Corp. (CSE: QBAT) (OTC Pink: BRVVF) (FSE: 23B0) ("Quantum" or the "Company") has begun planning for its exploration program at its Rabbit Lake property in Ontario. The Rabbit Lake property is located 14 km southeast of the town of Temagami near the eastern border of Ontario. The approximately 1,040-hectare Rabbit cobalt property comprises 66 claim units. Phase 1 of the Company's exploration program was completed previously and consisted of mineral/rock prospecting and sampling.

Objectives to review for planning:

• Complete compliance of Rabbit Lake Property work commitments.
• Continue initial grab and soil sampling programs on the property further showing high grade Cobalt.
• Possible Induced Polarization (IP) survey over a large part of the Rabbit Lake property. The survey is designed to reveal targets that can be tested for high grades and potential Possible drill campaign(s).
• Initiating a drilling campaign based on findings.

Cobalt is the primary metal used in the production of EV batteries and demand is about to soar for this essential component of electric vehicles^[1]. Canada recently passed a mandate that all sales of passenger cars, SUVs, crossovers, and light trucks be hybrids, electric or hydrogen-powered by 2035. Taking all new gas-powered cars off the market, and Canada isn't the only country moving forward as others in Europe have pushed for similar mandates.

This demand for electric batteries will see a sharp incline for Canadian produced critical minerals as companies produce batteries for local and international use^[2]. The federal government is pouring billions in the production facilities in order not to be left behind and keep Canada's economy and mining sector highly competitive. Quantum sees itself as a potential supplier for these batteries in the future.

Quantum's properties are located near the prolific district of Cobalt, Ont., known for its high grades, ethical supply, and historic mining.

QUANTUM BATTERY METALS CORP.

"Marc Momeni"
_______________________

Marc Momeni, CEO and Director
Contact Information:
400 - 837 West Hastings Street
Vancouver, British Columbia
V6C 3N6
Phone: 604.629.2936
Email: Info@quantumbatterymetals.com

Forward-Looking Information 

This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address events or developments that Quantum Battery Metals Corp. (the "Company") 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", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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^[1]https://natural-resources.canada.ca/our-natural-resources/minerals-mining/mining-data-statistics-and-analysis/minerals-metals-facts/cobalt-facts/24981.

^[2] https://www.canada.ca/en/campaign/critical-minerals-in-canada/canadian-critical-minerals-strategy.html.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194935

FAQ

What is Quantum Battery Metals Corp. planning for at its Rabbit Lake property in Ontario?

Quantum Battery Metals Corp. is planning an exploration program at its Rabbit Lake property in Ontario, which includes compliance of work commitments, soil sampling programs, and a possible drilling campaign.

Where is the Rabbit Lake property located?

The Rabbit Lake property is located 14 km southeast of the town of Temagami near the eastern border of Ontario.

What is the primary metal found at the Rabbit Lake property?

The Rabbit Lake property is rich in cobalt, which is a primary metal used in the production of EV batteries.

What was completed in Phase 1 of the exploration program at the Rabbit Lake property?

Phase 1 of the exploration program at the Rabbit Lake property consisted of mineral/rock prospecting and sampling.

What is the potential benefit of the Rabbit Lake property being rich in cobalt?

The property's richness in cobalt indicates potential growth for Quantum Battery Metals Corp. as cobalt is a primary metal used in EV battery production.