Clarity Updates on the Lithium381 Property
Clarity Metals Corp. (CSE: CMET, OTC: CLGCF) has provided an update on its exploration efforts at the Lithium381 property in Quebec, located near Allkem Limited’s James Bay Lithium Property. The company is conducting various surveys, including Induced Polarization and Resistivity, a remote sensing survey, and a triaxial magnetometer survey, to identify lithium-bearing pegmatite targets. The property encompasses 1,107 hectares with a promising geological setting. Clarity recently entered an agreement to acquire a 50% interest in the property, enhancing its strategic position in the lithium market.
- Commencement of multiple geophysical surveys to identify lithium targets.
- Strategic location adjacent to Allkem Limited’s lithium deposit with significant indicated resources.
- Entered into an option agreement for a 50% interest in the Lithium381 property.
- The property has not been previously explored for lithium-bearing pegmatites.
- There is uncertainty regarding the presence of commercially viable lithium grades.
VANCOUVER, British Columbia, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Clarity Metals Corp. (“Clarity” or the “Company”) (CSE: CMET, OTC: CLGCF, FSE: 27G) is pleased to provide on update on exploration progress at the Lithium381 property (the “Property”) located in Quebec adjacent to Allkem Limited’s James Bay Lithium Property.
To date the Company has initiated and is awaiting results of the following exploration efforts:
- Induced Polarization and Resistivity survey at 100m line spacing and 25m dipole spacing.
- Remote sensing survey including the acquisition, processing, analysis, and interpretation of Synthetic Aperture Radar ("SAR") and Sentinel & Aster Multispectral data.
- 160 line kilometer triaxial magnetometer survey at 75m line spacing.
- Initiation of follow up exploration including permitting preparation.
Upon receipt of the results of this work the Company will be able to interpret the results identifying targets for follow up drilling and investigation.
James Rogers CEO of Clarity commented “By collecting a full suite of geophysical data we will be able to interpret and advance our understanding of the project as we explore for lithium bearing pegmatites. The Company looks forward to following up on targets derived from this work early in 2023.”
Figure 1 Location of Lithium 381 Project showing nearby properties and total pit outline on Allkem’s James Bay Lithium Project from the Allkem Feasibility Study.
The Lithium381 Property
The Property is located in Northern Quebec, Canada, approximately 3 km from the James Bay Road and the service station at KM381 which provides infrastructure to the local area.
The 21 mineral claims comprising the 1107 ha property are contiguous with Allkem Limited’s James Bay Lithium Property hosting a deposit with Indicated resources of 40.8 Mt @
The Property has not previously been explored for lithium bearing pegmatites but is underlain primarily by amphibolite facies metasedimentary and minor metavolcanic rocks of the Lower Eastmain Group of the Eastmain Greenstone belt in the northeastern part of the Superior Province; the same host rocks of the adjacent James Bay Lithium Deposit.
Quebec has become a favourable jurisdiction for critical mineral exploration investment with its ‘2030 Plan for a Green Economy’ targeting a reduction in carbon emissions as well as its ‘Plan for Development of Critical and Strategic Minerals (2020-2025)’ which includes commitments to share financial risk and plans to improve infrastructure for projects in Northern Quebec.
Clarity recently entered into an option agreement to earn an undivided
Qualified Person
Mr. Rory Kutluoglu P. Geo., a member of the advisory board and a consultant of the Company, is a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the technical information in this news release.
About Clarity
Clarity Metals Corp. is a Canadian mineral exploration project generator company focused on the acquisition, exploration and development of precious and base metals projects. Clarity’s exploration mandate is global and focused on countries with established legal and regulatory systems supporting mining investment. The Company is based in Vancouver, British Columbia, and is listed on the CSE under the symbol “CMET”.
Clarity recently entered into an option agreement to acquire
The Company was also recently assigned an option to acquire
Additionally, Clarity has title on several early-stage projects in British Columbia and Newfoundland:
- Empirical Gold Copper Molybdenite Property (10,518 ha) – Lillooet, B.C.
- Tyber Gold Copper Silver Property (928 ha) – Southeast Vancouver Island, B.C.
- Gretna Green Gold Copper Silver Property (1,331 ha) - Port Alberni, Vancouver Island, B.C.
- Harp Lake Nickel Property (3,452 ha) – Labrador, NL
- Eddies Cove MVT Property (450 ha) –NW Newfoundland
- Hare Bay Nickel Property (750 ha) –NW Newfoundland
To learn more about Clarity Metals Corp. and its projects please visit www.claritygoldcorp.com.
ON BEHALF OF THE BOARD
“James Rogers”
Chief Executive Officer
Tel: 1 (833) 387-7436
Email: info@claritygoldcorp.com
Website: www.claritygoldcorp.com
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include statements regarding: the exploration program on the Property; targets that may be generated from the exploration program and the fact the Lithium381 property is a project with favourable underlying geology adjacent to Allkem’s world class lithium deposit and that it hosts the same rocks and geological structure. The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements including: that the Property may not host any lithium at all or any commercially viable grades of lithium; that the Property may not host any lithium resources like Allkem’s adjacent property; that the Company may not complete the exploration program on the Property as proposed; adverse market conditions; and other factors beyond the control of the parties. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include general market conditions and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/9dd0465f-5fd9-420b-bd5b-9867f955849f
FAQ
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