Critical Elements Lithium Discovers New Lithium-Tantalum Showings With up to 2.08% Li(2)O and 708 ppm Ta(2)O(5)
Critical Elements Lithium Corporation (CRECF) announced the discovery of new Lithium-Tantalum pegmatite trends on its properties, including Duval, Lemare, and Rose. The summer 2022 prospecting program yielded multiple high-grade lithium results, with grab samples showing up to 2.08% Li2O. Notably, the Lemare property now shows a potential strike length of over 5 kilometers. Furthermore, drill results from the Lac Pivert showing revealed promising intersections of lithium-tantalum bearing pegmatite. The company has also approved an Omnibus Plan to attract and retain qualified personnel.
- Discovery of new LCT pegmatite trends across multiple properties.
- High-grade lithium results, with grab samples reporting up to 2.08% Li2O.
- Lemare property shows a potential strike length exceeding 5 kilometers.
- Promising drill results at Lac Pivert showing lithium-tantalum intersections.
- None.
MONTREAL, QC / ACCESSWIRE / October 27, 2022 / Critical Elements Lithium Corporation (TSX-V:CRE)(OTCQX:CRECF)(FSE:F12) ("Critical Elements" or the "Corporation") is pleased to report the discovery of new Lithium-Tantalum pegmatite ("LCT pegmatite") trends with positive prospecting sampling results on the Duval (Table 1), Lemare (Table 2) and Rose Lithium-Tantalum ("Rose") properties (Table 3) and the results from the summer drilling program on the Lac Pivert pegmatite showing (Table 4) and JR showing (Table 5) on the Rose property.
Summer 2022 Prospecting Results
During summer 2022, Critical Elements conducted a prospecting program over several areas of the Corporation's Nemaska belt property portfolio. Prior to the prospecting campaign, EarthLabs, through its GoldSpot Discoveries division, generated and ranked LCT pegmatite targets using its in-house "SmartTarget" methodology that combines both expert-driven and machine-learning data-driven targeting approaches. The objective of the field program was the identification of new pegmatite bodies using systematic rock geochemical sampling of all pegmatite bodies to refine the geological interpretation of the properties for further exploration work.
A total of 817 rock samples were collected during the exploration campaign. The prospecting revealed a new two-kilometre-long trend of white pegmatite on the Corporation's
Sample results confirming the extension of the LCT pegmatite trend on the Lemare property have also been received. These results extend the strike potential for future drilling on the Lemare property (Table 2 and Figure 2). The LCT pegmatite trend on the Lemare property now has a potential strike length of over 5 kilometres. Additional drilling on this potential strike extension is planned in early 2023.
On the Rose Property, the Corporation has identified a new LCT pegmatite body north of the Lac Pivert showing. This new LCT pegmatite had grab samples reporting
Table 1: Selected Duval and Valiquette Sample results
Property | Sample | UTM NAD 83 ZN18 | Li2O | T a2O5 | Cs | |||||||
number | Easting | Northing | (%) | (ppm) | (ppm) | |||||||
Valiquette | E073456 | 433436 | 5719194 | 0.00 | 69 | 1 | ||||||
Duval | E073464 | 434666 | 5719893 | 0.01 | 183 | 15 | ||||||
Duval | B565166 | 438458 | 5723314 | 0.11 | 1 | 40 | ||||||
Duval | B565167 | 438612 | 5723304 | 0.00 | 464 | 34 | ||||||
Duval | B565177 | 438627 | 5723180 | 0.09 | 66 | 51 | ||||||
Duval | E073303 | 438624 | 5723083 | 0.02 | 59 | 48 | ||||||
Duval | E073304 | 438524 | 5723096 | 0.03 | 65 | 42 | ||||||
Duval | E073306 | 438518 | 5723090 | 0.02 | 60 | 44 | ||||||
Duval | E073307 | 438494 | 5723032 | 0.01 | 73 | 33 | ||||||
Duval | E073321 | 437590 | 5722597 | 2.08 | 100 | 15 | ||||||
Duval | E073324 | 437360 | 5722449 | 0.01 | 183 | 4 | ||||||
Duval | E074514 | 438824 | 5723594 | 0.62 | 73 | 82 | ||||||
Duval | E074515 | 438574 | 5723431 | 0.17 | 147 | 321 | ||||||
Note: Grab samples are selective by nature and may not to represent average grades of the pegmatite.
All samples are grabs except E073321 which is an angular boulder.
Figure 1: Duval and Valiquette Projects Sample Location Map
Table 2: Selected Lemare Sample Results
Property | Sample | UTM NAD 83 ZN18 | Li2O | T a2O5 | Cs | |
number | Easting | Northing | (%) | (ppm) | (ppm) | |
Lemare | B565764 | 466651 | 5731294 | 0.11 | 0 | 10 |
Lemare | E073359 | 466651 | 5731269 | 0.38 | 15 | 46 |
Lemare | E073452 | 464832 | 5733057 | 0.00 | 208 | 51 |
Lemare | E146557 | 472900 | 5735795 | 0.01 | 159 | 46 |
Lemare | E146571 | 475580 | 5736686 | 0.01 | 183 | 97 |
Lemare | E146585 | 471213 | 5734241 | 1.75 | 18 | 56 |
Lemare | E146586 | 471723 | 5734472 | 0.88 | 244 | 24 |
Lemare | E146668 | 473120 | 5735352 | 0.01 | 208 | 9 |
Lemare | E146671 | 472973 | 5735119 | 0.01 | 65 | 4 |
Lemare | E146675 | 472367 | 5734697 | 0.01 | 220 | 11 |
Lemare | E146681 | 471900 | 5734559 | 0.02 | 134 | 30 |
Lemare | E146697 | 471821 | 5734528 | 0.11 | 15 | 24 |
Lemare | E146784 | 470532 | 5733750 | 0.00 | 256 | 1 |
Lemare | E146787 | 470806 | 5733917 | 0.04 | 85 | 128 |
Lemare | E146788 | 470796 | 5733947 | 1.14 | 62 | 50 |
Lemare | E146789 | 470831 | 5733973 | 0.02 | 134 | 36 |
Lemare | E146791 | 470852 | 5733992 | 0.11 | 708 | 490 |
Lemare | E146792 | 470863 | 5734005 | 0.04 | 38 | >500* |
Lemare | E147107 | 471635 | 5734466 | 0.96 | 98 | 67 |
Note: Grab samples are selective by nature and may not to represent average grades of the pegmatite.
Figure 2: Lemare Project Sample Location Map
Table 3: Rose Sample Results
Property | Sample | UTM NAD 83 ZN18 | Li2O | T a2O5 | Cs | |
number | Easting | Northing | (%) | (ppm) | (ppm) | |
Rose | E146502 | 423105 | 5767711 | 0.92 | 269 | 75 |
Rose | E146503 | 423106 | 5767714 | 1.04 | 244 | 84 |
Note: Grab samples are selective by nature and may not to represent average grades of the pegmatite.
Figure 3: Lac Pivert (Rose Property) Sample Location Map
Figure 4: Nemaska Belt Portfolio Sample Location Map with Sample Highlights
*
Summer 2022 Diamond Drill Results - Lac Pivert (Rose Property)
The Lac Pivert pegmatite showing on the Rose property is located 3.5 kilometres North-West of the flagship Rose Lithium-Tantalum deposit. The Lac Pivert showing has a lateral extent of approximately 300 metres and remains open in all directions. Eight drill holes totaling 1,119 metres were completed during the summer exploration program. Seven of these holes intersected lithium-tantalum bearing pegmatite (Table 4 and Figure 5). The true thickness of the drill intersections is not known at this time.
Selected drill intersection highlights include:
- LP-22-05: 0.9 % Li2O and 40 ppm Ta2O5 over 6.4 m
- LP-22-06: 0.6 % Li2O and 49 ppm Ta2O5 over 8.5 m
- LP-22-07: 1.3 % Li2O and 106 ppm Ta2O5 over 2.1 m, and
0.7 % Li2O and 66 ppm Ta2O5 over 3.8 m
Table 4: Drill results Lac Pivert drilling
Hole # | UTM NAD 83 ZN18 | Length | Azimuth | Dip | From | To | Interval | Li2O | T a2O5 | |
Easting | Northing | (m) | (°) | (°) | (m) | (m) | (m) | (%) | (ppm) | |
LP-22-01 | 422860 | 5766670 | 102 | 225 | -48.6 | 3.40 | 11.70 | 8.30 | 0.41 | 27 |
including | 3.40 | 5.50 | 2.10 | 0.95 | 24 | |||||
LP-22-02 | 422860 | 5766670 | 111 | 225 | -70.2 | 3.00 | 4.20 | 1.20 | 1.16 | 53 |
10.10 | 11.80 | 1.70 | 1.22 | 75 | ||||||
LP-22-03 | 422914 | 5766657 | 204 | 225 | -53.4 | 21.60 | 22.60 | 1.00 | 0.25 | 72 |
35.70 | 37.70 | 2.00 | 0.82 | 131 | ||||||
110.50 | 115.40 | 4.90 | 0.54 | 61 | ||||||
154.40 | 155.70 | 1.30 | 0.23 | 40 | ||||||
LP-22-04 | 422914 | 5766657 | 210 | 225 | -75.1 | No significant intersections | ||||
LP-22-05 | 423000 | 5766610 | 132 | 225 | -46.5 | 36.10 | 37.30 | 1.20 | 0.51 | 97 |
47.30 | 48.60 | 1.30 | 0.67 | 98 | ||||||
100.80 | 107.20 | 6.40 | 0.86 | 76 | ||||||
LP-22-06 | 423029 | 5766569 | 153 | 225 | -54.1 | 30.80 | 31.70 | 0.90 | 0.37 | 69 |
43.50 | 46.30 | 2.80 | 0.36 | 78 | ||||||
82.20 | 90.70 | 8.50 | 0.64 | 49 | ||||||
including | 88.20 | 90.00 | 1.80 | 1.52 | 60 | |||||
LP-22-07 | 423065 | 5766540 | 120 | 225 | -52.5 | 13.90 | 16.00 | 2.10 | 1.30 | 106 |
19.90 | 20.80 | 0.90 | 0.74 | 84 | ||||||
70.00 | 73.80 | 3.80 | 0.71 | 66 | ||||||
76.00 | 77.30 | 1.30 | 0.76 | 52 | ||||||
LP-22-08 | 423100 | 5766500 | 87 | 225 | -52.5 | 25.80 | 27.50 | 1.70 | 1.33 | 123 |
* Length along the core.
Figure 5: Drill results of Lac Pivert Area (Rose Property)
The JR showing is located approximately one kilometre North-East of the Rose deposit. A total of 11 diamond drill holes have been completed totaling 1,140 metres. Ten of these holes intersected lithium-tantalum bearing pegmatite all hosted by pegmatite dykes (Table 5 and Figure 6). The true thickness of the intersections is not known at this time.
Selected drill intersections include:
- JR-22-10: 0.9 % Li2O and 147 ppm Ta2O5 over 6.0 m, and 0.3 % Li2O and 144 ppm Ta2O5 over 3.8 m
- JR-22-11: 0.2 % Li2O and 109 ppm Ta2O5 over 10.0 m
Table 5: Drill results of JR area
Hole # | UTM NAD 83 ZN18 | Length | Azimuth | Dip | From | To | Interval | Li2O | T a2O5 | |||
Easting | Northing | (m) | (°) | (°) | (m) | (m) | (m) | (%) | (ppm) | |||
JR-22-01 | 421260 | 5764660 | 102 | 210 | -61.2 | 47.8 | 49.0 | 1.2 | 0.00 | 256 | ||
JR-22-02 | 421260 | 5764760 | 111 | 210 | -59.5 | 96.1 | 97.3 | 1.2 | 0.00 | 159 | ||
JR-22-03 | 421260 | 5764860 | 102 | 210 | -59.9 | No significant value | ||||||
JR-22-04 | 421360 | 5764860 | 111 | 210 | -59.6 | 16.7 | 18.8 | 2.1 | 0.00 | 231 | ||
JR-22-05 | 421460 | 5764660 | 105 | 210 | -59.9 | 29.3 | 35.2 | 5.9 | 0.76 | 132 | ||
78.2 | 78.9 | 0.7 | 0.01 | 159 | ||||||||
85.1 | 85.8 | 0.7 | 0.01 | 220 | ||||||||
JR-22-06 | 421460 | 5764760 | 102 | 210 | -60.0 | 62.7 | 67.5 | 4.8 | 0.05 | 92 | ||
JR-22-07 | 421460 | 5764860 | 102 | 210 | -59.5 | 86.0 | 87.4 | 1.4 | 0.74 | 115 | ||
JR-22-08 | 421560 | 5764860 | 99 | 210 | -57.2 | 96.8 | 97.4 | 0.6 | 0.01 | 121 | ||
JR-22-09 | 421560 | 5764760 | 102 | 210 | -60.2 | 56.6 | 58.0 | 1.4 | 0.01 | 155 | ||
63.3 | 68.8 | 5.5 | 0.00 | 85 | ||||||||
JR-22-10 | 421545 | 5764643 | 102 | 210 | -60.2 | 34.9 | 40.9 | 6.0 | 0.90 | 147 | ||
77.1 | 80.9 | 3.8 | 0.26 | 144 | ||||||||
JR-22-11 | 421660 | 5764560 | 201 | 115 | -49.9 | 28.5 | 38.5 | 10.0 | 0.16 | 109 | ||
87.0 | 91.3 | 4.3 | 0.43 | 117 | ||||||||
116.3 | 118.7 | 2.4 | 0.02 | 155 | ||||||||
* Length along the core
Figure 6: JR Showing Drill results
Quality assurance/quality control
Quality assurance and quality control procedures have been implemented to ensure best practices in sampling and analysis of the core samples. The drill core was logged and then split, with one-half sent for assay and the other retained in the core box as a witness sample. Duplicates, standards and blanks were regularly inserted into the sample stream. The core and chip rock samples were delivered, in secure tagged bags, directly to the ALS Minerals laboratory facility in Val-d'Or, Quebec. The samples are weighed and identified prior to sample preparation. The samples are crushed to
Qualified persons
François Gagnon, P. Geo., Senior Exploration Geologist of the Corporation, and Qualified Person under NI 43-101 on standards of disclosure for mineral projects, has prepared and reviewed the content of this press release.
Corporate update
At its annual and special meeting of shareholders held on September 13, 2022, the shareholders of the Corporation, by a disinterested shareholders' vote, approved a new equity incentive compensation plan (the "Omnibus Plan") to replace the Corporation's prior stock option plan. The Omnibus Plan provides Critical Elements with a variety of security-related mechanisms to attract, retain, and motivate qualified directors, officers, employees, management company employees (as such term is defined in the Omnibus Plan) and consultants. The purpose of the Omnibus Plan is to align the interests of directors, officers, employees, management company employees, and consultants with the interests of shareholders and the long-term goals and success of the Corporation. The Omnibus Plan will enable and encourage such directors, officers, employees, management company employees and consultants to acquire common shares as long-term investments and proprietary interests in Critical Elements.
The Omnibus Plan includes a fixed plan permitting 41,462,480 common shares to be reserved for grants of stock options, restricted share units, performance share units and deferred share units. This represents
A summary of the Omnibus Plan can be found in the management information circular dated August 9, 2022 (the "Circular"), filed under Critical Elements' profile on SEDAR at www.sedar.com. The Omnibus Plan, in its entirety, is also attached as Schedule "B" to the Circular.
About Critical Elements Lithium Corporation
Critical Elements aspires to become a large, responsible supplier of lithium to the flourishing electric vehicle and energy storage system industries. To this end, Critical Elements is advancing the wholly owned, high purity Rose lithium project in Québec. Rose is the Corporation's first lithium project to be advanced within a land portfolio of over 700 square kilometers. On June 13th, 2022, the Corporation announced results of a feasibility study on Rose for the production of spodumene concentrate. The after-tax internal rate of return for the Project is estimated at
For further information, please contact:
Patrick Laperrière
Director of Investor Relations and Corporate Development
514-817-1119
plaperriere@cecorp.ca
www.cecorp.ca
Jean-Sébastien Lavallée, P. Géo.
Chief Executive Officer
819-354-5146
jslavallee@cecorp.ca
www.cecorp.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is described in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary statement concerning forward-looking statements
This news release contains "forward-looking information" within the meaning of Canadian Securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "scheduled", "anticipates", "expects" or "does not expect", "is expected", "scheduled", "targeted", 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 contained herein include, without limitation, statements relating to the results and completion of the 2022 exploration program (including the potential of the Corporation's Nemaska trend properties) and its related objectives. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made. There can be no assurance that such statements 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.
Although Critical Elements 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. Factors that may cause actual results to differ materially from expected results described in forward-looking information include, but are not limited to: final and complete results of the Corporation's 2022 exploration program and effects on the Corporation's stated objectives, as well as those risk factors set out in the Corporation's Management Discussion and Analysis for its most recent quarter ended May 31, 2022 and other disclosure documents available under the Corporation's SEDAR profile. Forward-looking information contained herein is made as of the date of this news release and Critical Elements disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
SOURCE: Critical Elements Lithium Corporation
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FAQ
What are the recent discoveries by Critical Elements Lithium Corporation (CRECF)?
What are the lithium grades found in the new pegmatite trends reported by CRECF?
How extensive is the strike potential of the Lemare property for CRECF?
What are the drill results from the Lac Pivert showing reported by CRECF?