FE BATTERY METALS INTERSECTS MULTIPLE LITHIUM PEGMATITE ZONES IN MOST RECENT DRILLING AT THE AUGUSTUS LITHIUM PROPERTY

Rhea-AI Summary

FE Battery Metals Corp. (CSE: FE) (OTCQB: FEMFF) (WKN: A2JC89) announces positive results from Drill Hole LC23-63 at the flagship Augustus Lithium Property in Quebec, Canada. The drill intersected six lithium-bearing zones, indicating potential for a significant increase in lithium resource at the project. The results show promising lithium and other rare metal values, suggesting a strong potential for resource building work at the site.

Positive

• Positive results from the drill hole indicate the potential for a significant increase in lithium resource at the Augustus Lithium Property.
• The presence of lithium exomorphic halos extending from 2-5 meters in the country rock suggests a strong potential for resource building work at the project.
• The results show promising lithium and other rare metal values, indicating a strong potential for further exploration and resource building work at the site.

Negative

• None.

VANCOUVER, BC, Sept. 11, 2023 /PRNewswire/ - FE Battery Metals Corp. (CSE: FE) (OTCQB: FEMFF) (WKN: A2JC89) ("FE Battery Metals" or the "Company) is pleased to announce results of Drill Hole LC23-63 from the current 2023 drill program at its flagship Augustus Lithium Property in Quebec, Canada.

Drill hole LC23-63 was drilled at the main Augustus zone. In total, the drill hole intersected six separate lithium bearing zones, which, in total, have a composite length of 38.48 meters (see Highlights for individual zones).

New sampling of the host, or 'wallrock' in contact with the pegmatite bodies was found to contain lithium mineralization and that there is an observed correlation with higher lithium (Li), cesium (Cs), and rubidium (Rb) values to higher nickel and chromium values in these rocks.

Understanding the degree of the host rock mineralization could provide a useful guide for further exploration and resource building work at the project. If the host rock has been mineralizaed, likely by hydrothermal fluids, it may lead to a significant increase in potential lithium resource at the project. These lithium exomorphic halos are documented to extend from 2-5 m or more in the country rock in other lithium-pegmatite occurrences.

Highlights (See Table 1 for details)

• Lithium pegmatite #1 intersected intersected a 3.88 meter zone with 0.37% Li2O at 115.49 m drilled depth. In addition, there are anomalous values of other rare metals such as beryllium (Be) in the range of 35 to 370 parts per million (ppm), cesium (Cs) 11.4 to 2070 ppm, niobium (Nb) 30 to 81.2 ppm, and tantalum (Ta) 24.7 to 113 ppm.
• Lithium pegmatite #2 intersected intersected a 8 meter wide zone with 1.0% Li2O at 179.7 m drilled depth, including a 4 m section of 1.61% Li2O at 181.5 m. In addition, there are anomalous values of other rare metals such as Be in the range of 10 to 444 ppm, Cs 15.1 to 489 ppm, Nb 7.4 to 105.5 ppm, and Ta 3.4 to 96.1 ppm.
• Lithium pegmatite #3 intersected a 2.8 meter zone with 0.3% Li2O at 199 m drilled depth. In addition, there are anomalous values of other rare metals such as Be in the range of less than (<) 3 to 180 ppm, Cs 4.9 to 298 ppm, Nb 5.9 to 93.1 ppm, and Ta 1.8 to 128 ppm.
• Lithium pegmatite #4 intersected intersected a 5.4 meter zone with 0.75% Li2O at 214 m drilled depth including a one meter section of 2.21% Li2O at 216 m. In addition, there are anomalous values of other rare metals such as Be in the range of 9 to 314 ppm, Cs 36.7 to 185 ppm, Nb 6.3 to 73.4 ppm, and Ta 1 to 86.1 ppm.
• Lithium pegmatite #5 intersected intersected a 8 meter zone with 0.69% Li2O at 226.6 m drilled depth, including a 3.1 m section with 1.23% Li2O at 229.4 m. In addition, there are anomalous values of other rare metals such as Be in the range of <3 to 451 ppm, Cs 36.7 to 185 ppm, Nb 6.3 to 73.4 ppm, and Ta 1 to 86.1 ppm.
• Lithium pegmatite #6 intersected intersected a 10.4 meter zone with 0.69% Li2O at 271.6 m drilled depth, including a one meter section of 1.32% Li2O at 274.6 m, and a 4 m section of 1.09% Li2O at 276.6 m. In addition, there are anomalous values of other rare metals such as Be in the range of <3 to 451 ppm, Cs 36.7 to 185 ppm, Nb 6.3 to 73.4 ppm, and Ta 1 to 86.1 ppm.

Drill hole LC23-63 was drilled at location 5367789.854N, 287162.594E, UTM NAD 1983 Zone 18N, at azimuth 52.6 degrees and dip -47.12 with a drilled depth of 308.35 m. The drill hole was placed at the main Augustus zone. All reported widths are drilled widths and have not been converted into true width.

Mr. Gurminder Sangha, CEO of FE Battery Metals stated that, "The Augustus main zone has returned solid results at every stage of exploration. Along with the mineralized swarm of pegmatites, we are excited about the discovery of high lithium, cesium and rubidium values in the wallrock hosting the pegmatites. This factor can change our exploration strategy and will need more assays. If successful this will add to the potential resource footprint."

The drill core is logged and sampled at the core shack using a rock saw. A core shack is built at the village of St-Dominique du Rosaire located about 50km from the Property for drill core logging, sample preparation and storage. For quality control and quality assurance (QA/QC), field duplicates, standards and blanks are being inserted at industry standard intervals. The samples were bagged and tagged using best practices and were delivered to Activation Laboratories ("ACTLABS"), Ancaster, Ontario for sample preparation and analyses using laboratory code Ultratrace 7 and sodium peroxide fusion (Na2O2) for lithium and 1E-Ag - Ag Aqua Regia - ICP-OES package for silver. ACTLABS is an independent commercial, accredited ISO Certified Laboratory.

Afzaal Pirzada, P.Geo., Geological Consultant of the Company, and a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

ON BEHALF OF THE BOARD OF
FE BATTERY METALS CORP.

"Gurminder Sangha"
Gurminder Sangha
CEO & Director

Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.

Forward-looking Information

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to obtain required approvals. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

Table 1: Drill Hole LC23-63 Highlights

Analyte Symbol	Depth	Depth	Total Width	Li	Li2O	Be	Cr	Cs	Fe	Nb	Nd	Ni	Rb	Ta
Unit Symbol	From	To		ppm		ppm	ppm	ppm	%	ppm	ppm	ppm	ppm	ppm
Detection Limit	m	m	m	15		3	30	0.1	0.05	2.4	0.4	10	0	0.2
Analysis Method				FUS-Na2O2
Lithium Pegmatite # 1
1158489	115.49	116.55	1.06	3,160	0.68	60	1880	2070	5.39	30.6	1.4	730	4,620	24.7
1158491	116.55	117.5	0.95	28	0.01	345	< 30	13.4	0.27	81.2	< 0.4	< 10	8	126
1158492	117.5	118.37	0.87	26	0.01	370	30	11.4	0.31	70.6	0.5	< 10	7	113
1158493	118.37	119.37	1	3,250	0.70	35	1590	1590	4.74	30	0.6	850	4,440	28.1
Total width / average	115.49	119.37	3.88	1,714	0.37
Lithium Pegmatite #2
1158494	179.7	180.63	0.93	610	0.13	10	1990	489	6.74	7.4	1.8	1,340	1,040	3.4
1158495	180.63	181.5	0.87	3,140	0.68	196	70	56.3	0.6	78	1.2	< 10	848	75.2
1158496	181.5	182.5	1	12,000	2.58	185	50	56.9	0.67	67.8	1	< 10	1,460	66.1
1158497	182.5	183.5	1	7,140	1.54	146	40	57.1	0.4	74.6	0.6	< 10	2,080	58.1
1158498	183.5	184.5	1	3,950	0.85	138	50	15.4	0.42	105.5	1.7	< 10	265	61.1
1158499	184.5	185.5	1	6,880	1.48	163	30	15.1	0.47	90.3	1.1	< 10	219	70.3
Including	181.5	185.5	4		1.61
1158501	185.5	186	0.5	4,230	0.91	444	< 30	31.6	0.47	92.1	2	< 10	343	94.5
1158502	186	186.7	0.7	1,300	0.28	180	30	26	0.48	80.4	1.5	20	322	96.1
1158503	186.7	187.7	1	830	0.18	29	1810	478	6.5	7.9	0.8	1,190	1,130	5.2
Total width / average	179.7	187.7	8	4,641	1.00
Lithium Pegmatite #3
1158504	199	199.88	0.88	1,110	0.24	119	1330	298	6.33	22.5	3.4	800	835	19.7
1158505	199.88	200.4	0.52	1,290	0.28	98	40	20.9	0.42	71.3	1.1	20	95	97.7
1158506	200.4	201.1	0.7	3,230	0.69	180	30	12.9	0.37	93.1	1.2	< 10	25	128
1158507	201.1	201.8	0.7	200	0.04	< 3	210	4.9	8.34	5.9	11.7	130	44	1.8
Total width / average	199	201.8	2.8	1,446	0.31
Lithium Pegmatite #4
1158508	214	215	1	618	0.13	6	120	36.7	5.53	6.3	12.8	100	150	1
1158509	215	216	1	3,710	0.80	193	60	44.2	1.41	55.9	3.3	20	494	68
1158511 (Including)	216	217	1	10,300	2.21	314	40	37.1	0.51	79	0.8	< 10	293	86.1
1158512	217	218	1	2,500	0.54	181	60	146	1.72	54.4	3.4	20	995	76.3
1158513	218	218.6	0.6	1,270	0.27	143	90	185	2.17	73.4	6.6	30	1,180	81.5
1158514	218.6	219.4	0.8	1,060	0.23	9	130	36.7	5.28	12.2	21.6	90	175	6.2
Total width / average	214	219.4	5.4	3,470	0.75
Lithium Pegmatite #5
1158515	226.6	227.4	0.8	2,990	0.64	< 3	170	155	5.38	11.7	41.6	120	582	1
1158516	227.4	228.4	1	2,380	0.51	451	40	34.3	0.5	80	1.3	< 10	313	61.9
1158517	228.4	229.4	1	1,420	0.31	295	40	24.2	0.44	78.9	1.1	< 10	189	57.6
1158518	229.4	230.4	1	6,640	1.43	230	50	35.8	0.5	72.8	1.1	< 10	431	58.3
1158519	230.4	231.4	1	5,920	1.27	182	40	34.1	0.52	80.9	1.9	< 10	679	59.2
1158521	231.4	232.5	1.1	4,540	0.98	255	40	33.9	0.49	69.8	1	< 10	553	51.2
Including	229.4	232.5	3.1		1.23
1158522	232.5	233.6	1.1	383	0.08	269	40	19.1	0.45	79.7	1.8	< 10	276	70.5
1158523	233.6	234.6	1	1,660	0.36	13	180	157	5.59	18.6	45.1	120	948	3.9
	226.6	234.6	8	3,228	0.69
Lithium Pegmatite #6
1158524	271.6	272.6	1	1,680	0.36	< 3	130	49.4	5.32	6.2	13	90	204	1
1158525	272.6	273.6	1	1,160	0.25	82	30	48	0.55	70.9	0.9	< 10	1,550	68.4
1158526	273.6	274.6	1	1,120	0.24	245	40	84.1	0.67	103.9	2.5	< 10	3,000	42.4
1158527 (Including)	274.6	275.6	1	6,130	1.32	258	50	47.1	0.58	107.2	1.3	< 10	1,020	63.3
1158528	275.6	276.6	1	1,100	0.24	155	30	66.9	0.64	109.7	1.4	< 10	2,370	63.6
1158529	276.6	277.6	1	5,120	1.10	266	30	75.4	0.76	100.6	1.1	< 10	2,380	81.1
1158531	277.6	278.6	1	4,310	0.93	183	40	85.2	0.47	58.9	1.3	< 10	2,570	44.5
1158532	278.6	279.6	1	5,280	1.14	132	40	124	0.4	38.3	0.5	< 10	3,490	43.1
1158533	279.6	280.6	1	5,590	1.20	209	40	53.4	0.49	84.2	1.8	< 10	1,260	87.3
1158534	280.6	281.06	0.46	356	0.08	437	40	32.8	0.35	99.9	1.4	< 10	204	77.4
1158535	281.06	282	0.94	1,810	0.39	7	110	54.9	4.26	6.9	12.3	80	331	1
Total width / average	271.6	282	10.4	3,207	0.69

 

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SOURCE First Energy Metals Limited

FAQ

What are the key findings of Drill Hole LC23-63 at FE Battery Metals Corp. (CSE: FE)?

The drill intersected six lithium-bearing zones, indicating potential for a significant increase in lithium resource at the Augustus Lithium Property in Quebec, Canada.

What does the presence of lithium exomorphic halos indicate at the Augustus Lithium Property?

The presence of lithium exomorphic halos extending from 2-5 meters in the country rock suggests a strong potential for resource building work at the project.

What do the promising lithium and other rare metal values suggest about the results of Drill Hole LC23-63 at FE Battery Metals Corp. (CSE: FE)?

The results show promising lithium and other rare metal values, indicating a strong potential for further exploration and resource building work at the site.