LODESTAR BATTERY METALS. ACQUIRES NEW CLAIMS AND REPORTS EXPLORATION RESULTS AT ITS PENY PROJECT IN THE SNOW LAKE DISTRICT, MANITOBA
Lodestar Battery Metals Corp. (TSX-V: LSTR, OTCQB: SVTNF) announced the acquisition of an additional 7,859 hectares of mineral claims adjacent to its Peny Property in Manitoba's Snow Lake District. This strategic move aims to enhance the company's presence in the promising lithium pegmatite region. CEO Lowell Kamin emphasized the importance of this expansion for shareholder interests and future exploration initiatives. The new claims, totaling 47 for 11,191 hectares, were staked in February 2023 based on favorable geological assessments. Past exploration results, although not significant for lithium, indicate a correlation with other elements. Lodestar plans to leverage advanced remote sensing techniques to explore mineral targets effectively.
- Acquisition of 7,859 hectares expands claims to a total of 11,191 hectares.
- Strategic focus on enhancing presence in a lithium-rich area.
- Plans to utilize advanced remote sensing for exploration.
- Potential to increase shareholder value through aggressive advancement.
- 2022 exploration results showed no significant lithium findings.
- Previous drill holes lacked sampling for pegmatites.
"Since acquiring the Peny Property on
Lodestar remains committed to solidifying its presence in the
Peny Staking Expansion
The new management, appointed in 2022, decided to stake additional property in the
· The claims were staked over the prospective ground along the northward extension of the
· The expanded claims blocks include outcroppings of Pegmatite noted from aerial reconnaissance over the property in late 2022. In addition, numerous out-cropping pegmatites were observed on the property see Figures 1 & 2 below.
· Based on a historical data compilation over the property, a total of 86 drill holes have been identified on the property, including 18 drill holes with noted pegmatite previously unsampled. The property also hosts a pegmatite mineral showing in the northwest and numerous instances of mapped syn to post tectonic Pegmatites and potentially fertile leucogranites.
Infographic - https://mma.prnewswire.com/media/2055038/Lodestar_Figure_1.jpg
Figure 1: Location of the Peny property and surrounding claims holders within the
Infographic - https://mma.prnewswire.com/media/2055037/Lodestar_Figure_2.jpg
Figure 2: a) Quartz Feldspar Pegmatite, b) outcropping pegmatite from the swamp c) outcropping leucogranites in the northwest of the property.
2022 Exploration Results
A preliminary field exploration program was completed in September –
A total of 70 rock samples were collected over the OG Peny claims. Samples were principally collected from exposures of Quartz and Feldspar dominant pegmatites across selected parts of the property. A further 268 soil samples were collected along the eastern margin of the OG Peny claims near the
Infographic - https://mma.prnewswire.com/media/2055039/Lodestar_Figure_3.jpg
A remote sensing satellite data acquisition and processing study has been commissioned to provide analysis of synthetic aperture radar data and multispectral Sentinel & Aster data over >100 km2 covering the property and surrounding areas. By combining modern remote sensing techniques using multispectral imaging and synthetic aperture radar to analyze topography, structure, alteration, vegetation and ground movement, complex anomalies covering large areas can be quickly and effectively identified. This multivariate exploration approach combines existing geological, geochemical, and geophysical data with multiple satellite analyses to identify new potential mineral targets.
About the Peny Property
The Peny Property is located approximately 25 kilometers northeast of the town of
The Property encompasses rocks belonging to the
Qualified Person
Qualified Person:
QAQC Statement
Samples were submitted and delivered directly to
References
1. Mineral resource estimate from 43-101 technical report titled "NI 43-101 Technical Report on the
About
Contacts
Email: lowell@lodestarbatterymetals.ca
Investor Relations
investors@lodestarbatterymetals.ca
1-833-947-5227
Forward-Looking Statements
The information set forth in this news release contains forward-looking statements based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
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FAQ
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