Spark Energy Confirms Pegmatites at its Minas Gerais Brazilian Lithium and Rare Earths Projects

Rhea-AI Summary

Spark Energy Minerals has announced the completion of a geochemical reconnaissance and mapping program by its joint venture partner, Foxfire Metals, on its lithium and rare earth exploration licenses in Minas Gerais, Brazil. The program, completed in December 2022, identified pegmatites and historical mining sites, with assay results expected in Q1 2023. The company holds a 75% interest in eight licenses, totaling 12,315 hectares, situated in a region recognized for high-grade lithium production. Recent developments in the same area have heightened interest in lithium mining prospects, enhancing Spark's positioning in the market.

Positive

• Completion of geochemical reconnaissance and mapping program confirms pegmatites.
• Anticipated assay results in Q1 2023 could indicate valuable lithium resources.
• Strategic positioning in Minas Gerais, a known high-grade lithium production area.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / January 16, 2023 / Spark Energy Minerals Inc., ("Spark" or the "Company") (CSE:EMIN)(Frankfurt:M1N)(OTC PINK:MTEHF), announces that Foxfire Metals Pty Ltd ("Foxfire"), the Company's JV partner, has completed a geochem-ground reconnaissance and mapping program on three of its Lithium and Rare Earth licenses held in the state of Minas Gerais, just 38 kilometres Southeast of Sigma Lithium (TSX-V: SGML).

Current geochem and mapping have confirmed pegmatites and old workings. Assay results testing for LCT pegmatites are expected in the 1^st quarter of 2023.

The program was completed in late December 2022. The soil and rock chips samples collected have been delivered to independent SGS laboratories in Brazil.

Background:

Spark acquired a 75% interest in eight Brazilian exploration licenses ("the Brazilian Portfolio"), six for lithium and two for rare earth elements ("REE") (the "Brazilian Portfolio").

The Brazilian Portfolio totals 12,315 hectares of highly prospective lithium and REE exploration licenses, in the states of Minas Gerais and Bahia for lithium and Goas for REEs. Brazil is now recognized as one of the world's major high grade lithium producers confirmed by Tesla supplier recently securing off take agreements with Sigma Lithium Corporation's subsidiary, Brazilian Sigma Mineração SA (Sigma).

Figure 2. Location map of Spark's Minas Gerais lithium and rare earth licences. The dotted lines indicate distance from Spark's licences to the state owned Companhia Brasileira de Litio's mining operation, Lithium Ionic (TSX-V: LTH) and SGML. Recent discoveries in the same, well known lithium province and pegmatite area of Minas Gerais have also been made by Latin Resources (ASX).

Highlight: An exploration program commenced in late December 2022 and confirmed pegmatites on the license areas. Old workings were also identified where pegmatites have been mined, but it is unclear if this mining was for lithium. Rock chip and soil samples will be forwarded to SGS laboratories in Brazil with results expected in first quarter of 2023.

Old workings at Minas Gerais and surface exposure of pegmatities have been confirmed.

The technical information contained in this news release has been reviewed and approved by Dr. Paul Woolrich (BSc Geology, MSc Geochemistry, PhD Metallurgy) who is a Member of the MAusIMM, a Qualified Person as defined under National Instrument 43-101 and is a Technical Director of Foxfire Metals Pty Ltd.

About Spark Energy Minerals Inc.

Spark Energy Minerals, Inc., is a Canadian company pursuing battery metals and mineral assets with newly acquired interests in Brazil and Canada. The Company has acquired assets in some of the world's most prolific mining jurisdictions, Brazil's growing lithium and provinces and in the Newfoundland, Canada region which is gaining recognition as a world hot spot for lithium and rare earth mineral exploration.

FOR ADDITIONAL INFORMATION SEE THE COMPANY'S WEB SITE AT

https://sparkenergyminerals.com
Email to info@sparkenergyminerals.com
Contact: Peter Wilson, CEO, Tel. +1-604-649-0945

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Further information about the Company is available on www.SEDAR.com under the Company's profile.

Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

SOURCE: Spark Energy Minerals Inc.

View source version on accesswire.com:
https://www.accesswire.com/735340/Spark-Energy-Confirms-Pegmatites-at-its-Minas-Gerais-Brazilian-Lithium-and-Rare-Earths-Projects

FAQ

What were the results of Spark Energy Minerals' recent geochemical program?

The geochemical program confirmed the presence of pegmatites and identified historical mining sites, with assay results expected in Q1 2023.

What does Spark Energy Minerals' Brazilian Portfolio include?

Spark's Brazilian Portfolio includes eight exploration licenses covering 12,315 hectares for lithium and rare earth elements.

Where are Spark Energy Minerals' lithium licenses located?

The lithium licenses are located in Minas Gerais, Brazil, which is recognized for its high-grade lithium production.

What is the significance of the pegmatites found in Minas Gerais?

The confirmed pegmatites are significant as they indicate potential lithium resources, enhancing exploration prospects for Spark Energy Minerals.

What company is partnering with Spark Energy Minerals in Brazil?

Spark Energy Minerals is partnered with Foxfire Metals in its Brazilian exploration efforts.