SPOD Lithium Announces Positive Lithium Exploration Results and Targets Q4 2024 to Commence a Drill Program on its MegaLi And LG4 Properties
SPOD Lithium Corp has announced positive results from its second phase field program at the MegaLi and LG4 properties in James Bay, Quebec. The company identified four drilling targets based on soil samples showing lithium values above 21 ppm Li2O. A fully funded drill program worth approximately one million dollars is planned to commence in November 2024. The properties, adjacent to Patriot's Shaakichiuwaanaan project, showed significant findings including a 1.6 km strike length pegmatite on Block C and lithium-bearing zones with concentrations up to 431 ppm Li2O. The program collected 458 soil samples and 37 rock samples, with 24 samples exceeding the 95th percentile threshold.
SPOD Lithium Corp ha annunciato risultati positivi dal suo secondo programma di scavi sul campo presso le proprietà MegaLi e LG4 nella Baia di James, Quebec. L'azienda ha identificato quattro obiettivi di perforazione basati su campioni di suolo che mostrano valori di litio superiori a 21 ppm Li2O. È previsto un programma di perforazione completamente finanziato del valore di circa un milione di dollari, che dovrebbe iniziare a novembre 2024. Le proprietà, adiacenti al progetto Shaakichiuwaanaan di Patriot, hanno mostrato risultati significativi, inclusa una lunghezza di 1,6 km di pegmatite nel Blocco C e zone contenenti litio con concentrazioni fino a 431 ppm Li2O. Il programma ha raccolto 458 campioni di suolo e 37 campioni di roccia, con 24 campioni che superano la soglia del 95° percentile.
SPOD Lithium Corp ha anunciado resultados positivos de su segundo programa de campo en las propiedades MegaLi y LG4 en la Bahía de James, Quebec. La compañía identificó cuatro objetivos de perforación basados en muestras de suelo que muestran valores de litio superiores a 21 ppm Li2O. Se planea un programa de perforación totalmente financiado con un costo de aproximadamente un millón de dólares, que comenzará en noviembre de 2024. Las propiedades, adyacentes al proyecto Shaakichiuwaanaan de Patriot, mostraron hallazgos significativos, incluyendo una longitud de 1.6 km de pegmatita en el Bloque C y zonas con contenido de litio con concentraciones de hasta 431 ppm Li2O. El programa recogió 458 muestras de suelo y 37 muestras de roca, con 24 muestras que superaron el umbral del percentil 95.
SPOD Lithium Corp는 퀘벡 제임스 베이의 MegaLi 및 LG4 자산에서 두 번째 단계 현장 프로그램의 긍정적인 결과를 발표했습니다. 이 회사는 리튬 수치가 21 ppm Li2O를 초과하는 토양 샘플을 기반으로 네 개의 굴착 대상을 확인했습니다. 2024년 11월에 시작될 예정인 약 100만 달러 상당의 완전 자금 지원 굴착 프로그램이 계획되어 있습니다. Patriot의 Shaakichiuwaanaan 프로젝트와 인접한 이 자산은 블록 C에서 1.6 km의 스트라이크 길이를 가지는 페그마타이트와 농도가 최대 431 ppm Li2O인 리튬 함유 지역 등 중요한 발견을 보여주었습니다. 이 프로그램은 458개의 토양 샘플과 37개의 암석 샘플을 수집했으며, 24개의 샘플이 95번째 백분위수 임계값을 초과했습니다.
SPOD Lithium Corp a annoncé des résultats positifs de son deuxième programme de terrain sur les propriétés MegaLi et LG4 dans la Baie James, au Québec. La société a identifié quatre cibles de forage sur la base d'échantillons de sol montrant des valeurs de lithium supérieures à 21 ppm Li2O. Un programme de forage entièrement financé d'une valeur d'environ un million de dollars est prévu pour commencer en novembre 2024. Les propriétés, adjacentes au projet Shaakichiuwaanaan de Patriot, ont montré des résultats significatifs, y compris une longueur de 1,6 km de pegmatite dans le Bloc C et des zones contenant du lithium avec des concentrations allant jusqu'à 431 ppm Li2O. Le programme a collecté 458 échantillons de sol et 37 échantillons de roche, dont 24 échantillons dépassant le seuil du 95ème percentile.
SPOD Lithium Corp hat positive Ergebnisse aus seinem zweiten Feldprogramm auf den MegaLi und LG4 Grundstücken in der James Bay, Quebec, bekannt gegeben. Das Unternehmen hat vier Bohrziele auf der Grundlage von Bodenproben identifiziert, die Lithiumwerte über 21 ppm Li2O aufweisen. Ein vollständig finanzierter Bohrplan im Wert von etwa einer Million Dollar ist für November 2024 geplant. Die Grundstücke, die angrenzend an das Shaakichiuwaanaan-Projekt von Patriot liegen, zeigten signifikante Funde, darunter eine Pegmatit-Mineralisierung mit einer Streckenlänge von 1,6 km im Block C und lithiumhaltige Zonen mit Konzentrationen von bis zu 431 ppm Li2O. Das Programm sammelte 458 Bodenproben und 37 Gesteinsproben, von denen 24 Proben den 95. Perzentil-Schwellenwert überschritten.
- Fully funded $1 million drill program secured for Q4 2024
- Discovery of lithium-bearing pegmatites with concentrations up to 431 ppm Li2O
- Identification of 1.6 km strike length pegmatite on Block C
- Strategic location adjacent to Americas' largest lithium deposit
- None.
Positive lithium soil sample results demonstrate several high potential pegmatite lithium-rich corridors
Numerous geological similarities observed with the adjacent Shaakichiuwaanaan project (formerly known as Corvette and the largest lithium deposit in the Americas) belonging to Patriot Battery Metals Inc.'s ("Patriot")
A fully funded drill program of approximately one million dollars is planned to follow-up on the best identified results
Gold anomalies were identified and associated with the pegmatite contacts
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2024) - SPOD LITHIUM CORP. (CSE: SPOD) (OTCQB: SPODF) (the "Company" or "SPOD"), is pleased to announce that it has received the majority of the results from the second phase of its field program on the MegaLi and Lithium Grande 4 ("LG4") properties and is planning a drill program based on the best targets identified. The MegaLi and LG4 properties consist of six claim blocks adjacent to Patriot's Shaakichiuwaanaan project located in the James Bay area of Quebec, Canada. In addition to its Quebec projects, SPOD is also exploring promising opportunities in the province of Ontario.
Based on soil results that returned lithium values above 21 ppm Li2O corresponding to the ninety-fifth (95th) percentile of the distribution, four targets have been identified for drilling on block "A", Block "C" and on block "D" (see Figure 1). The targets are based on:
Interpreted pegmatite trends, supported by detailed magnetic data,
New mapping information obtained from the last survey, and
Previous work on the large pegmatites on Block "C" and Block "D" that revealed zoned internal structures and accessory minerals such as beryl and tourmaline.
Mathieu Couillard, SPOD's CEO, commented, "We are delighted with these developments and have identified high-quality targets through soil sampling in areas where surface observations have already confirmed the presence of large pegmatite dikes. The Block "D" target is particularly noteworthy due to its position along strike with the Shaakichiuwaanaan deposit. The fully funded drill program is expected to start in November."
Summer 2024 field program over MegaLi and LG4
During June 2024, an exploration team consisting of four technicians supervised by a geologist completed 18 days of field work including rock and "C" horizon soil sampling on most of the MegaLi and LG4 properties. 458 soil samples and 37 rock samples were collected and sent for assaying.
The treatment of 458 soil fine fraction by aqua regia dissolution and ICP- analytical method of the fine fraction returned 24 samples with lithium results above 21 ppm Li2O corresponding to the ninety-fifth (95th) percentile of the distribution. This threshold was used to identify anomalies and draw target trends using a detailed magnetic survey previous acquired by SPOD. Assaying of the sand fraction by sodium peroxide is pending.
Clusters of anomalous lithium values have been identified in Block "A" and Block "D" on the LG4 property and on Block "C" of the MegaLi property. Block "C" was covered by a larger share of the coverage considering the extension of pegmatite outcrops observed along 1.6 km of strike length.
Figure 1- Property location (satellite and regional geology) map with soil sampling
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7939/227521_62cd1145d4b50be7_002full.jpg
Block A
A lithium signature in the soil samples is indicated by a main cluster of four samples with values ranging from 11 to 47 ppm Li2O, potentially associated with a northeast-trending magnetic contrast parallel to the mafic dyke.
Block C
In Block "C," three samples returned scattered results between 21 and 32 ppm Li2O, closely associated with a sub-outcropping ridge of zoned pegmatite. Outcrop mapping conducted simultaneously confirmed a strike length of 1.6 km, with a shallow dip to the north and an apparent thickness of up to 100 meters. The initial phase of outcrop mapping indicated the presence of lithium-enriched zones, with concentrations reaching 431 ppm Li2O.
Additionally, a gold anomaly was identified near the lower contact to the south of the pegmatite body, with concentrations ranging from 0.006 g/t to 0.36 g/t Au, suggesting the presence of gold in the environment. However, varying soil conditions and the methodology used, which relied on small samples of 0.5 grams, may limit the precision of these assays.
Block D
Four samples with results above 32 ppm Li2O are combined with a group of 21 ppm Li2O samples to form a cluster concentrated in the northern half of the claim. This area is characterized by low hills formed by till accumulations. Initial interpretations suggest a pegmatite orientation east-west to east-northeast, with a strike length of 500 meters, corresponding to the width of the claim.
Upcoming Drilling program
Results from the second phase of the field program conducted during summer 2024 demonstrated the presence of lithium-bearing pegmatites on the MegaLi and LG4 properties, showing strong geological similarities to the adjacent Shaakichiuwaanaan Property. The SPOD drill program aims to test various targets on Blocks A, C, and D. Considering the glacial dispersion of the lithium soil anomalies, two or three short drill holes are planned for the most significant anomalies to ensure adequate coverage of each target. The current plan includes 13 drill pads, but this may evolve based on drilling observations, with each location potentially accommodating more than one hole. The drilling program is scheduled to start around November and conclude before the end of 2024.
QA/QC
Soil sampling was completed at 100 m spacing at a depth of 20 to 50 cm to reach the "C" horizon of the soil profile. Samples were described in terms of color and textures. The sampling line includes duplicates, blanks and standards. Samples were submitted to ALS Chemex in Val-d'Or for assaying on the fine by aqua regia dissolution and sodium peroxide fusion both followed by ICP-MS analysis.
Qualified Person
Julien Davy, P.Geo., M.Sc, MBA, consultant geologist of SPOD, and Martin Demers, P.Geo, independent senior geologist, are qualified persons under National Instrument 43-101 on standards of disclosure for mineral projects, and have prepared, supervised and approved the technical information in this news release.
About Spod Lithium Corp.
Spod Lithium Corp. is a leading exploration and development company focused on unlocking the vast potential of lithium resources. With a strategic approach to resource management and a commitment to sustainable practices, SPOD is dedicated to driving innovation and delivering value for its stakeholders. Founded in 2020, its primary lithium properties are strategically located in Quebec and Ontario, Canada, regions renowned for their rich deposits of these valuable resources. For further information, please refer to the Company's disclosure record on SEDAR+ (www.sedarplus.ca) or contact the Company through its website at www.spodlithiumcorp.com.
On Behalf of the Board of Directors
Mathieu Couillard
President, CEO & Director
+1 (647) 567-6757
mathieu.couillard@SPODlithiumcorp.com
Stay connected with SPOD
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Forward-Looking Information
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FAQ
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