SPOD Lithium Identifies a 1.6 km Spodumene Bearing Pegmatite on Property Adjacent to Patriot Battery Metals Corvette Project
SPOD Lithium Corp (CSE: SPOD; OTCQB: SPODF) has completed a second phase field program on its MegaLi and Lithium Grande 4 properties adjacent to Patriot Battery Metals' Corvette project in Quebec, Canada. Key findings include:
1. A 1.6 km spodumene-bearing pegmatite traced on Block C, located 5 km south of the Corvette lithium deposit.
2. Collection of 452 soil samples for analysis across multiple blocks.
3. Identification of multiple pegmatites and continuity of 2023 lithium results.
4. Similarity in geology of Blocks A, B, and D to the Corvette trend.
5. 12 channel samples totaling 12 m cut on Block C for better continuous sampling.
The company plans future exploration, including mechanical stripping and drilling, pending soil and channel sample results.
SPOD Lithium Corp (CSE: SPOD; OTCQB: SPODF) ha completato un programma di esplorazione di seconda fase sui suoi beni MegaLi e Lithium Grande 4, adiacenti al progetto Corvette di Patriot Battery Metals in Quebec, Canada. I risultati chiave includono:
1. Un pegmatite contenente spodumene di 1,6 km tracciata nel Blocco C, situato a 5 km a sud del deposito di litio Corvette.
2. Raccolta di 452 campioni di suolo per analisi attraverso diversi blocchi.
3. Identificazione di più pegmatiti e continuità dei risultati di litio del 2023.
4. Somiglianza nella geologia dei Blocchi A, B e D con il trend Corvette.
5. 12 campioni di canale totali di 12 m prelevati nel Blocco C per un campionamento continuo migliore.
La compagnia prevede esplorazioni future, inclusi stripping meccanico e perforazioni, in attesa dei risultati dei campioni di suolo e canale.
SPOD Lithium Corp (CSE: SPOD; OTCQB: SPODF) ha completado un programa de campo de segunda fase en sus propiedades MegaLi y Lithium Grande 4, adyacentes al proyecto Corvette de Patriot Battery Metals en Quebec, Canadá. Los hallazgos clave incluyen:
1. Un pegmatito portador de espodumeno de 1,6 km trazado en el Bloque C, ubicado a 5 km al sur del depósito de litio Corvette.
2. Recolección de 452 muestras de suelo para análisis en varios bloques.
3. Identificación de múltiples pegmatitos y continuidad de los resultados de litio de 2023.
4. Similitud en la geología de los Bloques A, B y D con la tendencia Corvette.
5. 12 muestras de canal con un total de 12 m tomadas en el Bloque C para un mejor muestreo continuo.
La empresa planea futuras exploraciones, incluido desbroce mecánico y perforación, a la espera de los resultados de las muestras de suelo y de canal.
SPOD 리튬 주식회사 (CSE: SPOD; OTCQB: SPODF)는 캐나다 퀘벡에서 Patriot Battery Metals의 Corvette 프로젝트와 인접한 MegaLi 및 Lithium Grande 4 부지에서 두 번째 단계 현장 프로그램을 완료했습니다. 주요 발견 사항은 다음과 같습니다:
1. Corvette 리튬 매장량에서 남쪽으로 5km 떨어진 블록 C에서 추적된 1.6km의 스포듐네가 함유된 페그마타이트.
2. 여러 블록에 대한 분석을 위해 452개의 토양 샘플을 수집했습니다.
3. 여러 개의 페그마타이트 확인 및 2023년 리튬 결과의 연속성.
4. A, B, D 블록의 지질이 Corvette 트렌드와 유사함.
5. 12개의 채널 샘플 총 12m가 블록 C에서 채취되어 더 나은 연속 샘플링을 위한 것입니다.
회사는 토양 및 채널 샘플 결과에 따라 기계적 제거 및 시추를 포함한 향후 탐사를 계획하고 있습니다.
SPOD Lithium Corp (CSE: SPOD; OTCQB: SPODF) a achevé un programme de terrain en deux phases sur ses propriétés MegaLi et Lithium Grande 4, adjacentes au projet Corvette de Patriot Battery Metals au Québec, Canada. Les principales découvertes comprennent :
1. Un pegmatite porteur de spodumène de 1,6 km tracé dans le Bloc C, situé à 5 km au sud du gisement de lithium Corvette.
2. Collecte de 452 échantillons de sol pour analyse sur plusieurs blocs.
3. Identification de plusieurs pegmatites et continuité des résultats de lithium de 2023.
4. Similarité géologique des Blocs A, B et D avec la tendance Corvette.
5. 12 échantillons de canal totalisant 12 m prélevés dans le Bloc C pour un meilleur échantillonnage continu.
L'entreprise prévoit une exploration future, y compris un déblayage mécanique et un forage, en attendant les résultats des échantillons de sol et de canal.
SPOD Lithium Corp (CSE: SPOD; OTCQB: SPODF) hat ein zweiphasiges Feldprogramm auf seinen MegaLi- und Lithium Grande 4-Vermögenswerte in der Nähe des Corvette-Projekts von Patriot Battery Metals in Québec, Kanada, abgeschlossen. Zu den wichtigsten Ergebnissen gehören:
1. Ein 1,6 km langes spodumenhaltiges Pegmatit, das im Block C nachverfolgt wurde, der 5 km südlich des Corvette-Lithiumvorkommens liegt.
2. Sammlung von 452 Bodenproben zur Analyse über mehrere Blöcke.
3. Identifizierung mehrerer Pegmatite und Kontinuität der Lithiumergebnisse von 2023.
4. Ähnlichkeiten in der Geologie der Blöcke A, B und D mit dem Corvette-Trend.
5. 12 Kanäleproben mit einer Gesamtmenge von 12 m wurden im Block C entnommen, um eine bessere kontinuierliche Probenahme zu gewährleisten.
Das Unternehmen plant zukünftige Erkundungen, einschließlich mechanischer Abtragung und Bohrungen, abhängig von den Ergebnissen der Boden- und Kanalproben.
- Identification of a 1.6 km spodumene-bearing pegmatite on Block C, indicating significant lithium potential
- Proximity to Patriot Battery Metals' Corvette project, which has a large lithium resource of 109.2 million tons at 1.42% Li2O
- Completion of 452 soil samples and 12 channel samples for comprehensive analysis
- Geological similarities between SPOD's blocks and the Corvette trend, suggesting promising exploration potential
- Strategic location of properties in Quebec and Ontario, regions known for rich lithium deposits
- Results from soil and channel samples are still pending, creating uncertainty about the actual lithium content
- Future exploration plans, including mechanical stripping and drilling, are contingent on sample results
- The company issued 300,000 stock options at $0.05 per option, potentially diluting existing shareholders
- A spodumene bearing pegmatite has now been traced for at least 1.6 km of strike length on Block C, which is located about 5 km to the south of the world class Corvette lithium deposit
- 452 soil samples were collected and sent to the lab for analysis on the MegaLi Block “C”, Lithium Grande 4 Block “A”, Block “D” and Block “E”
VANCOUVER, British Columbia, July 24, 2024 (GLOBE NEWSWIRE) -- SPOD LITHIUM CORP. (CSE: SPOD; OTCQB: SPODF), (the “Company” or “SPOD”) is pleased to announce the completion of a second phase field program on its MegaLi and Lithium Grande 4 properties composed of six claim blocks adjacent to the Patriot Battery Metals Inc.’s (“Patriot”) Corvette project located in the James Bay area, Quebec, Canada. Along with its Quebec projects, SPOD is also exploring its promising projects in the province of Ontario.
Mathieu Couillard, SPOD’s CEO, commented, “We are delighted with the outcome of our 2024 program. We have proven the presence of multiple pegmatites on our property package as well as the continuity of our 2023 lithium results. We also now know that the geology of blocks “A”, “B” and “D” is similar to the Corvette trend where pegmatites are hosted in amphibolite. Additionally, the northern contact of Block “C”, where we have identified a large spodumene bearing pegmatite, is an area of particular interest given its proximity with Patriot’s CV5 deposit. Future exploration including mechanical stripping and drilling will be planned once results from soils samples and channel samples have been received.”
Summer program over the spodumene-bearing pegmatites
A total of 452 soil samples have been collected by the ExploLogik team, which provides exploration services to the Company, aimed at two objectives: identification of spodumene bearing phase inside the known pegmatite and testing the ground about 3 km along strike from the initial target.
On Block “C” (MegaLi project), 321 soil samples were collected over the pegmatite trend, covering a surface of about 1.7 km by 4.8 km. In addition, 12 channel samples totaling 12 m were cut to obtain better continuous sampling over 1 m length where lithium anomalies and low K/Rb ratios below 20 were obtained during the 2023 campaign.
For reference, Patriot’s CV5 spodumene deposit is located about 5 km north of the Block “C” pegmatite, following a parallel structural trend. Observations done so far on Block “C” have indicated that the crystallization texture and structural relations are like other spodumene bearing pegmatite events observed in the James Bay area. CV5 mineral resource estimate (MRE) has firmly established it as the largest lithium pegmatite mineral resource in the Americas and eighth largest globally, containing a maiden mineral resource estimate of 109.2 million tons at
The remaining 131 soil samples were distributed between Lithium Grande 4 Block “A”, Block “D” and Block “E” located respectively 7 km north, 12 km east and 15 km east of Patriot’s CV5. Block “A”, returned a series of rocks showing a strong Rb enrichment and low K/Rb below 30. The objective for the soil sampling program is to locate spodumene-bearing pegmatite covered by overburden. In the case of Block “D”, the unique claim hosts a strong density of pegmatites dikes limited by the density of outcrops.
Figure 1- Property location (satellite and regional geology) map with soil sampling
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, Quebec and will be methodically assayed to detect a proximal spodumene source.
Corporate Update
The Company has entered into a consulting agreement on June 25, 2024 with Jadeite Capital Corp. (the “Consultant”) to provide certain strategic and administrative services to the Company, effective April 1, 2024. The Company has also issued 300,000 stock options to the Consultant at a price of
Qualified Person
Julien Davy, P.Geo., M.Sc, MBA, consultant geologist of SPOD, and Martin Demers, P.Geo, senior geologist at ExploLogik, 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 and CEO
+1 (647) 567-6757
mathieu.couillard@SPODlithiumcorp.com
Stay connected with SPOD
Website: www.spodlithiumcorp.com
LinkedIn: www.linkedin.com/company/spod-lithium
X (formerly Twitter): www.x.com/spodlithium
Forward-Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The CSE has not reviewed, approved or disapproved the contents of this news release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9e1a98a0-3dba-47bc-a25e-de0e22e5ba69
FAQ
What is the significance of the 1.6 km spodumene-bearing pegmatite discovered by SPOD Lithium (SPODF)?
How many soil samples did SPOD Lithium (SPODF) collect in their recent field program?
What are SPOD Lithium's (SPODF) future exploration plans based on the recent findings?
How does SPOD Lithium's (SPODF) property location compare to Patriot Battery Metals' Corvette project?
