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Li3 Lithium Announces Shareholder Approval of Name Change to Reflect its Focus on its 100%-Owned Northern Lights Copper Project Located in Nevada

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Li3 Lithium Corp (TSXV: LILI) announced shareholder approval for a name change to Global Copper Corp (new symbol: CUCU), reflecting its focus on copper exploration. The company has initiated a geochemical sampling survey on its 100%-owned Northern Lights Copper Project in Nevada, covering 485 hectares.

Key points:

  • Historic small-scale copper production in early 1900s
  • Recent sampling shows 1% to 19% Cu over widths up to 4 meters at surface
  • Two-phase exploration program planned, including EM survey and drilling
  • Project located 25 km from Yerrington, Nevada, near Nevada Copper's Pumpkin Hollow mine
  • Company aims to capitalize on increasing copper demand due to energy transition

Li3 Lithium Corp (TSXV: LILI) ha annunciato l'approvazione degli azionisti per un cambio di nome in Global Copper Corp (nuovo simbolo: CUCU), riflettendo il suo focus sull'esplorazione del rame. L'azienda ha avviato un survey di campionamento geochimico sul suo progetto rame Northern Lights di proprietà al 100% in Nevada, che copre 485 ettari.

Punti chiave:

  • Storica produzione di rame su piccola scala all'inizio del 1900
  • Campionamenti recenti mostrano 1% a 19% Cu su larghezze fino a 4 metri in superficie
  • Programma di esplorazione in due fasi pianificato, inclusi survey EM e perforazioni
  • Progetto situato a 25 km da Yerrington, Nevada, vicino alla miniera Pumpkin Hollow di Nevada Copper
  • L'azienda punta a capitalizzare la crescente domanda di rame dovuta alla transizione energetica

Li3 Lithium Corp (TSXV: LILI) anunció la aprobación de los accionistas para un cambio de nombre a Global Copper Corp (nuevo símbolo: CUCU), reflejando su enfoque en la exploración de cobre. La compañía ha iniciado una encuesta de muestreo geoquímico en su Proyecto de Cobre Northern Lights de propiedad al 100% en Nevada, que abarca 485 hectáreas.

Puntos clave:

  • Producción histórica de cobre a pequeña escala a principios de 1900
  • Muestreos recientes muestran 1% a 19% Cu en anchos de hasta 4 metros en la superficie
  • Programa de exploración planeado en dos fases, que incluye encuesta EM y perforación
  • Proyecto ubicado a 25 km de Yerrington, Nevada, cerca de la mina Pumpkin Hollow de Nevada Copper
  • La compañía busca capitalizar la creciente demanda de cobre debido a la transición energética

Li3 리튬 주식회사 (TSXV: LILI)는 이름을 글로벌 구리 주식회사 (새 심볼: CUCU)로 변경하기 위해 주주 승인을 받았다고 발표했습니다. 이는 구리 탐사에 대한 초점을 반영하는 것입니다. 이 회사는 네바다에 있는 100% 소유의 노던 라이트 구리 프로젝트에서 지구 화학 샘플 조사를 시작했으며, 면적은 485헥타르에 달합니다.

핵심 사항:

  • 1900년대 초 역사적인 소규모 구리 생산
  • 최근 샘플링 결과 표면에서 최대 4미터 너비에 대해 1%에서 19% Cu를 보입니다
  • EM 조사 및 시추를 포함하는 2단계 탐사 프로그램 계획
  • 프로젝트는 네바다주 예리턴에서 25km 떨어진 곳에 위치하며, 네바다 구리사의 펌킨 할로우 광산 근처에 있습니다
  • 회사는 에너지 전환에 따른 구리 수요 증가를 활용하는 것을 목표로 하고 있습니다

Li3 Lithium Corp (TSXV: LILI) a annoncé l'approbation des actionnaires pour un changement de nom en Global Copper Corp (nouveau symbole : CUCU), reflétant son accent sur l'exploration du cuivre. La société a lancé une étude d'échantillonnage géochimique sur son projet cuivre Northern Lights entièrement détenu dans le Nevada, couvrant 485 hectares.

Points clés :

  • Production historique de cuivre à petite échelle au début des années 1900
  • Des échantillons récents montrent 1% à 19% de Cu sur des largeurs allant jusqu'à 4 mètres en surface
  • Programme d'exploration en deux phases prévu, comprenant une étude EM et des forages
  • Projet situé à 25 km de Yerrington, Nevada, près de la mine Pumpkin Hollow de Nevada Copper
  • La société vise à capitaliser sur la demande croissante de cuivre en raison de la transition énergétique

Li3 Lithium Corp (TSXV: LILI) gab die Genehmigung durch die Aktionäre für eine Umbenennung in Global Copper Corp (neues Symbol: CUCU) bekannt, was den Fokus auf die Kupferexploration widerspiegelt. Das Unternehmen hat eine geochemische Probenahmeuntersuchung für sein 100%-eigenes Northern Lights Kupferprojekt in Nevada gestartet, das eine Fläche von 485 Hektar umfasst.

Wichtige Punkte:

  • Historische Kleinproduktion von Kupfer zu Beginn des 20. Jahrhunderts
  • Neuere Proben zeigen 1% bis 19% Cu über Breiten von bis zu 4 Metern an der Oberfläche
  • Zwei-phasiges Explorationsprogramm geplant, einschließlich EM-Untersuchung und Bohrungen
  • Projekt liegt 25 km von Yerrington, Nevada, in der Nähe der Kupfermine Pumpkin Hollow von Nevada Copper
  • Das Unternehmen möchte von der steigenden Kupfernachfrage aufgrund des Energieübergangs profitieren
Positive
  • Shareholder approval for name change to Global Copper Corp, aligning with new copper-focused strategy
  • 100% ownership of Northern Lights Copper Project in Nevada
  • Recent sampling confirms high-grade copper mineralization (1% to 19% Cu) over widths up to 4 meters at surface
  • Initiation of property-wide soil and rock geochemical sampling survey
  • Proximity to Nevada Copper's producing Pumpkin Hollow copper mine
  • Two-phase exploration program planned, including EM survey and drilling
  • Potential for U.S. government funding due to copper's addition to Critical Minerals List
Negative
  • Project is still in early exploration phase
  • Historical data and recent sampling results may not be representative of expected results
  • Name change and new trading symbol pending TSXV and regulatory approval
  • Exploration work on its 100% Northern Lights Copper Project to begin immediately

  • Prior small-scale copper production in the early 1900s

  • Historic reports document copper mineralization grading 3% to 12% Cu

  • Recent sampling confirms copper mineralization (1% to 19% Cu) over widths up to 4 meters at the surface

  • Accelerated exploration program to be undertaken as a priority to test width & grade

Toronto, Ontario--(Newsfile Corp. - August 22, 2024) - Li3 Lithium Corp. (TSXV: LILI) (FSE: WD9) ("Li3 Lithium" or the "Company") is pleased to announce that shareholders approved a Company name change (the "Name Change") at the Annual and Special Meeting of Shareholders held on August 22, 2024 (the "Meeting") and the directors of the Company have determined to change the name of the Company to "Global Copper Corp.". The new trading symbol will be 'CUCU'.

The Name Change remains subject to TSXV and regulatory approval. No further action will be required by existing shareholders with respect to the Name Change. Certificates representing common shares of the Company will not be affected by the Name Change and will not need to be exchanged. The Company encourages any shareholder with any questions or concerns to contact the Company or to discuss any of the foregoing with their broker or agent.

Li3 Lithium is proposing to change its name to more accurately reflect the activities and future focus of the Company. Stephen Dunn, President and Chief Executive Officer of Li3 Lithium, commented: "The proposed name change reflects the Company's new strategy of focusing globally on copper exploration and project development. We see the energy transition to a net-zero carbon world as opportunity for minerals explorers to focus on the explosive growth anticipated in demand for copper."

Coincident with the Name Change, the Company is also pleased to announce that it has initiated a property-wide soil and rock geochemical sampling survey on its 100%-owned, 485 hectare Northern Lights Copper Project (the "Project) in Nevada. The program is designed to test for and expand on the copper skarn mineralization that occurs on the property. Results from the survey will be used to identify zones to be tested by diamond and or reverse circulation drilling in the coming months.

The Project is located 25 km from Yerrington, Nevada and is in close proximity to Nevada Copper Corporation's producing Pumpkin Hollow copper mine. Historic records confirm prior small-scale intermittent production of copper on the Northern Lights property in the early 1900s. Sampling undertaken by the Company confirms that Northern Lights has copper mineralization (1% to 19% Cu) over widths up to 4 meters at the surface. Results from the Company's data compilation, geologic mapping, surface rock geochemistry, and the magnetic survey confirm that additional exploration at Northern Lights is justified.

The Company intends to commence a two phase exploration program as recommended in the Northern Lights Copper Project 43-101 Report dated 31 December 2021. Phase 1 will commence immediately and include a ground-based EM (electromagnetic) survey to define high-grade copper mineralization coincident with the magnetic anomalies previously identified and a property-wide soil and rock geochemical sampling survey. Results from the EM survey, magnetic survey, geologic mapping, and surface copper geochemisty will be used to further refine drill targets. Phase 2 will consist of reverse circulation drilling to confirm copper mineralization indicated by the four data sets described above. Reverse circulation drilling will also confirm the width and grade of copper mineralization projected at depth below the historic workings on the Northern Lights' fault.

"We intend to fast-track exploration on the Company's promising 100% owned Nevada copper project. Demand for copper is forecast to undergo unprecedented structural change driven by the global energy transition with mined copper supply forecast to enter a deficit position starting as early as 2025 (see Figure 1 - Copper Demand Chart below). The project's U.S. location coincides nicely with the U.S. Government's recent addition of copper to its Critical Minerals List and opens up the possibility of funding via the U.S. Government's recently approved initiative. The clean energy transition cannot occur without a significant increase in copper production. The U.S Government's legislative and funding initiative will help copper projects in the US that are necessary for the clean energy transition by allocating additional resources to the mining sector, including funding for exploration and feasibility studies," said Stephen Dunn, Chairman of the Company.

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Figure 1: Copper Demand Chart

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Nevada - Northern Lights Copper Project

Li3 Lithium's 100%-owned Northern Lights Copper Project is located in the central portion of Nevada's well known Walker Lane Trend about 25 kilometers (15 air miles) southeast of Yerington, Nevada (See Figure 2 below). The property consists of 58 lode mining claims covering 1200 acres (485 hectares) and is in close proximity to Nevada Copper Corporation's producing Pumpkin Hollow copper mine. There are also several active copper exploration projects underway in close proximity to the property.

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Figure 2: Northern Lights Copper Project Location Map

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The Pumpkin Hollow ore deposit is characterized by an intense magnetic high as shown in Figure 3, which uses the same base map as Figure 2. The Northern Lights project is located between two magnetic highs in the eastern portion of the map (see Figure 3 below).

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Figure 3: Regional Aeromag Map

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Mineralization observed on the property consists of: 1) massive magnetite, goethite, hematite, chalcopyrite replacement zones in the Triassic limestone and siltstone; 2) smaller, fracture- controlled zones of magnetite, goethite, hematite with copper oxide; and 3) disseminated pyrite, chalcopyrite, and copper oxides in sedimentary rocks as well as altered dacite porphyry. Visible copper oxide mineralization occurs in a northwest-trending zone approximately 1,500 meters long and 100 meters wide (5,000ft x 330ft). This replacement-skarn style of mineralization (deposit type) is similar to the nearby copper deposit at Pumpkin Hollow, currently in production by Nevada Copper Corporation.

The objective of the Company is to confirm the deposit model with additional surface exploration work following by drilling to define a mineable high-grade copper deposit. The project is currently in the early exploration phase but planned drilling will confirm the grade, thickness and downdip extent of the mineralization confirmed at the surface.

Technical information

Quality Assurance and Quality Control of Li3 Lithium's programs are under the control of the Company's geological employees and are consistent with industry best practices.

Qualified Person

John Cleary, is the non-independent qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects for the technical disclosure contained in this news release. Mr. Cleary has reviewed and approved the technical disclosure contained in this news release. The qualified person has not completed sufficient work to confirm the historic information on the Project and in the vicinity, particulary regarding historical drill results, historical mine production and historical grab samples. However, the qualified person believes that these results were completed to industry standard practices. The information provides an indication of the exploration potential of the Project but may not be representative of expected results. Also, mineralization hosted on adjacent and/or nearby properties, particularly with respect to neighbouring mineral resources, is not necessarily indicative of mineralization hosted on the Company's Project.

About Li3 Lithium Corp.

Coincident with this news announcement, Li3 Lithium is focused its 100% owned Northern Lights Copper Project in Nevada. The Northern Lights Copper Project is located in the central portion of Nevada's well known Walker Lane Trend about 25 km southeast of Yerington, Nevada. The property covers 1,200 acres (485 hectares) and is in close proximity to Nevada Copper Corporation's producing Pumpkin Hollow copper mine. There are also several active copper exploration projects underway in close proximity to the property. Li3Lithium plans to confirm the deposit model with additional surface exploration work following by drilling to define a mineable high-grade copper deposit.

Contact Information:
Li3 Lithium Corp.
Steve Dunn, CEO and Director
Tel: 416-822-3343
Email: info@lithium3.com
www.lithium3.com

CAUTIONARY STATEMENT:

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

This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward- looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220848

FAQ

What is the new name and ticker symbol for Li3 Lithium Corp (TSXV: LILI)?

Li3 Lithium Corp (TSXV: LILI) is changing its name to Global Copper Corp with the new ticker symbol CUCU, subject to TSXV and regulatory approval.

Where is the Northern Lights Copper Project located and what is its size?

The Northern Lights Copper Project is located 25 km southeast of Yerrington, Nevada. It covers 485 hectares (1200 acres) and consists of 58 lode mining claims.

What were the recent sampling results from the Northern Lights Copper Project?

Recent sampling at the Northern Lights Copper Project confirmed copper mineralization ranging from 1% to 19% Cu over widths up to 4 meters at the surface.

What exploration activities are planned for the Northern Lights Copper Project?

A two-phase exploration program is planned, including a ground-based EM survey, property-wide soil and rock geochemical sampling, and reverse circulation drilling to confirm copper mineralization at depth.

GLOBAL COPPER CORP

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