Li3 Lithium Shifts Focus to its 100%-Owned Northern Lights Copper Project Located in Nevada in Close Proximity to Nevada Copper's Producing Mine
- None.
- None.
- Prior small-scale copper production in the early 1900s
- Historic reports document copper mineralization grading
3% to12% Cu - Recent sampling confirms ore-grade copper (
1% to19% 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. - December 15, 2023) - Li3 Lithium Corp. (TSXV: LILI) (FSE: WD9) ("Li3 Lithium" or the "Company") is pleased to announce that it is shifting its focus to copper going forward and, more specifically, to its
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 include a ground-based EM (electromagnetic) survey to define high-grade copper mineralization coincident with the magnetic anomalies previously identified. 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.
As the Company lacks sufficient funds and management resources to simultaneously undertake work on both its
"While the decision to disengage from the Company's Zimbabwe lithium project has been a difficult one, we feel it is the right one and will free up scarce resources to fast-track exploration on the Company's promising
Steve Dunn added, "In light of the strategic shift to its
Figure 1: Copper Demand Chart
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Nevada - Northern Lights Copper Project
Li3 Lithium's
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).
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.
Detailed geologic mapping by the Company and surface rock geochemical results confirm that Northern Lights has ore-grade copper (
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
About Li3 Lithium Corp.
Coincident with this news announcement, Li3 Lithium is focused its
Contact Information:
Li3 Lithium Corp.
Steve Dunn, Chairman
Tel: 416-361-2827
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.
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FAQ
Where is the Northern Lights Copper Project located?
What historic reports confirm about the Northern Lights property?
What is the focus of Li3 Lithium Corp. going forward?
What will the exploration program for the Northern Lights Copper Project involve?
Why is Li3 Lithium Corp. disengaging from the Mutare Lithium Project?