Xplore Resources Identifies Priority Targets for Upcoming Drill Program at Surge Lithium Project, Ontario
Xplore Resources Corp. (TSXV: XPLR) has completed its surface exploration program at the Surge Lithium project in northwest Ontario, identifying new drill targets. The project is strategically located adjacent to Green Technology Metals' Root Bay Project, which has a 10.1 Mt at 1.29% Li2O JORC Resource. Recent drilling near Xplore's property boundary has shown promising results, including intersections of 17.3 meters at ~30% spodumene. The Surge property covers 10 km of prospective geology along the Root Bay - Root Bay East trend. New Lidar survey data and ground prospecting have revealed additional structures and outcrops, with drilling plans to be announced soon.
Xplore Resources Corp. (TSXV: XPLR) ha completato il suo programma di esplorazione superficiale presso il progetto Surge Lithium nel nord-ovest dell'Ontario, identificando nuovi obiettivi per la perforazione. Il progetto si trova in una posizione strategica accanto al Root Bay Project di Green Technology Metals, che ha una risorsa JORC di 10,1 Mt con 1,29% Li2O. Recenti perforazioni vicino al confine della proprietà di Xplore hanno mostrato risultati promettenti, inclusi intercettamenti di 17,3 metri a ~30% di spodumene. La proprietà Surge copre 10 km di geologia prospettica lungo la tendenza Root Bay - Root Bay East. Nuovi dati da un rilievo Lidar e prospezioni a terra hanno rivelato ulteriori strutture e affioramenti, con piani di perforazione che saranno annunciati a breve.
Xplore Resources Corp. (TSXV: XPLR) ha completado su programa de exploración superficial en el proyecto Surge Lithium en el noroeste de Ontario, identificando nuevos objetivos de perforación. El proyecto está estratégicamente ubicado junto al Root Bay Project de Green Technology Metals, que tiene un recurso JORC de 10,1 Mt con 1,29% Li2O. Las perforaciones recientes cerca de la frontera de la propiedad de Xplore han mostrado resultados prometedores, incluyendo intersecciones de 17,3 metros a ~30% de espodumeno. La propiedad Surge abarca 10 km de geología prospectiva a lo largo de la tendencia Root Bay - Root Bay East. Nuevos datos de un estudio Lidar y la prospección en el suelo han revelado estructuras y afloramientos adicionales, y pronto se anunciarán los planes de perforación.
Xplore Resources Corp. (TSXV: XPLR)은 북서부 온타리오의 서지 리튬 프로젝트에서 지표 탐사 프로그램을 완료하고 새로운 시추 목표를 확인했습니다. 이 프로젝트는 Green Technology Metals의 Root Bay Project와 인접해 전략적으로 위치하고 있으며, 해당 프로젝트는 10.1 Mt의 1.29% Li2O JORC 자원을 보유하고 있습니다. Xplore의 소유지 경계 근처에서 최근 시추 결과가 유망하게 나타나, 약 30%의 스포듐엔을 포함한 17.3미터의 교차점을 포함합니다. 서지 부지에서는 Root Bay - Root Bay East 경향을 따라 10km의 잠재적 지질을 포함하고 있습니다. 새로운 Lidar 조사 데이터와 현장 탐사로 추가 구조와 노출이 드러났으며, 시추 계획은 곧 발표될 예정입니다.
Xplore Resources Corp. (TSXV: XPLR) a complété son programme d'exploration de surface au projet Surge Lithium dans le nord-ouest de l'Ontario, identifiant de nouveaux cibles de forage. Le projet est stratégiquement situé à côté du projet Root Bay de Green Technology Metals, qui possède une ressource JORC de 10,1 Mt avec 1,29% Li2O. Des forages récents près de la limite de propriété d'Xplore ont montré des résultats prometteurs, y compris des intersections de 17,3 mètres à ~30% de spodumène. La propriété Surge couvre 10 km de géologie prospective le long de la tendance Root Bay - Root Bay East. De nouvelles données de levés Lidar et la prospection au sol ont révélé des structures et affleurements supplémentaires, avec des plans de forage à annoncer prochainement.
Xplore Resources Corp. (TSXV: XPLR) hat sein Oberflächenexplorationsprogramm im Surge-Lithium-Projekt im Nordwesten Ontarios abgeschlossen und neue Bohrziele identifiziert. Das Projekt liegt strategisch neben dem Root Bay Project von Green Technology Metals, das über eine JORC-Ressource von 10,1 Mt bei 1,29% Li2O verfügt. Jüngste Bohrungen in der Nähe der Grundstücksgrenze von Xplore haben vielversprechende Ergebnisse gezeigt, darunter Schnitte von 17,3 Metern bei ~30% Spodumen. Das Surge-Gelände umfasst 10 km vielversprechender Geologie entlang des Trends Root Bay - Root Bay East. Neue Lidar-Urdaten und die Geländeprospektion haben zusätzliche Strukturen und Aufschlüsse aufgezeigt, während die Bohrpläne bald bekannt gegeben werden.
- Strategic location adjacent to Green Technology Metals' successful Root Bay Project
- Property covers 10 km of prospective lithium trend
- Neighboring property shows high-grade lithium intersections within 25m of boundary
- Completion of surface exploration program with new drill targets identified
- No drilling has been conducted yet to confirm lithium mineralization
- Exploration is still in early stages with no resource estimates
Vancouver, British Columbia--(Newsfile Corp. - November 14, 2024) - Xplore Resources Corp. (TSXV: XPLR) ("Xplore" or the "Company") is pleased to announce the completion of its surface exploration program, leading to the identification of new drill targets at its flagship Surge Lithium project. Located in the rapidly developing Root lithium district in northwest Ontario, the project benefits from new Lidar and geological data gathered this summer and sits strategically adjacent to Green Technology Metals' Root Bay Project, where ongoing exploration continues to deliver strong results.
News Highlights
- Rapid Growth Along the Root Bay Trend Immediately Adjacent to Xplore's Surge Project. The Root lithium area has experienced rapid growth, with the Root Bay project owned by Green Technology Metals boasting a 10.1 Mt at
1.29% Li2O JORC Resource.1 Recent encouraging results from a 14,000 m ongoing drilling campaign on the project have been reported, including:- 17.3 meters at ~
30% spodumene in drill hole RB-24-002 - 16.3 meters at ~
28% spodumene in drill hole RB-24-001[1]
- 17.3 meters at ~
Further drilling by Green Technology Metals is planned near the boundary shared with Xplore's Surge property, following promising lithium intersections within 25 m to the property line.
- Surge Project Located Along 10 km of the Root Bay Lithium Trend. Drilling results reported by Green Technology Metals for their Root Bay East project area include 23.3 m of
1.16% Li2O (RBE-23-007), 10.5 m of1.08% Li2O (RBE-23-008), and 11.7 m of1.12% Li2O (RBE-23-009)1 (Figures 1 and 2). These three holes are within 50 m of the Surge property boundary. The Surge property is situated along the eastern extension of the Root Bay - Root Bay East trend, covering approximately 10 km of prospective geology.
- New Data Refines Drill Targets for Upcoming Program. Recent exploration on the Surge property, including a targeted airborne Lidar survey, mapping and ground prospecting, has been instrumental in revealing additional structures and outcrops. Xplore is now finalizing plans to commence drilling, focusing on priority areas targeting the extension of known mineralized zones at the property boundary with Green Technology Metals. Further details on the drill program will be announced in the coming weeks.
Dominic Verdejo, Chief Executive Officer of the Company commented, "With targets for our upcoming program as close as 25 m from Green Technology Metals' latest discovery at Root Bay East, we are excited to commence drilling. Our neighbour's rapid transition from discovery to a significant resource sets a fantastic precedent that Xplore aims to follow as we fast-track our drill program at the Surge Project. Starting with a series of high-priority targets, our goal is to reveal the vast, yet-to-be-tapped potential contained within our 10 km of prospective trend."
Figure 1. Xplore's Surge Lithium Project area showing drill targets, nearby projects and deposits.
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Figure 2. Annotated drone photo taken near Xplore's Surge Project boundary with Green Technology Metals Root Project (looking east). Annotations show the location of recent drilling by Green Technology Metals with lithium drill results as close as 25 m from the Surge property boundary.
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Qualified Person
The technical content of this news release has been reviewed and approved by Karly Oliver, P.Geo., director of the Company and a Qualified Person pursuant to National Instrument 43-101.
About Xplore Resources
Xplore Resources is a North American lithium exploration company listed on the TSX Venture Exchange under symbol XPLR. The Company has a prospective land package in the emerging Root Bay lithium district located in northwest Ontario. Xplore's flagship property is the Surge lithium project, on trend and near two lithium deposits and just 25 m from a new lithium discovery. The Company is led by a highly experienced management team with a strong track record of growing shareholder value.
For further information, please contact:
ON BEHALF OF THE BOARD
Dominic Verdejo, Chief Executive Officer
For further information, please contact:
Phone: +1 604-678-5308
Email: info@xploreresources.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Cautionary Note Regarding Forward-Looking Statements
Statements contained in this press release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. The words "anticipate," "significant," "expect," "may," "will" and similar expressions are intended to be among the statements that identify Forward-Looking Information. Forward-Looking Information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the Forward-Looking Information. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, assumptions that general business and economic conditions will not change in a materially adverse manner; that all requisite approvals will be received and all requisite information will be available in a timely manner. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, risks related to unforeseen delays, general economic, market or business conditions, regulatory changes, timeliness of regulatory approvals, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this Forward-Looking Information. The Company does not assume the obligation to revise or update this Forward-Looking Information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
1 Green Technology Metals News Release dated November 12, 2024
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FAQ
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