The drilling permit specifies the location of 27 drilling pads focusing on a target interpreted from preliminary results produced by a recently completed IP/Resistivity survey which indicates a 1.5 km E-W oriented area of relative high resistivity values. Additional data obtained from a remote sensing survey and a triaxial magnetometer survey further refined the target. See figure 1 for an overview of the target area.
Figure 1 Target area where drill permit has been received on the Lithium381 Property.
Figure 2 Location of
The Lithium381 Property
The Property is located in
The 21 mineral claims comprising the 1107 ha property are contiguous with Allkem Limited’s James Bay Lithium Property hosting a deposit with Indicated resources of 40.8 Mt @1.40% Li2O. The James Bay Lithium deposit is a lithium bearing pegmatite, which is slated to start construction in Q1 2023. (Source: Allkem Feasibility Study filed by Allkem on SEDAR on
The Property has not previously been explored for lithium bearing pegmatites but is underlain primarily by amphibolite facies metasedimentary and minor metavolcanic rocks of the
Clarity recently entered into an option agreement to earn an undivided 50% right, title, ownership and beneficial interest of the Lithium381 Property from Genius Metals Inc., an arm’s length public company listed on the
Qualified Person
Mr.
About Clarity
Clarity recently entered into an option agreement to acquire 50% of the
The Company also recently acquired 100% of the Fecteau project located in the prolific Abitibi gold belt adjacent to Osisko Mining’s Windfall project. See Clarity news release dated
Additionally, Clarity has title on several early-stage projects in
- Empirical Gold Copper Molybdenite Property (10,518 ha) –
Lillooet, B.C. - Tyber Gold Copper Silver Property (928 ha) –
Southeast Vancouver Island , B.C. - Gretna Green Gold Copper Silver Property (1,331 ha) -
Port Alberni ,Vancouver Island , B.C. - Harp Lake Nickel Property (3,452 ha) –
Labrador, NL - Eddies Cove MVT Property (450 ha) –NW Newfoundland
- Hare Bay Nickel Property (750 ha) –NW Newfoundland
To learn more about
ON BEHALF OF THE BOARD
“
Chief Executive Officer
Tel: 1 (833) 387-7436
Email: info@claritygoldcorp.com
Website: www.claritygoldcorp.com
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include statements regarding: the exploration program on the Property; targets that may be generated from the exploration program and the fact the Lithium381 property is a project with favourable underlying geology adjacent to Allkem’s world class lithium deposit and that it hosts the same rocks and geological structure. The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements including: that the Property may not host any lithium at all or any commercially viable grades of lithium; that the Property may not host any lithium resources like Allkem’s adjacent property; that the Company may not complete the exploration program on the Property as proposed; adverse market conditions; and other factors beyond the control of the parties. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include general market conditions and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
The Canadian Securities Exchange (operated by
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/dc8e4ac1-04e4-403d-a675-fc52cc1d5dcd
https://www.globenewswire.com/NewsRoom/AttachmentNg/e2848121-8eb3-452b-b92d-47312411c5ba
Figure 1
Target area where drill permit has been received on the Lithium381 Property.
Figure 2
Location of Lithium381 Project showing nearby properties and total pit outline on Allkem’s James Bay Lithium Project from the Allkem Feasibility Study.
2023 GlobeNewswire, Inc., source