New Lithium Soil Anomalies Detected at Preissac

TORONTO, April 11, 2024 (GLOBE NEWSWIRE) -- Consolidated Lithium Metals Inc. (TSXV: CLM | OTCQB: JORFF | FRA: Z36) (“CLM” or the “Company“) is pleased to announce that analytical results have been received for the 873 soil samples collected during the 2022 and 2023 fall exploration programs at the Company’s 100% owned Preissac-LaCorne Lithium Project, located in the Abitibi Greenstone Belt approximately 29 km northwest of Val-d’Or, Quebec (see Figure 1).

A total of nine lithium soil anomalies have been identified at Preissac-LaCorne to date (shown in Figure 2): 

1. Athona Anomaly
2. Key West Anomaly
3. Narwhal Anomaly
4. NW Buffalo Anomaly
5. West BaMo Anomaly
6. SE Preissac Anomaly
7. NW Narwhal Anomaly
8. South Key West Anomaly
9. SW Narwhal Anomaly

Each anomaly consists of samples containing greater than 100 ppm lithium. Five of these anomalies (1-3 & 7-8) are located within the heart of the Vallée Lithium Trend Survey in the Northeast area of the property; along strike of the pegmatites comprising Sayona’s North American Lithium Operation and to lithium mineralization encountered on FE Battery Metal’s Augustus Property (see Figure 2). Three single sample anomalies (4-6) are located in the southern half of the property within the area sampled during the 2022 soil sampling program. 

The 2022 soil sampling property-wide survey was completed on 400 m x 200 m sample station spacings (608 samples). The 2023 soil sampling property-wide survey was completed on 200 m x 100 m sample station spacings (265 samples).

Richard Quesnel, CLM’s Executive Chairman stated, "The size and intensity of the lithium-in-soil anomalies at Athona, Key West, and Narwhal, are significant developments for CLM. All three anomalies are within the Vallée Lithium Trend, along the strike of three known, lithium-bearing pegmatite swarms. The East Preissac area has become a high priority exploration target for the Company. We are eagerly looking forward to the results of our upcoming three-phase exploration program this summer."

Detailed description of each anomaly

1. Athona Anomaly

The Athona Anomaly is comprised of five sub-subsections scattered over a 1,600 m long by 650m wide (see Figure 3). Lithium soil concentrations in the Athona Anomaly range from 165 ppm Li to 348 ppm Li. The sub-sections of the Athona Anomaly surround the New Athona Mo-Li Occurrence, which was discovered in 1960. Grab samples ranging up to 11.99% Mo and 0.28% Li₂O have been reported at the New Athona Mo-Li Occurrence (see Government of Quebec, SIGEOM website at:

https://sigeom.mines.gouv.qc.ca/signet/classes/I1103_index?format=COMPLET&type_reqt=U&mode=NOUVELLE&l=F&entt=GM&numr_utls=174579064607&alias_table_crit=F4E02&mnen_crit=NUMR_INTER&oper_crit=EGAL&valr_crit=5431

The Athona Anomaly is located 2.1 km west of the eastern property boundary and is along strike of the Keyboycon Lithium Showing on the adjacent property (see Figure 3). Only one historical drill hole is present between the Athona Anomaly and the Keyboycon Lithium Showing.

Seven short holes have been drilled at the New Athona Mo-Li Occurrence. While each hole contained anomalous molybdenum, none of the holes were sampled for lithium (see Government of Quebec, SIGEOM website at

https://sigeom.mines.gouv.qc.ca/signet/classes/I1103_index?l=f&type_reqt=U&entt=LG&mode=NOUVELLE&format=RESUME&alias_table_crit=EXADOC&mnen_crit=NUMR_RAPR&oper_crit=EGAL&valr_crit=GM%2017912

2. Key West Anomaly

The Key West Anomaly is 1,400 m long and up to 200 m wide and is defined by eight anomalous samples ranging from 157 ppm Li to 248 ppm Li. The anomaly is located 1,600 m west of the property boundary and is underlain by metasedimentary rocks located less than 200 m north of the LaCorne Batholith margin, the same stratigraphic and structural location of the nearby Canada Lithium/Beluga lithium occurrence on the adjacent property (see Figure 3). 

3. Narwhal Anomaly

The Narwal Anomaly is 800 m long and up to 150 m wide extending westward from the eastern property boundary. The anomaly is located immediately along strike of lithium-bearing pegmatites discovered on the adjacent property (see Figure 3). The Narwhal Anomaly has never been tested with a drill hole. The anomaly consists of two samples, one of which returned 180 ppm Li and the other 260 ppm Li.

4. NW Buffalo Anomaly

The NW Buffalo Anomaly returned a sample at 158 ppm Li and is located on the west side of the property, 400 m west of the Buffalo Canadian-Abitibi Beryl Occurrence. No known historical drilling has been completed in the NW Buffalo Anomaly Area according to the Government of Quebec SIGEOM website.

5. West BaMo Anomaly

The West BaMo Anomaly consists of single sample containing 243 ppm Li and is located 400 m west of the known Baillargé Molybdènum Occurrence. No known historical drilling has been completed in the West BaMo Anomaly Area according to the Government of Quebec SIGEOM website.

6. SE Preissac Anomaly

The SE Preissac Anomaly is 136 ppm Li and is located on the southeast corner of the property. No known historical drilling has been completed in the SE Preissac Anomaly Area according to the Government of Quebec SIGEOM website.

Given that the anomalies (4-6) occur within the 400 m x 200 m soil sample survey area, additional soil sampling, prospecting, and geological mapping is warranted in the vicinity of these three showings and will be undertaken in future exploration programs. 

7. NW Narwhal Anomaly

The NW Narwhal Anomaly is a single sample anomaly of 157 ppm Li located 650 m northwest of the Narwhal Anomaly within the Vallée Lithium Trend. No known historical drilling has been completed in the area according to the Government of Quebec SIGEOM website.

8. South Key West Anomaly

The South Key West Anomaly is a single sample anomaly of 138 ppm Li located 100 m south of the Key West Anomaly within the Vallée Lithium Trend. No known historical drilling has been completed in the area according to the Government of Quebec SIGEOM website.

9. SW Narwhal Anomaly

The SW Narwhal Anomaly is a single sample anomaly of 122 ppm Li located 1,200 m southwest of the Narwhal Anomaly, south of the Vallée Lithium Trend. No known historical drilling has been completed in the area according to the Government of Quebec SIGEOM website.

Upcoming 2024 Exploration Program

The northeast area of the Preissac property is now considered to be a high-priority exploration target.
The Company intends to follow-up the lithium soil anomalies at Athona, Narwhal and Key West this summer with a multi-phased exploration program. Phase I will consist of additional mapping and prospecting in the area of the showings, including the area east of the anomalies extending to property boundary where known lithium-bearing pegmatites have been confirmed by diamond drilling on the adjacent property. Phase II will consist of outcrop stripping, trenching and channel sampling based on the results of the Phase I program. Phase III will consist of follow-up diamond drilling. CLM is current finalizing the plan for the 2024 exploration program for Preissac.

Exploration Program Specifics

About Soil Sampling

Soil samples were collected from the B-horizon of the soil profile in plastic bags shipping to the laboratory for geochemical analysis. The analyses were undertaken by Impact Global Solutions Laboratory in Delson, Quebec. Upon arrival at the laboratory, the samples were dried, weighed, crushed, and split into subsamples of which one 250 g subsample was pulverized to allow 85% of the material to pass through a 75 micron sieve. The sieved subsample was digested in acid and analyzed using ICP-MS, ICP-OES, and SPF.

The Company implemented a QA/QC procedures to ensure the validity of the sampling by using a series of field duplicates and reference standards in each batch of samples sent for analysis. A review of the field duplicates and reference standards indicate that the soil sample results are likely reasonably precise and accurate.

The Impact Global Solutions Laboratory is an ISO/IEC 17025:2017 accredited facility (#889) by the Standards Council of Canada.

Qualified Person

The scientific and technical information contained herein has been reviewed and approved by Roger Lemaitre, P.Eng., P.Geo., the Company’s Senior Vice President & Head of Mining who is a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Consolidated Lithium Metals Inc.
Consolidated Lithium Metals Inc. (formerly known as Jourdan Resources Inc.) is a Canadian junior mining exploration company trading under the symbol “CLM” on the TSX Venture Exchange and “2JR1” on the Stuttgart Stock Exchange. The Company is focused on the acquisition, exploration, production, and development of mining properties. The Company’s properties are in Quebec, Canada, primarily in the spodumene-bearing pegmatites of the La Corne Batholith, around North American Lithium’s Quebec lithium mine.

For more information:
Roger Lemaitre, Senior Vice President & Head of Mining
Email | [e-mail]
Phone | [phone]
Website |www.consolidatedlithium.com

Cautionary Statements

The content and grades of any mineral deposits at the Company’s properties are conceptual in nature. There has been insufficient exploration to define a mineral resource on its properties and it is uncertain if further exploration will result in any target being delineated as a mineral resource. In addition, sample results at or around, and information applicable to, New Athona, the North American Lithium or Molybdenite Corporation mines are not indications of results that could be obtained at, or information applicable to, any of CLM’s properties.

This press release contains “forward‑looking information” within the meaning of applicable Canadian securities legislation. Forward‑looking information includes, but is not limited to, statements with respect to the scope, objectives, and expected results of the Company’s summer 2023 exploration program and the Company’s ability to execute its business plan. Generally, forward‑looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward‑looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of CLM to be materially different from those expressed or implied by such forward‑looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages and other risks of the mining industry. Although CLM has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‑looking information. CLM does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER 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.

Appendix

Figure 1 - CLM Regional Projects Map - Property boundaries from Company resources and historical drill hole, geology and showing information from the Government of Quebec website https://sigeom.mines.gouv.qc.ca/signet/classes/I1108_afchCarteIntr

Figure 2 - Lithium-in-soil anomalies defined by the 2022 and 2023 property-wide soil sampling program at the Preissac-LaCorne Project

Figure 3 - Lithium-in-soil results from the Northeast area of the Preissac-LaCorne Property

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/3e4ef5d1-f885-49b0-a5b6-c137a66ebcf1

https://www.globenewswire.com/NewsRoom/AttachmentNg/d173b7fe-7918-4a8d-98bd-90230feb74dd

https://www.globenewswire.com/NewsRoom/AttachmentNg/0507e279-4362-4763-b202-36188509065c

Figure 1

CLM Regional Projects Map - Property boundaries from Company resources and historical drill hole, geology and showing information from the Government of Quebec website

Figure 2

Lithium-in-soil anomalies defined by the 2022 and 2023 property-wide soil sampling program at the Preissac-LaCorne Project

Figure 3

Lithium-in-soil results from the Northeast area of the Preissac-LaCorne Property

Source: Consolidated Lithium Metals Inc.

2024 GlobeNewswire, Inc., source Press Releases

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