Highlights
- Given the potential of the region, the purpose of the program was to identify lithium bearing structures resembling the adjacent properties held by Green Technology Metals Limited (“GT1”) and Antler Gold Inc. (“Antler”).
- Mapping and sampling done which indicate several positive mineral occurrences leading to further planned exploration.
- 2023 prospecting program yielded several highly anomalous results in both lithium (Li) and tantalum (Ta), with notable samples including:
| 223 ppm Li | |
| 175 ppm Li | |
| 98 ppm Ta | |
| greater than 100 ppm Ta |
All results of the samples are listed in Table 1 below.
- The results of the samples were above the crustal average for all four elements tested, supporting GCOM’s thesis that the Project’s pegmatites are sourced from a peraluminous granite melt and, in a region, prospective for Li bearing pegmatites.
- The results are currently being used to plan further exploration work in 2024.
Figure 1 – 2023 Sampling Program at the
2023 Sampling Program
The 2023 sampling program consisted of reconnaissance prospecting and geological mapping conducted by
A total of 287 mapped features and 89 samples were collected on the Project with results from rock chip sampling and prospecting showing above average crustal levels for 17 out of 89 samples for the following four elements: Li (20 ppm), Cs (4 ppm), Rb (112 ppm) and Ta (2 ppm). In addition, the mean for all of the samples is above the crustal averages for all four elements supporting the model that the
The primary focus of the 2023 exploration program was to define and better understand the lithium bearing pegmatite placement on the Project in order to develop targets for future exploration programs. Samples were chosen based on visual observations of pegmatites with favourable Li-bearing mineralization, beryl, muscovite, tourmaline. The collection sites of the prospecting samples and lithology mapping are illustrated in Figure 1.
Additionally, geochemical analysis of the samples shows a positive A/CNK ratio. The A/CNK molecular ratio [Al2O3/(CaO + Na2O + K2O)] which is commonly used to indicate whether a sample or a stock/pluton is mildly peraluminous (A/CNK = 1.0 to 1.1) or strongly peraluminous (A/CNK > 1.2). The A/CNK ratio, the higher the aluminum content and the greater the abundance of aluminum-rich minerals, such as garnet and muscovite which are the more common minerals in a fertile pluton. In short, barren granites will have a low A/CNK ratio, fertile granites will have a moderate A/CNK ratio and rare-element pegmatites will have a high A/CNK (F. W. Breaks, 2006). In this case, a 1.71 average A/CNK for all the samples is considered in the vicinity of a strongly peraluminous fertile pluton.
Table 1 – Relevant analytical results of samples are listed below and include lithium, cesium, rubidium and tantalum.
Sample ID | Easting NAD83 | Easting NAD83 | Cs (ppm) | Li (ppm) | Rb (ppm) | Ta (ppm) | A/CNK |
1290001 | 411164 | 5587355 | 5 | 6 | 283 | 9 | 1.66 |
1290002 | 411158 | 5587368 | 14 | 5 | 544 | 28 | 1.41 |
1290003 | 411263 | 5588072 | 6 | 5 | 124 | 0 | 1.45 |
*1290004* | 411184 | 5588531 | 10 | 25 | 498 | 5 | 1.73 |
1290005 | 411624 | 5588578 | 119 | 17 | 690 | 2 | 1.55 |
1290006 | 411637 | 5588572 | 54 | 10 | 475 | 4 | 1.49 |
*1290007* | 411569 | 5588296 | 21 | 53 | 725 | 2 | 2.40 |
1290008 | 411573 | 5588302 | 2 | 50 | 69 | 1 | 1.79 |
*1290009* | 411532 | 5588269 | 14 | 37 | 488 | 6 | 1.87 |
*1290010* | 411465 | 5588235 | 6 | 27 | 174 | 37 | 1.87 |
1290011 | 411871 | 5588878 | 1 | 17 | 13 | 0 | 0.84 |
1290012 | 411877 | 5588589 | 1 | 11 | 7 | 40 | 1.52 |
1290013 | 411879 | 5588591 | 1 | 4 | 3 | 6 | 1.55 |
1290014 | 411862 | 5588601 | 17 | 14 | 200 | 87 | 1.67 |
1290015 | 412047 | 5588405 | 3 | 12 | 72 | 0 | 1.93 |
1290016 | 411562 | 5588233 | 2 | 43 | 58 | 1 | 1.53 |
1290017 | 411373 | 5588147 | 1 | 6 | 63 | 0 | 1.49 |
*1290018* | 411355 | 5588099 | 43 | 175 | 771 | 8 | 2.15 |
*1290019* | 411340 | 5588109 | 17 | 58 | 537 | 5 | 1.81 |
*1290020* | 411346 | 5588104 | 11 | 25 | 254 | 17 | 1.50 |
1290021 | 411353 | 5588102 | 10 | 96 | 169 | 2 | 1.44 |
*1290022* | 411338 | 5588116 | 26 | 22 | 514 | 3 | 1.50 |
1290023 | 411311 | 5588137 | 18 | 9 | 251 | 1 | 1.83 |
1290024 | 411249 | 5587981 | 4 | 8 | 63 | 0 | 1.60 |
1290025 | 411254 | 5587991 | 3 | 10 | 46 | 0 | 1.57 |
1290026 | 411263 | 5587990 | 3 | 23 | 44 | 1 | 1.57 |
1290027 | 411334 | 5587968 | 3 | 7 | 70 | 0 | 1.67 |
1290028 | 411373 | 5588033 | 1 | 5 | 34 | 4 | 1.59 |
1290029 | 411372 | 5588025 | 8 | 2 | 158 | 3 | 1.66 |
1290030 | 411381 | 5588045 | 2 | 4 | 49 | 8 | 1.51 |
*1290031* | 412012 | 5588075 | 22 | 21 | 297 | 34 | 1.69 |
1290032 | 411493 | 5587940 | 1 | 4 | 41 | 6 | 1.67 |
1290033 | 411492 | 5587953 | 2 | 3 | 54 | 0 | 1.68 |
1290034 | 411447 | 5587983 | 4 | 6 | 100 | 3 | 1.52 |
1290035 | 411417 | 5587940 | 1 | 5 | 53 | 0 | 1.44 |
1290036 | 411378 | 5587909 | 2 | 6 | 54 | 0 | 1.88 |
1290037 | 411260 | 5587934 | 15 | 5 | 269 | 1 | 2.04 |
*1290038* | 411219 | 5588090 | 21 | 36 | 371 | 4 | 1.94 |
1290039 | 411153 | 5588193 | 4 | 9 | 64 | 1 | 1.59 |
1290040 | 411083 | 5588153 | 2 | 7 | 37 | 0 | 1.57 |
1290041 | 411116 | 5588132 | 8 | 11 | 108 | 3 | 1.43 |
1290042 | 411072 | 5588121 | 3 | 9 | 52 | 1 | 1.41 |
1290043 | 410971 | 5588064 | 5 | 11 | 59 | 0 | 1.62 |
1290044 | 410533 | 5587911 | 8 | 12 | 50 | 0 | 1.89 |
1290045 | 410476 | 5587873 | 6 | 17 | 80 | 4 | 1.98 |
*1290046* | 410413 | 5587915 | 14 | 26 | 159 | 12 | 1.71 |
1290047 | 410410 | 5587922 | 5 | 22 | 43 | 1 | 2.22 |
1290048 | 410477 | 5587945 | 12 | 74 | 74 | 0 | 1.71 |
1290049 | 410477 | 5587940 | 12 | 47 | 93 | 0 | 1.65 |
1290050 | 410572 | 5588060 | 3 | 23 | 18 | 0 | 1.65 |
1290051 | 410589 | 5588082 | 12 | 8 | 197 | 16 | 1.52 |
1290052 | 410582 | 5588092 | 4 | 31 | 56 | 0 | 1.71 |
1290053 | 410604 | 5588052 | 11 | 4 | 449 | 2 | 1.56 |
1290054 | 410604 | 5588058 | 3 | 24 | 55 | 0 | 1.76 |
1290055 | 410694 | 5588121 | 6 | 16 | 52 | 0 | 1.75 |
1290056 | 410691 | 5588135 | 7 | 9 | 47 | 0 | 2.00 |
1290057 | 410985 | 5588325 | 3 | 23 | 27 | 1 | 1.66 |
1290058 | 411020 | 5588340 | 6 | 11 | 86 | 1 | 1.77 |
*1290059* | 411347 | 5587807 | 32 | 21 | 232 | 2 | 1.77 |
1290060 | 411366 | 5587807 | 6 | 21 | 45 | 0 | 1.65 |
1290061 | 411386 | 5587847 | 20 | 8 | 49 | 1 | 2.10 |
1290062 | 411370 | 5587859 | 12 | 12 | 61 | 1 | 2.17 |
1290063 | 411387 | 5587848 | 5 | 8 | 84 | 0 | 2.07 |
1290064 | 411251 | 5588502 | 41 | 18 | 1000 | 98 | 1.84 |
1290065 | 411259 | 5588501 | 33 | 24 | 943 | 37 | 2.36 |
1290066 | 411274 | 5588460 | 39 | 5 | 1640 | >100 | 1.62 |
1290067 | 411261 | 5588195 | 48 | 18 | 424 | 20 | 1.91 |
*1290068* | 411238 | 5588169 | 23 | 24 | 435 | 13 | 1.66 |
*1290069* | 411237 | 5588170 | 40 | 26 | 517 | 16 | 1.76 |
1290070 | 411094 | 5588039 | 3 | 11 | 60 | 1 | 1.68 |
1290071 | 411522 | 5587721 | 3 | 6 | 67 | 1 | 1.75 |
1290072 | 411505 | 5587581 | 6 | 13 | 68 | 0 | 2.09 |
1290073 | 411418 | 5587479 | 2 | 7 | 54 | 0 | 1.92 |
1290074 | 411356 | 5587429 | 6 | 11 | 70 | 0 | 1.58 |
1290075 | 412481 | 5587212 | 2 | 8 | 62 | 0 | 1.54 |
1290076 | 412605 | 5587237 | 4 | 10 | 109 | 1 | 1.26 |
1290077 | 412570 | 5587466 | 1 | 6 | 64 | 5 | 1.24 |
1290078 | 412946 | 5587194 | 1 | 6 | 45 | 3 | 1.59 |
1290079 | 412952 | 5587153 | 2 | 5 | 91 | 4 | 1.67 |
1290080 | 412974 | 5587134 | 1 | 4 | 30 | 2 | 1.60 |
1290081 | 413001 | 5587105 | 3 | 6 | 97 | 2 | 1.69 |
1290082 | 412948 | 5587102 | 4 | 9 | 84 | 1 | 1.52 |
1290083 | 412909 | 5587092 | 5 | 2 | 94 | 0 | 1.89 |
1290084 | 411716 | 5587300 | 4 | 7 | 95 | 0 | 1.45 |
1290085 | 411776 | 5587344 | 3 | 6 | 79 | 0 | 1.70 |
1290086 | 411809 | 5587227 | 1 | 5 | 76 | 0 | 1.92 |
1290087 | 411881 | 5587152 | 4 | 4 | 94 | 0 | 2.07 |
1290088 | 411904 | 5587149 | 4 | 7 | 69 | 0 | 1.66 |
*1290089* | 411189 | 5588532 | 141 | 223 | 511 | 17 | 1.67 |
1290090 | 411163 | 5588545 | 3 | 17 | 32 | 2 | 0.88 |
*1290091* | 411186 | 5588530 | 21 | 142 | 1240 | 4 | 2.98 |
Annotated samples indicate samples with above average crustal levels for Cs, Li, Rb, and Ta.
Note the above samples are selected rock chip samples. They do necessarily reflect the average grade of the outcrop. There are no known factors that are expected to materially affect the accuracy or reliability of the data referred to above.
Quality Assurance/Quality Control
All samples were submitted to
Mapping station and UTM coordinates (NAD83 UTM 16N) were recorded using a handheld GPS and data such as lithology, texture, mineral content, alteration, and a general rock description for each rock sample taken. Each representative grab sample was taken from an outcrop using a hammer. From there, the sample was placed into a poly sample bag along with a sample tag labeled with a corresponding sample number from a sample tag booklet. Flagging tape was used to mark the sample location on the ground as well as on a nearby tree. Access was derived from
Filing of Technical Report
The Company has filed an initial technical report (the “Technical Report”) on the
Options Granted
The Company is also announcing that it has granted a total of 4,250,000 stock options (“Options”) to various directors, officers, employees and consultants of the Company.
Each Option is exercisable to acquire one common share of the
Technical Disclosure and Qualified Person
The scientific and technical information contained in this news release was reviewed and approved by
Please note that the QP did not review the samples in the field that were included in this report. The rock chip samples were collected by contract prospectors.
About
For further information, please contact:
Trumbull Fisher
Director and CEO
Email: tfisher@greenshiftcommodities.com
Tel: (416) 917-5847
Website: www.greenshiftcommodities.com
Twitter: @greenshiftcom
LinkedIn: https://www.linkedin.com/company/greenshiftcommodities/
Forward-Looking Statements
This news release includes certain “forward looking statements”. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intensions for the future, and include, but not limited to, statements with respect to: the completion of future exploration work and the potential results of such test work; the future direction of the Company’s strategy; and other activities, events or developments that are expected, anticipated or may occur in the future. These statements are based on assumptions, including that: (i) the ability to achieve positive outcomes from test work; (ii) actual results of exploration, resource goals, metallurgical testing, economic studies and development activities will continue to be positive and proceed as planned, (iii) requisite regulatory and governmental approvals will be received on a timely basis on terms acceptable to Green Shift (iv) economic, political and industry market conditions will be favorable, and (v) financial markets and the market for uranium, battery commodities and rare earth elements will continue to strengthen. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements, including, but not limited to: (1) changes in general economic and financial market conditions, (2) changes in demand and prices for minerals, (3) the Company’s ability to source commercially viable reactivation transactions and / or establish appropriate joint venture partnerships, (4) litigation, regulatory, and legislative developments, dependence on regulatory approvals, and changes in environmental compliance requirements, community support and the political and economic climate, (5) the inherent uncertainties and speculative nature associated with exploration results, resource estimates, potential resource growth, future metallurgical test results, changes in project parameters as plans evolve, (6) competitive developments, (7) availability of future financing, (8) the effects of COVID-19 on the business of the Company, including, without limitation, effects of COVID-19 on capital markets, commodity prices, labor regulations, supply chain disruptions and domestic and international travel restrictions, (9) exploration risks, and other factors beyond the control of Green Shift including those factors set out in the “Risk Factors” in our Management Discussion and Analysis dated
Neither the
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bf55a56d-0e28-493b-b5bf-d4cbc53d45f9
Figure 1
2023 Sampling Program at the Armstrong Project in Northern Ontario
2024 GlobeNewswire, Inc., source