Comet
Comet Lithium has identified multiple high-priority drill targets in the southwestern corner of the Liberty Property.
Data acquisition and interpretation was completed under the supervision of Geophysique TMC and NewGen Geo which both specialize in the application of geophysics to pegmatite exploration. The survey covered areas on trend with the neighbouring Adina lithium deposit (the 'Adina Property') owned by
The gravity processing delineates pegmatites and suggests the main Adina Property - Far East pegmatite corridor could extend beyond the existing drilling to the east. A significant 900-meter-long target analogous to the main Jamar pegmatite lies approximately 50 metres east of the southwestern border and likely under shallow cover. A second target 500-metre-long has been identified along the same trend further to the east.
Gravity geophysics has proven to be an effective tool in delineating these structures which remain open along strike to the east and to the north of the existing and completed survey. Planning is underway to potentially extend survey areas to the east and north of the Liberty Property.
Highlights from Gravity Survey Results: Two significant, high-priority drill ready lithium targets identified.
Largest target spans 900-meter-long and adjacent to the Adina Property- Far East pegmatite corridor.
Secondary target 500-meter-long has been identified along the same trend.
A total of 21 low-density anomalous structures have been interpreted which are mostly included within the confines of weakly magnetic horizons/beds and in the probable eastern continuity of the Adina Property's prospective pegmatite corridor.
2023 Gravity Survey Program Outline
The ground gravity survey covered an area of approximately 2.5 km2 for a total of about 1,217 stations, which followed a 20 metre x 100 metre grid pattern. The fieldwork took place
The gravity method measures spatial variations in the Earth's gravity field caused by contrasts in rock density. The intrusion of an elongated mineralised pegmatite swarm into mafic and ultramafic basement rocks at the Liberty Property is anticipated to be expressed as a detectable, subdued gravity response.
The Corporation will be using the collected and processed data to better interpret the subsurface geology and structures of the Liberty Property and detect potential pegmatite contacts in amphibolitized basalt. The gravity survey data will help direct the 2024 planned field work program and will enable drill target generation and assist validating the possibility that the Liberty Property and Adina Property together may potentially be part of a similar corridor. Overall, 21 low-density anomalous structures have been interpreted which are mostly included within the confines of weakly magnetic horizons/beds and in the probable eastern continuity of the Adina Property prospective pegmatite corridor. The recommended follow-up works on the Property Liberty include ground controls/trenching and/or drilling to ascertain the geological origin of seven distinct anomalies.
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Forward-Looking Statements
This news release contains statements that may constitute 'forward-looking information' within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Comet Lithium, or the assumptions underlying any of the foregoing. In this news release, words such as 'may', 'would', 'could', 'will', 'likely', 'believe', 'expect', 'anticipate', 'intend', 'plan', 'estimate' and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including the additional interpretation of the 2023 gravity survey; the timing to apply for the drill permits for the newly identified targets and to obtain such permits, if obtained; if any of the planned exploration programs, including the recommended follow-up works and drill program on the Liberty Property will occur, the timing of and results of such exploration programs, if it does so, what benefits Comet Lithium will derive from any such exploration programs, the market and global demand as well as the
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