With properties covering 14,182 hectares, the Company is the second largest landholder in Brazil’s “Lithium Valley”, in northern Minas Gerais State,
Salinas Drill Intercept Highlights:
- 1.59% Li2O over 15.0m, directly at surface from 42 metres (hole BGDD-23-095)
- 1.58% Li2O over 9.0m (hole BGDD-23-098)
- 1.13% Li2O over 9.1m, including 1.61% Li2O over 4.0m (hole BGDD-23-100)
- 0.96% Li2O over 11.0m, including 1.21% Li2O over 5.0m (hole BGDD-23-102)
The Company is actively drilling at Salinas, one of its main targets of the 50,000-metre drill program planned for 2024, where it is testing and delineating multiple outcropping spodumene-rich pegmatite bodies. Approximately 25,000 metres (105 holes) have been completed at Salinas since the Company began drilling in
Figure 1. Salinas Lithium Project Location & Drill Intercept Highlights
View Figure 1 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/efad2631-1c25-4fd2-9ca7-2f285c6d56e9
Table 1. Salinas Drill Results
Hole ID | Az | Dip | From | To | Metres | Li2O (%) |
BGDD-23-094 | 310 | -79 | 206.50 | 208.50 | 2.00 | 0.58 |
and | 223.17 | 226.40 | 3.23 | 0.48 | ||
and | 279.34 | 282.39 | 3.05 | 1.41 | ||
BGDD-23-095 | 310 | -70 | 42.16 | 57.16 | 15.00 | 1.59 |
BGDD-23-098 | 260 | -75 | 199.70 | 208.70 | 9.00 | 1.58 |
BGDD-23-099 | 0 | -90 | 63.06 | 66.10 | 3.04 | 0.95 |
and | 109.22 | 114.22 | 5.00 | 0.93 | ||
including | 109.22 | 112.22 | 3.00 | 1.24 | ||
BGDD-23-100 | 310 | -60 | 120.18 | 129.25 | 9.07 | 1.13 |
including | 120.18 | 124.18 | 4.00 | 1.61 | ||
BGDD-23-101 | 310 | -60 | nsv | |||
BGDD-23-102 | 310 | -60 | 65.94 | 70.98 | 5.04 | 1.29 |
and | 75.43 | 86.40 | 10.97 | 0.96 | ||
including | 76.43 | 81.43 | 5.00 | 1.21 |
*No significant results/values (nsv) for holes BGDD-23-101
**Assays pending for holes: BGDD-23-096 and BGDD-23-103 to BGDD-23-107
***Hole BGDD-23-097 reported on
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During the drill program, assay samples were taken from NQ core and sawed in half. One-half was sent for assaying at
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The technical information in this news release has been reviewed and approved by
The technical information relating to the historical exploration conducted by Neolit is historical in nature and has not been independently verified by
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Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the prospectivity of Salinas and the Company’s other mineral properties, the economic viability of the Bandeira, the mineralization and development of the Company’s mineral properties, the Company’s exploration program and other mining projects and prospects thereof, the Company’s ability to complete a Feasibility Study, the Company’s ability to complete a NI 43-101 mineral resource estimate for Salinas, the Company’s ability to complete an environmental impact assessment and obtain the requisite permitting and approvals and the Company’s future plans. Such statements and information reflect the current view of the Company. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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Figure 1
Salinas Lithium Project Location & Drill Intercept Highlights
2024 GlobeNewswire, Inc., source