WESTMOUNT MINERALS CORP. Report Highlights:
Summer program comprised inaugural mapping and sampling of abundant pegmatite occurrences.
Mineralized pegmatite contains white micas, garnet and tourmaline.
Geochemical analyses show good potential for lithium mineralization with eight samples returning lithium values greater than 50 ppm.
Vancouver, British Columbia--(Newsfile Corp. - November 23, 2023) - Westmount Minerals Corp. (CSE: WMC) ("Westmount" or the "Company") announces its summer reconnaissance and sampling program results at the Kaba Lithium Property (the "Property") in Northwestern Ontario. Multiple pegmatite outcroppings containing rare metals and associated lithium mineral indicators have been discovered during the initial program.
Map 1. Priority areas identified for follow-up sampling.
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David Tafel, CEO and Director commented: "Our geological team has confirmed the presence of multiple pegmatite outcroppings as well as lithium indicator minerals. Results from this limited sampling program are encouraging and have identified priority pegmatite focus areas for a follow-on site visit. The results also underscore the Kaba property's strategic location in the Georgia Lake pegmatite area."
The largest pegmatite outcropping discovered to date measured approximately 70m long x 50m wide. Generally, the pegmatites are coarse-grained and composed of quartz and feldspar. Contained mineralization is evidenced by the presence of large "books" of white mica and biotite, red garnets and tourmaline. Multiple sample assay results have revealed interesting values of Boron (up to 670 ppm), Barium (up to 1,750 ppm) and Rubidium (up to 1,320 ppm). In addition, many occurrences displayed very good fractionation and fractionation trends with low ratios of potassium/rubidium. The potassium/rubidium ratio often has a strong correlation to Lithium-enrichment. Priority areas for follow-up sampling have been identified in Map 1. The sample returning a value of 1320 Rb also showed a K/Rb ratio of 58. This was the sample with significant muscovite and tourmaline, located within a promising southern priority area.
The well-known Georgia Lake Lithium-pegmatite field is located just west of the Property. Within the pegmatite field, Rock Tech Lithium Inc. has completed a Pre-Feasibility Study (NR-November 16, 2022) stating its Georgia Lake property has 10.6 million tonnes (mt) of Indicated Mineral Resources and 4.22 mt of Inferred Mineral Resources (NR- March 7, 2023). Other companies with lithium mineralization prospects include Imagine Lithium Inc. and Ultra Lithium Inc. (Map 2)
Map 2. Georgia Lake pegmatite area.
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Qualified Person
The technical content of this news release has been reviewed and approved by Marty Huber, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. The QP and the Company have not completed sufficient work to verify the historic information on the Properties, particularly regarding historical exploration, neighbouring companies, and government geological work.
About Westmount Minerals Corp.
Westmount is focused on mineral exploration in the Americas and is well positioned in the emerging world-class critical minerals district of NW Ontario. The 3,486 hectares, Kaba Lithium Property, is located in the Georgia Lake, lithium-pegmatite region in close proximity to Rock Tech Lithium Inc. Multiple pegmatite showings have been documented and mapped on the Property.
Additionally, Westmount can earn a 100% interest in the 5,002-hectare lithium-pegmatite bearing, Otatakan and Pilot East Lithium Properties located near Ear Falls, Ontario. The Properties are just south of Green Technology Metal's (ASX listed) expanding Root deposit.
The Company has also advanced the Douay East gold property located within the greater Abitibi Greenstone Belt region in Quebec to the drill-ready stage.
On Behalf of the Board of Directors
David Tafel
Chief Executive Officer and Director
For further information, please contact:
David Tafel
Chief Executive Officer and Director
(604) 683-1991
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements:
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company's projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company's projects and mineral properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration of the Company's properties, that a global pandemic such as COVID-19, will not affect the ability of the Company to conduct future exploration of the Company's properties, the availability of financing on suitable terms, and the Company's ability to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's option agreements to acquire its Projects, the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, risks relating to epidemics or pandemics such as COVID-19, financial condition and results of operations, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading "Risk Factors" in the Company's prospectus dated February 14, 2022, and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release except as otherwise required by law.
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