Val-d’Or, Quebec, August 09, 2021 – Vision Lithium Inc. (TSXV: VLI) (OTCQB: ABEPF) (FSE: 1AJ2) (the “Company” or “Vision Lithium”) is pleased to announce the start of a planned 4,000-metre diamond drilling program, testing deep porphyry/skarn copper targets and shallow polymetallic (Cu-Zn; Zn-Pb-Ag, Au) targets on its Dôme Lemieux property located in Gaspésie Copper District of Quebec, Canada.
The initial drill hole will be testing an interpreted deep copper porphyry/skarn target on the Dôme Lemieux (see Figure 1). The drill targets were generated from the compilation and interpretation of multiple previous geophysical, geological, geochemical and gravity surveys and drilling programs augmented by a recently completed property-wide 1,600 line-km helicopter-borne high resolution magnetic survey (MAG).
Figure 1 – Dôme Lemieux Drill Targets
The Dôme Lemieux property covers 12,056 ha (120.6 km2) in Eastern Québec in the Gaspésie region and is host to over 20 polymetallic mineral occurrences ranging from structurally controlled Zn-Pb-Cu-Ag zones to massive chalcopyrite veins to high grade Pb-Zn-Ag veins at the historic Federal mine. The property is located in a geological and structural corridor that hosts the past producing copper mines of Gaspé Copper Mine in Murdochville, which produced 141,655,000T @ 0.85% Cu from 1955 to 1999 and the Madeleine Mine, which produced 8,134,000T @ 1.08% Cu and 9.0 g/t Ag prior to 1982. These mines are outside the Dôme Lemieux property boundaries but along the same geological structure. The historical results obtained at the Gaspé Copper Mine and the Madeleine Mine are not an indication of the mineralization present on the Dôme Lemieux property.
Red Brook Copper-Zinc Property
Vision Lithium recently completed its planned 7 hole, 1,500-metre, drill program on its Red Brook Cu-Zn property located in Northern New Brunswick, Canada. The drill program on Red Brook tested several high-priority targets on the property (see Figure 2). These targets were generated from a recent airborne Electro Magnetic (EM) survey and from historical Induced Polarization (IP) anomalies. Core logging and sampling are ongoing. Samples will be forwarded to the labs in the coming days and weeks. This initial program will enable a better understanding of the mineralizing events on the property.
Figure 2 – Red Brook Drill Targets from MAG-EM Surveys
The Red Brook Cu-Zn-Ag-Au mineral exploration property is located approximately 60 km west of the Bathurst volcanogenic massive sulphide (VMS) District. Diamond drilling in the early 1960s intersected porphyry/skarn type copper and zine occurrences near the western limit of the property dubbed the Red Brook zone. More recently, previous explorers completed ground prospecting and stripping, trenching and sampling of the Red Brook zone revealing complex breccia mineralization with zones of high-grade zinc mineralization and widespread low grade copper mineralization. Outcrop sampling returned zinc values of up to 15% Zn as well as gold and copper values up to 2.62 g/t Au and 0.5% Cu.
Yves Rougerie, President and CEO of Vision Lithium commented, “I am pleased we have commenced the first drill hole into the copper porphyry target at Dôme Lemieux. This deep target has never been tested, based on historic work reports. The Gaspésie Copper District is a prolific historic copper region of Quebec and we have applied modern tools including a high-resolution MAG survey along with 3D modelling and data compilation to identify the best target for our first hole. Porphyry copper deposits are currently the largest source of copper ore globally and tend to be very large and so a successful drill hole would be very meaningful to Vision Lithium. In addition, we have other targets on the Dôme Lemieux property which we will look to drill following the initial hole but for which permitting is still pending.”
Rougerie continued, “Red Brook drilling is going well, and we anticipate completing the program in the next week or so. We look forward to compiling and interpreting the results of the program once assays are received. We are also considering doing some additional trenching and stripping on Red Brook and our nearby Benjamin properties for which we are already permitted. With respect to our lithium assets, we expect to begin work on the Manitoba lithium project later in the year pending permitting and to send a prospecting and mapping crew to the Sirmac project shortly.”
Qualified Person and Third-Party Data
The scientific and technical information in this press release has been reviewed and approved by Yves Rougerie, Geologist, President and CEO of the Company (the “Qualified Person”). Mr. Rougerie is a “qualified person” as defined in NI 43-101.
About Vision Lithium Inc.
Vision Lithium Inc. is a junior exploration company focused on exploring and developing high quality mineral assets including copper, and lithium in Canada. The Company is led by skilled and qualified mineral exploration experts and business professionals with a deep understanding of the lithium battery materials market, which is driven by lithium-ion batteries. Vision Lithium is committed to discovering new world class assets and bringing these assets to production, starting with the Godslith lithium property located in Manitoba; the Sirmac lithium property and the Dôme Lemieux porphyry/skarn copper-zinc property, both located in Quebec; and its skarn and breccia polymetallic Red Brook and Benjamin properties in Northern New Brunswick.
For further information on the Company, please visit our website at www.visionlithium.com or contact us at [email protected].
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This press release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the Company’s plans for further drilling and exploration, the long-term prospects of the battery materials markets, and the future business and operations of the Company. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks and other factors include, but are not limited to: additional drilling and exploration may lead to a determination that there is no potentially viable mine plan for any of the Company’s properties; general business, economic, competitive, political and social uncertainties; delay or failure to receive board, stakeholder or regulatory approvals; the ability of the Company to execute and achieve its business objectives; changes in equity markets; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. There can be no assurance that the forward-looking statements 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 statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
For additional information regarding this press release, please contact:
| Victor Cantore
Executive Chairman Tel: 514-831-3809 Email: [email protected] |
Yves Rougerie
President and Chief Executive Officer Tel: 819-316-0474 Email: [email protected] |