Val-d’Or, Quebec, April 22, 2021 – Vision Lithium Inc. (TSXV: VLI) (OTCQB: ABEPF) (FSE: 1AJ2) (the “Company” or “Vision Lithium”) is pleased to announce the details of its exploration plans for 2021 on its lithium and copper assets located in Quebec, Manitoba and New Brunswick, Canada.
Red Brook, New Brunswick
Red Brook, Epithermal and Benjamin mineral exploration properties comprise three contiguous properties covering 4,760 ha (47.6 km2) located approximately 60 km west of the Bathurst volcanogenic massive sulphide (VMS) District. Historical 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. The property has seen limited drilling and has the potential to host copper porphyry-base metal skarn related mineralization.
- Over the past two months, the Company was active on the Red Brook copper asset and flew a ~900 km helicopter-borne magnetic and electromagnetic survey (MAG-EM) flown at 50-metre spacings over the property. The survey was flown at low altitude and collected high resolution data which is now being interpreted and correlated with historical sample results and drilling to identify high-priority drill targets.
- Geophysics results and details of a planned 1,500-metre drill program, testing targets will be released in Q2, with assay results to follow.
- Ground exploration of the Benjamin and Epithermal properties which are east of Red Brook is also planned for the summer. Groundwork will include prospecting, trenching, and sampling. Results are to be expected in Q3.
Dôme Lemieux, Gaspésie, Québec
The Dôme Lemieux property covers 12,056 ha (120.6 km2) in Eastern Québec in the Gaspésie region and is located in a structural corridor that hosted past producing copper mines (e.g., the Madeleine Mine, which produced 8,134,000T @ 1.08% Cu and 9.0 g/t Ag prior to 1982, the Gaspé Copper Mine in Murdochville, which produced 141,655,000T @ 0.85% Cu from 1955 to 1999, and the Sullipek deposit, which has estimated historical resources of 1.84MT @ 1.39% Cu).* These mines are outside the Dôme Lemieux property boundaries but along the same geological structure. In the past, companies have worked on what is now the Dôme Lemieux property one small block at a time, without having a view of the entire mineralization and structural system. Vision Lithium now owns the entire area and has the opportunity to work and understand the property as a whole mineralizing system, which in fact raises the potential for a major discovery.
- Accordingly, Vision Lithium has planned a 1,600 km helicopter-borne magnetic survey (MAG) in the current quarter. Interpretation of the survey will follow and be released in this quarter. These results will be correlated with historical work done on the property to identify drill targets.
- Following geophysics interpretation, the Company expects to launch a minimum of a 3,000-metre diamond drilling program, testing multiple deep porphyry copper targets and several shallower polymetallic (Cu-Zn; Zn-Pb-Ag, Au) targets.
*Please note that the results obtained at the Madeleine Mine, the Gaspé Copper Mine, and the Sullipek deposit are not an indication of the mineralization present on the Dôme Lemieux property.
Godslith, Gods Lake, Manitoba
The Godslith lithium property covers 5,560 ha (55.6 km2) and is situated in Northern Manitoba. The property hosts an historical resource of 9.4 million tons at 1.21% Li2O. The deposit has only been tested to a depth of 243 m where historical drilling intersected 15.2 m grading 1.49% Li2O.* Furthermore, the mineralized zone is recognized over at least 2.3 km along strike, making this an exceptional target for expansion.
- Vision Lithium has applied for a Mineral Exploration License and is engaging in discussions with the Manto Sipi Cree Nation to sign an exploration agreement. Once the agreement is in place, the Company expects to immediately deploy a geological prospecting team to site to conduct ground proofing, terrain reconnaissance and sampling, as well as verify historical drill collars.
- Vision Lithium expects to initiate a 15,000 m to 20,000 m drill program targeting the historical Godslith lithium deposit over a 2 km strike length on 100 m sections down to 300 m vertical depth.
- In addition, the Company will commence a geochemical sample survey (MMI) in the vicinity of the deposit to test for addition mineralized zones outside the known deposit area.
*See Vision Lithium’s press release dated February 16, 2021 and the independent technical report on the property, dated August 26, 2009, prepared for First Lithium Resources Inc. by qualified person Mark Fedikow Ph.D., P.Eng., P.Geo., C.P.G. in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
Sirmac, Nemaska area, Québec
The Sirmac lithium property covers a total area of approximately 7,670 ha (76.7 km2) and is located approximately 180 km north-west of Chibougamau, in the province of Québec. The property hosts several lithium bearing dikes, including Dike No.5 and the Eastern Dike. Drilling on Dike No. 5 has returned up to 1.70% Li2O over 22 m starting at surface. In addition, Vision Lithium recently produced up to 99.99% lithium carbonate at Lakefield laboratory of SGS Canada Inc. as part of its metallurgical test work program.*
- As soon as spring thaw is completed in the current quarter, Vision Lithium intends to deploy a ground crew to site to conduct a property wide prospecting and geochemical sampling (MMI) campaign with a goal to discover additional mineralized pegmatite Dikes on the property for follow up drilling.
- Assuming a successful prospecting season, the Company will initiate a drill campaign this summer/fall.
*See Vision Lithium’s press release dated February 11, 2021.
Yves Rougerie, President and CEO of Vision Lithium said, “With the completion of our recent financing, we are capitalized to conduct an aggressive exploration program on our properties with a focus on validating and building upon historical work that has been conducted by previous operators. Assuming we have exploration success, the money we are spending in the coming year can be quickly leveraged into tangible valuable assets that are in demand globally as part of the global electrification of vehicles and supporting infrastructure. Copper and lithium prices have both rallied supporting our theory that these metals will continue to be in demand in future.” Rougerie continued, “I also think it is important to point out that all our assets are in politically stable and mining friendly jurisdictions with supportive governments and favourable tax jurisdictions, meaning more money can be spent in the ground to build value for our shareholders.”
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.
Certain information in this press release regarding the presence of mineral deposits and the grades and the size of such deposits is based on information that has been obtained from publicly available information and industry reports, which constitute historical estimates. Such reports generally state that the information contained therein has been obtained from sources believed to be reliable, but the accuracy or completeness of such information is not guaranteed. While the Company considers historical estimates to be relevant to investors, as they may indicate the presence of mineralization, the Qualified Person has not done sufficient work for the Company to classify the historical estimates as current “mineral resources” or “mineral reserves” (as defined in NI 43-101). The historical estimates contained in this press release were calculated prior to the implementation of NI 43-101 and the Company is not treating the historical estimates as current “mineral resources” or “mineral reserves”. The potential quantities and grades of exploration targets disclosed in this press release are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The Company has not independently verified and cannot guarantee the accuracy or completeness of the historical estimates and other third-party data contained in this press release and investors should use caution in placing reliance on such information.
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 copper-zinc property, both located in Quebec; and its polymetallic properties in 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:
Email: [email protected]
President and Chief Executive Officer
Email: [email protected]