Val-d’Or, Quebec, May 05, 2021 – Vision Lithium Inc. (TSXV: VLI) (OTCQB: ABEPF) (FSE: 1AJ2) (the “Company” or “Vision Lithium”) is pleased to announce the results of the MAG-EM survey over its Red Brook property in New Brunswick, Canada. The survey has identified two high priority EM target areas.
The ~900 km helicopter-borne magnetic and electromagnetic survey (MAG-EM) was flown at 50-metre spacings over the property. The survey, flown at low altitude, collected high resolution data. EM anomalies identified by the survey are located along the outline of the Red Brook granite intrusive, the likely source for mineralization on the property. Two large EM target-areas have been identified, one with anomalies over a distance of 1km long and the other over 500m.
The conductive zones identified by the survey are likely related to the porphyry and skarn-type mineralization that has been identified to date on the Property. A previous operator completed a series of wide-spaced ground IP lines which identified several large, buried chargeability anomalies. Historical outcrop sampling has 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*. Magnetics data from the airborne program together with target areas and the Red Brook granite intrusive outline can be viewed in Figure 1.
Figure 1: Red Brook MAG-EM
Yves Rougerie, President and CEO, stated, “The Vision Lithium team is very excited about these findings from the MAG-EM survey over Red Brook which, combined with the historical data, provide some excellent targets. These targets have a strong EM signature and are very sizeable stretching over a kilometre. We are currently in the final stages of planning drill targets and will announce details of the drill program later this month, or early June.”
Vision Lithium’s 100% owned properties in New Brunswick include two contiguous exploration properties – Red Brook and Benjamin– and cover 4,760 hectares (47.6 km2) over s strike length of 20 km+ located approximately 60 km West of the mining centre of Bathurst in Northern New Brunswick. The Property is in the Popelogan sector West of the Bathurst VMS District. “The Popelogan sector is host to Ordovician volcanic rocks and sediments of the Silurian intruded by a series of felsic to intermediate intrusives of Devonian age, similar to the geological context of the former Gaspé Mine in Quebec. This region is not part of the Bathurst volcanic belt, it is more of a Gaspé Copper type environment” (Geominex Inc., JAN 2017, report of work 478129). This is also the context of the Company’s other properties in the area, namely the large Dôme Lemieux Copper-Zinc porphyry-skarn project approximately 50 km North of the Property and the Benjamin porphyry Copper project 20 km to the East. Polymetallic Copper-Zinc-Silver-Lead-Gold mineralization has been exposed at surface at several locations on the Red Brook Property. It is interpreted as skarn and porphyry type and related to the Red Brook granitoid intrusive complex which underlies the claim area.
* While the Company considers these historical results to be relevant, as they may indicate the presence of mineralization, a qualified person has not done sufficient work for Vision Lithium to verify the accuracy of these results and therefore should not be relied upon.
The scientific and technical information in this release has been reviewed and approved by Yves Rougerie, Geologist, President and CEO of the Company. 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 lithium, copper, gold and base metals in safe jurisdictions, primarily 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 its flagship projects the Godslith lithium property located in Manitoba and the Sirmac lithium property and Dôme Lemieux copper-zinc property, both located in Quebec, as well as 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].
For additional information regarding the Transaction, 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] |
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 news 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 historical estimates, the estimates of cut-off grade and other factors underlying the historical estimates, the potential to extend the historical estimates to other portions of the Property, the Company’s plans for further drilling and exploration, the Company’s ability to obtain all required approvals, the long-term prospects of the lithium market, and the business and operations of the Company in the future. 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: the historical estimates may never become mineral reserves and do not have demonstrated economic viability; the assumptions made to calculate the historical estimates may turn out to the inaccurate; additional drilling and exploration may lead to a determination that there is no potentially viable mine plan for the Property; general business, economic, competitive, political and social uncertainties; delay or failure to receive board, stakeholder or regulatory approvals; and the ability of the Company to execute and achieve its business objectives. 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.