Val-d’Or, Quebec, July 14, 2021 – Vision Lithium Inc. (TSXV: VLI) (OTCQB: ABEPF) (FSE: 1AJ2) (the “Company” or “Vision Lithium”) is pleased to announce the start of a 1,500 metre drill program on its Red Brook Cu-Zn property located in Northern New Brunswick, Canada. The drill program on Red Brook will test at least six high-priority targets on the property. (See Figure 1) These targets were generated from historical Induced Polarization (IP) and recent airborne Electro Magnetic (EM) anomalies. Drill and assay results will be released when available.
Figure 1 – Red Brook Drill Targets from MAG-EM Survey
The Company recently completed a ~900 km helicopter-borne magnetic and electromagnetic survey (MAG-EM) at 50-metre spacings over the Red Brook copper-zinc property. The survey located several areas of multiple strong EM conductors (See Figure 1) which appear to follow the outer contact of a large magnetic anomaly reflecting the Red Brook intrusive, a variably magnetic granitoid intrusion likely responsible for the mineralizing events. Most of the EM anomalies are either untested or else poorly tested by historic drilling, and in many cases not sampled. They represent multiple priority drill targets for follow-up exploration. The IP anomalies from the RTZ survey appear to be adjacent to and laterally continuous with the EM anomalies, likely indicating different percentages of sulphide mineralization in each. The IP anomalies are also poorly or not tested by drilling.
Yves Rougerie, President and CEO of Vision Lithium commented, “Of interest, most of the historical drilling, even on the Red Brook zone, was done outside the strong EM anomaly zones, indicating the most conductive and likely best targets have not been tested. In addition, the historical exploration results also suggest higher conductivity, partially caused by increased pyrrhotite mineralization, is also associated with higher Cu and/or Zn grades. I am very excited to start this drill program per our plan of drilling our copper and base metals projects this summer with the work on the Manitoba lithium project likely to begin later in the year pending permitting. From a macro perspective Copper and Zinc prices remain robust and we are in a safe mining friendly jurisdiction of New Brunswick.”
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 1960’s intersected skarn and porphyry type copper and zine occurrences near the western limit of the property dubbed the Red Brook zone. More recently, Puma Explorations 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. Most recently RTZ optioned the property and completed a ground IP survey which revealed several strong anomalies but failed to drill the targets. The property has seen limited drilling and has the potential to host significant copper porphyry-base metal skarn related mineralization.
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.
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President and Chief Executive Officer
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