Val-d’Or, Quebec, March 9, 2021 – Vision Lithium Inc. (TSXV: VLI) (OTC PINK: ABEPF) (the “Company” or “Vision Lithium”) has engaged Geo Data Solutions, a well-established geophysical contractor based in Laval, Quebec, to perform a high-resolution helicopter supported Mag-EM survey on its 100% owned Red Brook property (the “Property”) to be carried out in March 2021. The Property covers approximately 2,780 hectares located West of the Bathurst mining district of New Brunswick, Canada. In addition, Vision Lithium is planning a field exploration program on the newly staked lithium claims that are proximal to the East Zone of the Sirmac lithium project in Quebec, Canada. The program will consist of prospecting, geochemical soil sampling and handheld XRF testing.
Yves Rougerie, President and CEO of Vision Lithium stated, “I am very excited by the copper potential on the Red Brook property which is in a similar geological setting as our Dôme Lemieux copper project in the nearby Gaspé Peninsula. Both are exciting copper targets for exploration. We are very bullish on the general market for copper as a critical metal in the battery materials supply chain and especially critical in the global electric infrastructure that will support electric vehicles.”
Rougerie continued, “We are also planning field work on the new claims recently added to our Sirmac lithium project in Quebec. This area needs planning and exploration data and our work here will assist in providing targets for future drilling. Finally, we are continuing to advance closing matters to complete the acquisition of the Godslith lithium project in Manitoba pursuant to the previously announced binding letter of intent. Vision Lithium offers investors exposure to both copper and lithium, two critical battery materials. We have an enviable and prospective portfolio of battery material projects in our stable and I believe the Company has never been better positioned when it comes to the quality of the projects and the exploration potential they offer.”
The proposed 871-line-kilometre high-resolution helicopter supported Mag-EM (magnetic and electro-magnetic) survey will be flown at 50-metre line spacings, covering an area of approximately 40 km2. The survey, flown at low altitude, will collect high resolution data that will be used to identify geological features that may be related to mineralization. Mineralization identified on the Property to date is often associated with pyrrhotite which is readily identified by these methods. A previous operator completed a series of wide-spaced ground IP lines which identified several large, buried chargeability anomalies. Vision Lithium expects the airborne Mag-EM survey may better map these anomalies in 3 dimensions and potentially identify new ones which could be drill-tested later in 2021. The Company is hopeful that the survey may identify buried mineralized zones which could be related to the source of the porphyry and skarn-type mineralization that has been identified to date on the Property.
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 Property. It is interpreted as skarn and porphyry type and related to the Red Brook granitoid intrusive complex which underlies the claim area.
Previous work on the “A” Zone, a stripped gossan area on the Property, has returned significant results as listed below:
|
Zinc Zone |
||
|
Zn % |
Cu % |
Au g/t |
|
15.05 |
0.21 |
0.04 |
|
12.10 |
0.19 |
0.04 |
|
8.79 |
0.25 |
0.03 |
|
8.20 |
0.20 |
<0.01 |
|
8.13 |
0.18 |
<0.01 |
|
7.70 |
0.17 |
0,02 |
|
7.02 |
0.17 |
<0.01 |
|
6.98 |
0.18 |
0.01 |
|
Gold-Copper Zone |
||
|
Cu % |
Au g/t |
Zn % |
|
0.55 |
0.79 |
0.02 |
|
0.47 |
0.28 |
0.02 |
|
0.45 |
0.95 |
0.02 |
|
0.45 |
0.27 |
0.06 |
|
0.44 |
2.62 |
0.01 |
|
0.43 |
0.21 |
0.01 |
|
0.43 |
0.53 |
0.02 |
|
0.36 |
1.61 |
0.01 |
|
0.34 |
0.33 |
0.01 |
|
0.33 |
0.22 |
0.07 |
|
0.32 |
0.19 |
0.03 |
|
0.31 |
0.24 |
0.01 |
|
0.29 |
0.44 |
0.01 |
|
0.26 |
0.32 |
0.01 |
|
0.22 |
0.13 |
0.02 |
|
0.18 |
0.91 |
0.00 |
The Company anticipates the Mag-EM survey will take approximately two weeks to complete in the field and the results should be available within a month. Planning for a drill program to test high-priority targets identified by the survey will follow.
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, gold and base metals in safe jurisdictions, primarily in Canada. The Company is led by skilled and qualified mineral exploration experts and business professionals. Vision Lithium is committed to discovering new world class assets and bringing these assets to production, starting with the Sirmac lithium property located in Northern Quebec, the Dôme Lemieux copper-zinc property in Quebec’s Gaspé region, the polymetallic properties in New Brunswick and the anticipated acquisition of the Godslith lithium property in Manitoba.
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 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 Company’s plans for further drilling and exploration, the Company’s ability to obtain all required approvals to complete the acquisition of the Godslith lithium project (the “Transaction”), the long-term prospects of the battery materials markets, and the business and operations of the Company upon completion of the proposed Transaction. 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 the Company’s properties; 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.
For additional information, please contact:
|
Victor Cantore |
Yves Rougerie |