Toronto, Ontario--(Newsfile Corp. - June 14, 2024) - Champion Electric Metals Inc. (CSE: LTHM) (OTCQB: CHELF) (FSE: 1QB0) ("Champion Electric" or the "Company") is pleased to provide an update on its spring field program following up from a successful winter drilling program at its Lithium Property in James Bay, Quebec.
The spring field program commenced with prospecting and till sampling to the southwest and northeast from the recently drilled pegmatites (see Figure 1). The first phase of work will include till sampling on tighter spacing, boulder prospecting, mapping, and trenching with channel sampling. The team is employing multiple techniques to explore beneath the thin glacial sediments. Once outcrop or large boulders are located, excavators are deployed to test for overburden depth and, in some cases, clear the overburden for channel sampling of pegmatites. The Company obtained the permit to conduct trenching under the Autorisation pour Travaux d'Exploration à Impact ("ATI") regulation. The search has already discovered a boulder field (including boulders up to 5m X 4m X 2m) stretching at least 600 metres up ice and up to 50m wide. A high percentage of these boulders contains large spodumene crystals (up to 30cm long) that were visually identified (see Images 1 and 2). Samples of these spodumene boulders have been sent to the lab, and the technical team has begun trenching and channel sampling in the area.
Image 1: Champion geologist with boulder containing coarse
Jonathan Buick, President and CEO, commented: "Our geologists quickly encountered spodumene-bearing boulders while prospecting to the northeast from the mineralized pegmatite discovery. The follow-up continues to define the scale of the boulder field, and the excavator is on the way to the target area. We also continue to test other favorable trends farther east on the huge property for lithium mineralization. Our plan is to conduct excavation and channel sampling in the highest priority areas as we prepare for drilling later this summer."
Champion Electric invites shareholders, potential investors, and stakeholders to follow the Company's social media pages for ongoing photo updates of the spring field program.
The Champion Electric Lithium Property is close to the Trans-Taiga Road and covers the northern extension of the Lac Guyer Greenstone Belt, which hosts neighbouring Patriot Battery Metals' Corvette and Winsome Resources' Cancet advanced projects in the prolific James Bay region of Quebec (Figure 2).
Figure 2: Champion Electric Lithium Project location map
Dr. Eric Hebert, P.Geo., Senior Geological consultant, is a member (#0842) of the Ordre des Géologues du Québec (OGQ) and a qualified person within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this press release. All aspects of the drilling program were supervised by the Qualified Person.
About Champion Electric Metals Inc.
Champion Electric is a discovery-focused exploration company that is committed to advancing its highly prospective lithium properties in Quebec, Canada and cobalt properties in Idaho, United States. In addition, the Company owns the Baner gold project in Idaho County (optioned to Prestwick Capital Corporation) and the Champagne polymetallic project in Butte County near Arco.The Company's shares trade on the CSE under the trading symbol "LTHM", on the OTCQB under the trading symbol "CHELF", and on the Frankfurt Stock Exchange under the symbol "1QB0". Champion Electric strives to be a responsible environmental steward, stakeholder, and contributing citizen to the local communities where it operates, taking its social license seriously, employing local community members and service providers at its operations whenever possible.
ON BEHALF OF THE BOARD OF CHAMPION ELECTRIC "Jonathan Buick" Jonathan Buick, President, and CEO
To learn more, please visit the Company's SEDAR profile at www.sedarplus.ca or the Company's corporate website at www.champem.com.
For further information, please contact: Investor Relations and Communications Phone: (+1) 416-567-9087 Email: [email protected]
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.
Cautionary Statements
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release. This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by management of the Company, including closing of the Transactions and the prospectivity of the Projects for lithium. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The Projects are at an early stage of exploration, and the Company cautions that the qualified persons who have reviewed and approved this news release have not verified scientific or technical information produced by third parties.
