Presence of Lithium-Bearing Pegmatites Confirmed on the Property

TORONTO, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Consolidated Lithium Metals Inc. (TSXV: CLM | OTCQB: JORFF | FRA: Z36) (“CLM” or the “Company“) is pleased to announce that the Company has received assay results from the spring 2024 diamond drilling program on the 100%-owned East Vallée Project. The objective of the spring drilling program was to confirm the presence and extension onto the East Vallée Project of the defined lithium-bearing pegmatites intersected by the Company during its 2023 drilling program on the adjacent Vallée Joint Venture Property. East Vallée is located in the Abitibi Greenstone Belt approximately 30 km north of Val D’Or, Quebec (see Figure 1).

Figure 1: CLM Regional Projects Map [property boundaries from Company resources and historical drill hole, geology and showing information from the Government of Quebec website https://sigeom.mines.gouv.qc.ca/signet/classes/I1108_afchCarteIntr .]

Twelve holes were completed on East Vallée totaling 2,289 m. The twelve holes tested for the potential southeast strike extension of eight known lithium-bearing pegmatites onto the property. The program also tested for the extension of the Core Pegmatite, which has been previously defined over a strike length of 4.25 km commencing from the active open pit mine at Sayona’s North American Lithium Mine Operation, across the width of the Vallée JV property, right to the western property boundary of the East Vallée Project.

The 2023 drilling program succeeded at tracing both the Core Pegmatite and the S2 Pegmatite onto the East Vallée Property. Both the pegmatites were intersected in two holes (see Figure 2). The highlight of the program was a high-grade intersection of the Core Pegmatite in hole EV-24-002 that averaged 1.184% Li₂O over 4.00 m from 101.0 m to 105.0 m, within a larger interval that averaged 0.754% Li₂O over 9.25 m from 99.25 m to 108.5 m. This larger interval included lithium mineralization contained within a well-defined biotite alteration zone enveloping the Core Pegmatite. Hole EV-24-009, drilled 800 m along strike to the southeast also encountered the Core Pegmatite that averaged 0.293% Li₂O over 0.65 m from 102.95 m to 103.60 m (see Table 1).

Figure 2: Location of the 2024 drill holes East Vallée Project and targeted projected extensions of pegmatites from the adjacent Vallée Joint Venture Project.

Table 1 – Lithium Intersections from the 2024 East Vallée Drill Program

Hole EV-24-007 intersected the S2 Pegmatite and returned assays of 0.308% Li₂O over 1.05 m from 181.85 m to 182.90 m. Hole EV-24-008 encountered two zones of mineralization that were hosted in the wall rocks adjacent to the S2 Pegmatite within a biotite alteration zone in a granitic unit. The upper interval assayed 0.310% Li₂O over 1.15 m from 176.30 m to 177.45 m and the lower flanking interval averaged 0.347% Li₂O over 0.60 m from 179.00 m to 179.60 m.

The drilling program successfully confirmed the presence of the Core Pegmatite over an additional strike length of 800 m within the East Vallée Project. An additional 5 km of the Property remains untested by drilling to the southeast of hole EV-24-009, the most southeastern known intersection of the Core Pegmatite that is anticipated to be targeted by the Company in future exploration programs.

Analytical Procedures

CLM geologists selected samples from the drill core using visual identification of lithium-bearing minerals in the drill core. Core samples were sawn into two halves, with one half being submitted for analysis and the other half retained and returned to the core tray and stored for future reference.

All samples were analysed at ALS Laboratories (“ALS”), Burnaby, an independent accredited laboratory. The samples were crushed, pulverized and analyzed at the SGS preparatory facility in Val-d’Or, Quebec. Excess crushed and pulverized material not used in the analysis have been retained for future reference. All samples were analysed by ALS’ ME-MS89L procedure that uses Sodium Peroxide Fusion and Super Trace ICP-MS finish using an aliquot of pulverised material.

CRM included half core duplicate samples and inserted blank samples into the sample sequence to ensure appropriate quality assurance and quality control of the assay results. Protocols include systematic insertion of CRM standards at approximately 1 in every 20 samples, 1 blank sample for every 20 core samples, and 1 duplicate sample for every 20 core samples. The CRM material used for monitoring lithium values were OREAS 231, OREAS 238, OREAS 750 and OREAS 7513. Assays of quality control samples were compared with reference samples and verified as acceptable prior to use of data from analysed batches.

It is believed the sampling, assaying and laboratory procedures are representative of the drilled material and appropriate for the project. There are no known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data presented herein.

Qualified Person

The scientific and technical information contained herein has been reviewed and approved by Roger Lemaitre, P.Eng., P.Geo., the Company’s former Senior Vice President & Head of Mining who is a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Consolidated Lithium Metals Inc.
Consolidated Lithium Metals Inc. (formerly known as Jourdan Resources Inc.) is a Canadian junior mining exploration company trading under the symbol “CLM” on the TSX Venture Exchange and “Z36” on the Frankfurt Stock Exchange. The Company is focused on the acquisition, exploration, production, and development of mining properties. The Company’s properties are in Quebec, Canada, primarily in the spodumene-bearing pegmatites of the La Corne Batholith, around North American Lithium’s Quebec lithium mine.

For more information:
Rene Bharti, VP Corporate Development
Email | [email protected]
Phone | 416-861-1685
Website |www.consolidatedlithium.com

Cautionary Statements

The content and grades of any mineral deposits at the Company’s properties are conceptual in nature. There has been insufficient exploration to define a mineral resource on its properties and it is uncertain if further exploration will result in any target being delineated as a mineral resource. In addition, sample results at or around, and information applicable to, the New Athona Showing, the Molybdenite Corporation mine, or Sayona’s North American Lithium mine is not indications of results that could be obtained at, or information applicable to, any of CLM’s properties.

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s future exploration plans and anticipated results and the Company’s ability to execute its business plan. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of CLM to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages and other risks of the mining industry. Although CLM has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information 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 information. CLM does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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