AFX:CC - Arctic Fox Completes Successful Phase 1 Exploration Program
(TheNewswire)
Vancouver, British Columbia - TheNewswire - November 9, 202 3 - Arctic Fox Lithium Corp. (CSE:AFX ) ( FSE:O5K) (the “Company” ) is pleased to announce thatStrategy Exploration Advisors ( “StratExplo” ), an independent explorationconsulting firm based out of Rouyn-Noranda, Québec, has concluded its22 day fieldwork program on the Company’s lithium projects in theJames Bay Region of Québec. Part of the exploration program washelicopter assisted in order to cover the Kana Lake property while thePontax North and Delta Lake properties were covered with theassistance of all terrain vehicles.
Highlights:
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Over 200 outcrop samples werecollected over the Company’s lithium projects in James Bay,QC
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348 mapping stations were completedto improve the underlying geological map
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The field crews identified numerouspegmatites hosting muscovite, beryl, tourmaline and garnets
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Over 300 line kilometres of groundcoverage were completed by the ground crews.
The Company importantly notes that the field crewsobserved and sampled numerous pegmatite outcrops at both its PontaxNorth and Kana Lake properties. Samples collected during the programhave already been sent to ALS Minerals laboratory of Val d’Or,Québec, for assaying.
Mr. Harry Chew President and CEO to the Company,commented: “The crews from StratExplo did an amazing job in a shortspan of time to complete our Phase I inaugural exploration programbefore the winter months. I am excited to review the analyticalresults from the samples taken on our properties in the near future.And once received we will be able to plan for our second phase ofexploration on these exciting properties.
Mr. Gary Claytens, Strategic Advisor to the Company,commented: “I was pleased to witness first-hand the Company’smaiden exploration program on all of its holdings in the James Bayregion of Québec. The StratExplo crews showed incredibleprofessionalism, proficiency and completed the program withexceptional detail. I was glad I was able to see the terrain,pegmatite outcrops and mineralogy during my visit and look forward toassisting with future exploration programs.”
About Arctic Fox Lithium Corp.
Arctic Fox Lithium Corp. is a junior mineralexploration company focused on the acquisition and development ofmineral properties containing battery, base and precious metals. TheCompany’s main focus is in the James Bay area, Quebec,Canada.
The Company’s 5,976 hectare Kana Lake Lithium projectis located north of the Fliszar Lithium showing in the James Bayregion of Québec. During a summer/fall 2022 survey program conductedby the Qu é bec Ministèrede l’Énergie et des Ressources Naturelles ( “MERN” ) theirgeologists identified this area as a new lithium prospective zone thatis characterized by the presence of numerous E-W trending graniticpegmatite dykes. The presence of garnet, tourmaline and muscovite inthese rocks indicates a hyperaluminous composition (S-type), suitablefor the development of lithium mineralization.
Several occurrences of tourmaline and beryl wereobserved within the SW block of Kana Lake property during the 2023fall prospection campaign, as well as red garnets on an angularboulder of white felspar-quartz pegmatite. Samples were collected atall of these places.
The Company’s 2,756-hectare Pontax North LithiumProject (“ PontaxNorth ”) is located 12 km south of AllkemLtd. (ASX/TSX:ALLKEM) (“ Allkem ”) James Bay Lithium Project and 12 km north of Stria Lithium Inc.’s (CSE:SRA) Pontax Lithium Project,located in northern Québec, approximately 130 km east of James Bayand the Cree Nation’s Eastmain community.
The northern portion of Pontax North contains a lithiumprospective zone in a similar geological environment to Allkem’sproject. According to the Quebec Ministère de l’Énergie et desRessources Naturelles (MERN) this zone is characterized by theabundance of S-type pegmatitic granite intrusions of the fertileCausabiscau Suite, a lithology known for its Be, Li, Nb, and Tapotential. Beryl (a beryllium silicate mineral) is reported in severaloutcrops within this zone. The Property is known to contain a 10 kmlong pegmatite trend as mapped by MERN. Thistrend appears to be underexplored, despite its recognized lithiumpotential. Swarms of lithium-bearing granitic dykes are present 12 kmnorth of the Property at Allkem’s Cyr showing and at StriaLithium’s Pontax showing 12 km to the south.
Observations made by StratExplo field crews during the2023 fall prospection campaign are in accordance with theseobservations, as white pegmatites hosting muscovite, garnets,tourmaline and beryl were recognized and sampled on numerous outcropswithin the whole property.
Allkem is proposing to develop a lithium mine at theirJames Bay Lithium Project, located adjacent to the Billy DiamondHighway which provides access to key infrastructure in the region. The2021 Feasibility Study and Maiden Ore Reserve (“ FS ”) details a 321ktpa spodumene operation utilizing conventional open pit mining.Allkem’s spodumene expertise from the success of its Mt. Cattlinoperations in Western Australia has been applied to the design anddevelopment of the James Bay Project. The FS suggests that James BayProject will be the most competitive operation in the region with thelowest capital and operating costs. Shallow, high-grade mineralizationwith favourable infrastructure also supports the low-cost operation.Allkem has published a mineral resource estimate of 40.3 Mt @1.40%Li 2 O ( FS summaryhere ) and mineralization is stillopen.
Stria launched its first full drilling program at itsPontax project in 2017, completing seven holes for a total of 911.4 m.All seven holes intersected spodumene - bearing pegmatite dykesgrading from 0.65% Li 2 O to2.49% Li 2 O over a minimum of 1.0 m ( Stria Lithium website ). The best intercept was 21.39mgrading 1.16% Li 2 O indrill hole 975-17-0142.
References to adjacentproperties:
12 km North: Allkem Ltd. James BayLithium:
The technical report entitled “NI43-101 Technical Report Feasibility Study James Bay Lithium ProjectQuebec, Canada” prepared by G Mining Services and dated January 11,2022.
12 km South: Stria Lithium Inc.(Pontax Lithium Project):
https://strialithium.com/exploration/pontax-project/
The Company’s 1,056 hectare Delta Lake Lithiumproject (“ DeltaLake ”) is located 55 km east of Allkem’s James Bay Lithium Project and 20 km north ofCritical Elements Lithium Corp. (TSXV: CRE) (“ CEL ”) Rose LithiumProject.
The geological environment of the Delta property ishighly favorable to the presence of lithium-bearing pegmatites, as 1)the Mistumis Batholith hosting mineralized pegmatites at Rose projectis mapped by MERN in the southwestern part of the Delta property and2) it’s in contact to the north with “green” Archeanamphibolites and sediments. The high competence of such rocks makes itsome of the best hostrocks for granitic pegmatites and many lithiumdeposits within the Superior Province are actually located withinArchean Greenstone Belts (Pontax, Whabouchi, Moblan, North-AmericanLithium…). According to the Québec Ministère de l’Énergie etdes Ressources Naturelles ( “MERN” ) this zone is characterized by theabundance of S-type pegmatitic granite intrusions, a lithology knownfor its Be, Li, Nb, and Ta potential. Beryl (a beryllium silicatemineral) is reported in several outcrops within this zone.
A pegmatite dyke hosted in a tonalite has been sampledin the southwestern part of the Delta property by the field crewsduring the 2023 fall prospection campaign.
Allkem (55 km northwest) is proposing to develop alithium mine at their James Bay Lithium Project, located adjacent tothe Billy Diamond Highway which provides access to key infrastructurein the region. The 2021 Feasibility Study and Maiden Ore Reserve(“ FS ”) details a 321,000 tonne per year operation utilizingconventional open pit mining. Allkem’s spodumene expertise from thesuccess of its Mt. Cattlin operations in Western Australia has beenapplied to the design and development of the James Bay Project. The FSsuggests that James Bay Project will be the most competitive operationin the region with low capital and operating costs. Shallow,high-grade mineralization with favourable infrastructure also supportsthe low-cost operation. Allkem has published a mineral resourceestimate of 40.3 Mt @1.40% Li 2 O ( FSsummary here ) and mineralization isstill open.
CEL’s Rose Lithium-Tantalum mine (20 km south) isanticipated to start production in approximately 21 months. The minewill excavate a total of 26.3M tonnes ore grading an average of 0.87%Li 2 O and 138 ppmTa 2 O 5 after dilution. The mill willprocess 1.61M tonnes of ore per year to produce an annual average of224,686 tonnes of technical and chemical grade spodumene concentratesand 441 tonnes of tantalite concentrate. The ore is contained inseveral parallel and continuous shallow dipping pegmatite dykesoutcropping on surface. The ore zones are open at depth and a futureunderground operation is possible. Over the life of mine, the openpit will excavate a total of 182.4M tonnes of waste rock and 10.9 Mtonnes of overburden. The average strip ratio is 7.3 tonnes of wasteper tonne of ore. ( CELwebsite ).
References to adjacentproperties:
55 km Northwest: Allkem Ltd. JamesBay Lithium:
The technical report entitled “NI43-101 Technical Report Feasibility Study James Bay Lithium ProjectQuebec, Canada” prepared by G Mining Services and dated January 11,2022.
20 km South: Critical ElementsLithium Corp. Rose Lithium-Tantalum:
The technical report entitled“Rose Lithium-Tantalum Project Feasibility Study NI 43-101 TechnicalReport” prepared by WSP Canada Inc. and dated July 26, 2022.
* This news release containsinformation about adjacent properties on which Arctic Fox has no rightto explore or mine. Readers are cautioned that mineral deposits onadjacent properties are not indicative of mineral deposits on theCompany’s properties.
The technical information containedwithin this News Release has been reviewed and approved by Gerald G.Carlson, Ph.D., P.Eng., Director of Arctic Fox and Qualified Person asdefined in National Instrument 43-101 Standards of Disclosure forMineral Projects.
For further information, please contact:
Harry Chew, President, CEO
Phone: (604) 689-2646
On behalf of the Board of Directors,
“Harry Chew”
Harry Chew
President & CEO
Arctic Fox Lithium Corp.
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Neither the Canadian SecuritiesExchange nor its Regulation Services Provider (as that term is definedin the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy or accuracy of this pressrelease.
Forward-LookingInformation: This releaseincludes certain statements that may be deemed "forward-lookingstatements". All statements in this release, other thanstatements of historical facts, that address any activities and eventsor developments that Arctic Fox Lithium Corp. (" Arctic Fox ") expects to occur, areforward-looking statements. Although Arctic Fox believes theexpectations expressed in such forward-looking statements are based onreasonable assumptions, such statements are not guarantees of futureperformance and actual results or developments may differ materiallyfrom those forward-looking statements. Forward-looking statements inthis press release include, but are not limited to, statementsrelating to: potential benefits of the fieldwork described in thispress release; and the future potential of and exploration on theproperties described in this press release. Factors that could causeactual results to differ materially from those in forward lookingstatements include: uncertainty with respect to the results of futureexploration and the ability to conduct any exploration activities onthe properties described in this press release; market prices;disruptions relating to the COVID-19 pandemic; and continuedavailability of capital and financing and general economic, market orbusiness conditions. These statements are based on a number ofassumptions including, among other things: assumptions regardinggeneral business and economic conditions; and Arctic Fox having thenecessary resources, financial and otherwise, that are required inorder to conduct future exploration activities. Investors arecautioned that any such statements are not guarantees of futureperformance and actual results or developments may differ materiallyfrom those projected in the forward-looking statements. Arctic Foxdoes not assume any obligation to update or revise its forward-lookingstatements, whether as a result of new information, future events orotherwise, except as required by applicable law.
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