AFX:CC - Arctic Fox Discovers Promising Lithium and Rare Earth Anomalies at Pontax North
(TheNewswire)
VANCOUVER, BRITISH COLUMBIA (April 9, 2024) - TheNewswire – Arctic FoxLithium Corp. (CSE: AFX / FSE: O5K) (the “Company” ) ispleased to announce the results from its Phase I exploration campaignat the Pontax North property located in the James Bay region ofQuebec.
Highlights of the 2023 prospectioncampaign:
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The observation of large areas of white S-typepegmatites containing biotite-muscovite-garnets-tourmaline, attributedto the prolific Causabiscau Suite hosting the James Bay Lithium deposit.
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The northeast part of the Pontax North property hasemerged as a focal point of interest, boasting rare metals anomalieslocally up to 100 times the average of the upper continentalcrust.
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The identification of a lithium anomaly 5.3 times theaverage (Li) in upper continental crust and associated with Niobiumand Cesium.
The identification of pegmatites belonging to theCausabiscau Suite in the northern part of the Pontax North Propertypresents a significant opportunity for targeted exploration due to itsstrong association with critical and strategic metals. LCT(Lithium-Cesium-Tantalum) pegmatites are typically hosted by maficmetavolcanics or metasedimentary rocks, and are located nearperaluminous (S-type) granitic plutons. The identification of mineralssuch as muscovite, garnets and tourmaline confirms the peraluminousnature of the granitic units present on the Pontax North Property andfurther accentuates the exploration potential of the area. Inaddition, the clear coincident anomalies in beryllium, cesium, niobiumand tantalum observed in sample #100865 correspond to a typicalsignature of LCT pegmatites.
A lithium anomaly of 106 ppm Li was discovered insample #100754 in the NW part of the property within a dark coarsegrained rock containing more than 50% biotite, that could correspondto a restite enclave.
Harry Chew, Chief Executive Officer of Arctic Foxstates, “This is an important milestone for Arctic Fox as we unveilthe results of our Phase I exploration at Pontax North. The discoveryof rare earth metals anomalies, notably lithium, alongside theconfirmation of the Causabiscau Suite, signals a promising start forArctic Fox. These findings underscore the geological potential of thePontax North property and reaffirm our dedication to methodicalexploration. Moving forward, we remain committed to responsiblepractices and continued research, as we strive to uncover the fullpotential of this area.”
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Sample # 100754 Sample #100865
While the northern half of the Pontax North property ispredominantly composed of large masses of white granitic pegmatiteinterpreted as a product of partial melting of paragneiss, theidentification of diatexites in the hostrock suggests locally highdegrees of partial melting further enhancing the prospects for rareearth metals. Notable characteristics of fertile S-type pegmatiteshave also been observed by field crews in 2023, including coarse toblocky crystals of microcline, plagioclase, and quartz with frequentgraphic intergrowths, as well as the occasional presence of muscovite,garnets and tourmaline. The presence ofcoincident Be-Cs-Ta-Nb-Rb anomalies are a definitive indicator of therare-element potential of the system.
The company has also completed a detailed compilationof the Lidar completed last fall and the high-resolution magnetic datafrom Quebec’s Ministry of Energy and Natural Resources (MERN) whichrevealed compelling geophysical features on the Pontax North property,suggesting the presence of unmapped diabase dikes and potential ENEpegmatite swarms pointing to the Causabiscau Suite below overburden.This coupled with the recent results underscores the importance tofurther explore the Pontax North Property. The 2024 explorationprogram of Arctic Fox properties is currently in the planning stages.
Work was also carried out on the Kana Lake and DeltaLake properties.
Delta Lake:
The lithologies observed on the Delta Lake property aremainly dark, massive and aphanitic to fine grained, locallyplagioclase-porphyritic amphibolites. Weak to strong chloritizationand epidotization are locally observed. Some finely bedded sediments(greywacke/siltstone) were observed in the central part of theproperty, while tonalite was observed in the southwestern part withlimited pegmatite and aplite injections. Massive medium-graineddiorite with weak chloritization was observed in the southeastern partof the property.
The only pegmatite observed throughout the 2023campaign on the Delta Lake property was situated in outcrop #BM-23-023hosted in a medium-grained tonalite. A 15 cm wide beige-pinkishpegmatitic dyke oriented N140/-80 was sampled, however this dyke doesnot correspond to the S-type ones we are searching for in rare metalsexploration.
Two outcrops of particular interest for gold and basemetals were observed: 1) A quartz-carbonate stockwork filling wasobserved in a hydrothermal breccia zone within amphibolites at outcrop#BM-23-147. The chloritization and silicification of the host rockproves that strong fluid circulation occurred. Sample #100828 takenfrom a 0.3m wide ESE-oriented vein was sampled; 2) Py-Po-Cpmineralization was observed within sediments at outcrop #BM-23-153.The style of mineralization indicates base metals sulphideremobilizations from a parent source. Sample #100829 was collectedfrom that outcrop.
Unfortunately no rare earth anomaly was observed on the2 samples assayed for rare metals and no gold anomaly was observed onthe six (6) samples assayed for precious metals. However a combinedanomaly of 1.26 ppm Ag and 1,605 ppm Cu was observed on sample #100829where pyrite, chalcopyrite and malachite were observed.
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Sample #100829 Sample #100829 outcrop
Kana Lake:
The lithologies observed on the Kana Lake property weremainly medium-grained white to pinkish felsic intrusive rocksidentified as tonalites / granodiorites and anatectic granites, withlocal pegmatitic pockets. Pink intrusives are related to thegranodiorites and granites of the Janin Suite. These rocks usuallycontain more than 30% alkali feldspar, 20-40% grey quartz and 1%-15%biotite, with local pegmatitic pockets. White intrusives units of theGladman Suite however locally expose muscovite, red garnets andtourmaline which attests of a peraluminous (S-type) composition. Thesepegmatites are therefore considered as highly prospective for lithiumand rare metals mineralization. Light to strong hematization is alsolocally observed giving the rock a pinkish to reddish colour.
Isolated anomalies were locally observed in the 2023samples but no coincident anomaly suggesting the presence of a LCTpegmatite signature. A 76 ppm Li anomaly was observed in a coarsegrained tonalite pocket containing up to 2% of small red garnets(sample #108023) in the northern part of the property. That area ofthe property is also characterized by a rubidium background noisehigher that the rest of the property (300 ppm to 400 ppm Rb). SlightBe and Cs anomalies are observed on two (2) samples of whitepegmatites (#100739 and #100740) collected a few meters from eachother, in the southeastern part of the property.
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Click Image To View Full Size Sample #108023close up Sample108023
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Sample #100739 Sample #100740
Overall, the Kana Lake property hosts a favorablegeological environment for continued exploration, as fertilepegmatites often present white and blocky K-Feldspar with frequentgraphic intergrowths with quartz, both of which were observed on theKana Lake property. In addition, the weak lithium anomaly observed insample (#108023) is an indicator of the fertility potential of theparagneiss-pegmatite system for lithium mineralization in thatarea.
The Company also wishes to announce the appointment ofMr. Benjamin Mougin, P. Géo. M.Sc, as its Qualified Person (QP) as defined in NationalInstrument 43-101 Standardsof Disclosure for Mineral Projects . Mr. Mouginis a member in good standing of the Ordre des Géologues du Québec(OGQ) and is an independent consultant providing his expertise ingeoscientific data compilation, property evaluations, explorationrecommendations, field work, QAQC surveying and report writing. Hehas a Master Degree (DESS) in “ Mineral Resources &Geodynamic ” from Orleans University (France)as well as a Master Degree (DESS) in “ Exploration and Management of NonRenewable Resources ” from Université duQuébec à Montréal (UQAM).
Mr. Gerald G. Carlson has tendered his resignation asdirector, VP of Exploration and QP to the Company effectiveimmediately. The Company wishes to thank Mr. Carlson for all hisefforts and expertise in assisting the Company in the past and wisheshim the best of luck in his retirement. At this time the Board ofDirectors are interviewing suitable candidates to fill the vacancyleft by Mr. Carlson.
In addition, the Company has granted 1,000,000incentive stock options to directors, officers, employees andconsultants of the Company. Each option is exercisable for one commonshare in the capital of the Company at an exercise price of $0.03. The options will expire five years from the date of issuance andvest immediately.
About Arctic Fox Lithium Corp.
Established in Vancouver, British Columbia, ArcticFox is a Canadian junior mining exploration company founded by an experienced management team to assess and growits portfolio into a leading company in lithium and rare earth elements. Through targeted exploration andintentional research, Arctic Fox is bringing a trustworthy lens to thedevelopment of sought-after resources frommultiple projects in Canada, focussing on properties in themining-friendly province of Québec.
The technical information containedwithin this News Release has been reviewed and approved by BenjaminMougin, P. Géo, M. Sc. and Qualified Person as defined in NationalInstrument 43-101 Standards of Disclosure for Mineral 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 the failure to complete the fieldwork on the timingand terms as contemplated or at all; uncertainty with respect to theresults of future exploration and the ability to conduct anyexploration activities on the properties described in this pressrelease; market prices; disruptions relating to the COVID-19 pandemic;and continued availability of capital and financing and generaleconomic, market or business conditions. These statements are based ona number of assumptions including, among other things, assumptionsregarding general business and economic conditions; in order toconduct anticipated exploration activities; and that the explorationcompilation work described in this press release will be completed asanticipated. Investors are cautioned that any such statements are notguarantees of future performance and actual results or developmentsmay differ materially from those projected in the forward-lookingstatements. Arctic Fox does not assume any obligation to update orrevise its forward-looking statements, whether as a result of newinformation, future events or otherwise, except as required byapplicable law.
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