MDM:CC - Madoro Discovers Lithium-Bearing Pegmatites on First Green Property Quebec
(TheNewswire)
VANCOUVER, British Columbia – TheNewswire – September 26, 2023 - Madoro Metals Corp. (“Madoro” or the “Company”) ispleased to announce that a “first-pass” prospecting and samplingprogram on its 213-claim, 12,325-ha First Green Lithium property (the“Property”) has resulted in the discovery of a potential swarm oflithium-bearing pegmatite dykes. The Property is located approximately75km southwest of Val-d’Or in the Abitibi-Témiscamingueregion of Québec , within a rapidly emerginglithium belt where large mineral claim holdings have been assembled byBrunswick Exploration Inc., Narrow River Resources Pty. Ltd., SayonaQuébec Inc., Renforth Resources Inc., Vison Lithium Inc. and WinsomeResources Inc. (see Figure 1).
Figure 1: First Green Lithium Property, Val d’OrArea, Quebec
A network of forest-harvesting operation roads providegood access to the Property and have helped expose many new outcrops.The inaugural 10-day exploration program was implemented to obtain afundamental understanding of the geological environment underlying theProperty.
A dyke swarm was discovered on the last day of fieldwork in an area of dense moss and tree cover, so only five (5) grabsamples were collected over a 1,500m by 250m area in the central partof the Property (see Figure 2). Further surface work is required tobetter expose bedrock in this area.
Figure 2: Sample Location Map
Geochemical analyses of the five grab samples showelevated levels of lithium, as well as rubidium, cesium, beryllium andtantalum - all good pathfinder elements. Three of the samples haveK/Rb (potassium/rubidium) ratios less than 160 and two of these haveratios less than 60, indicating that the dykesare highly fractionated and therefore favourable for lithiummineralisation. It is rare for fractionatedpegmatite dykes to have K/Rb ratios below 160, so these initialsamples from the dyke swarm are very significant.
“We are very pleased with theresults of the first-pass prospecting program considering its limitedscope,” stated Dušan Berka, Madoro’sPresident & CEO. “Thisis the first time that the Property has been explored and sampled forlithium and we are now determining next steps to follow up on thesehighly encouraging results.”
The Property’s proximity to the mining centres ofMalartic and Val-d’Or allows for low-cost exploration work. Québec is a strong supporter of exploration, production, andprocessing of critical strategic minerals (CSM), including lithium,and developing value-added industries such as battery and electricvehicle manufacturing. In 2021, a special program to support CSMexploration was set up. This is in addition to existing refundable taxcredits up to 38.8% for junior mineral exploration companies, and69.4% flow-through tax savings for investors in Quebec and 38.4% forinvestors from the rest of Canada.
About Madoro
Madoro (MDM | TSX Venture Exchange; MSTXF | OTC) is anemerging resource company engaged in the evaluation, acquisition, andexploration of mineral properties in Mexico and Canada. The Company isengaged in the exploration of three gold-silver projects in the stateof Oaxaca, Mexico. The Yautepec, Magdalena and Rama de Oro projectseach consist of large epithermal systems that are highly prospectivefor precious metals in a structural and geologic setting like those ofnearby producing mines. Madoro also owns a 50% interest in the Ralleaumineral property in the Urban Barry District, Lebel-sur-Quévillonarea of Québec and has an option to earn a 100% interest in the FirstGreen Lithium Project southwest of Val-d’Or, Quebec.
For further information, investors and shareholders areinvited to visit the Company’s website at www.madorometals.com, callthe office at 1-604-681-1568, toll free at 1-877-377-6222, or send anemail to info@madorometals.com
QA/QC and Qualified Person
The scientific and technical information that forms thebasis for parts of this press release were reviewed and approved byJohn Langton, P.Geo., who is a Qualified Person(QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS,
“DUŠAN BERKA”
Dušan Berka, P. Eng., President & CEO
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
This news release contains certain"forward-looking statements" within the meaning of Canadiansecurities legislation, including statements relating to a breach ofthe option agreements and the Company’s legal action to enforce itsentitlement to the Rama de Oro and Magdalena projects. Although theCompany believes that such statements are reasonable based on currentcircumstances, it can give no assurance that such expectations willprove to be correct. Forward-looking statements are statements thatare not historical facts, and by their nature, refer to future events.The Company cautions that forward-looking statements are based on thebeliefs, estimates and opinions of the Company's management on thedate the statements are made, and they involve a number of risks anduncertainties, including the possibility the Company may not besuccessful in its legal action to enforce the performance of theoption agreements.
There can be no assurance that suchstatements will prove to be accurate, as actual results and futureevents could differ materially from those anticipated in suchstatements. Accordingly, readers should not place undue reliance onforward-looking statements. The Company disclaims any intention orobligation to update or revise any forward-looking statements, whetheras a result of new information, future events or otherwise, except asrequired by law or the policies of the TSX Venture Exchange. Readersare encouraged to review the Company’s complete public disclosurerecord on SEDAR at www.sedar.com.
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