(TheNewswire)
Vancouver, Canada– TheNewswire - February 20, 2023 – ArborMetals Corp. ( “Arbor” or the “ Company ”)(TSXV:ABR ) , ( FWB:432) views the news late onFriday, February 18 th , 2023, that Tesla has been exploring atransaction with near-term lithium producer, Sigma LithiumCorporation, as an encouraging synergy between EV lithium end-usersand development-stage lithium producers, that may expand directly intoproject participation or financial support for lithium exploration anddevelopment.
Even at a preliminary-stage, a potential transactioninvolving Tesla and Sigma has been viewed positively by the marketsand the lithium sector. It has been widely reported that Tesla and itsCEO Elon Musk have shown a continued interest in the extraction andrefinement of lithium over the past five years.
With General Motors Co. recent (January 31 st , 2023) US $650million investment in Lithium America Corp., directed at thedevelopment of the Thacker Pass lithium project in Humboldt County,Nevada, we see another similar end-user EV carmaker supporting anear-term producer.
Arbor management feels the emerging lithium districtsin northern Quebec and Ontario could be well positioned to supplyCanadian-sourced spodumene lithium products to both EV carmakers anddeveloping new battery plants. Both Canada and the USA are focused onsupporting domestic sources of lithium to meet soaring demands.
The Company’s Jarnet Lithium Project covers multiplepegmatite dikes which the Company's geological team have identified assimilar to the pegmatite dikes on the CV-5 target. The Jarnet LithiumProject, located in the James Bay region of Quebec, comprises 70map-designated claims, covering an area of approximately 3,759hectares. The Jarnet South block is less than two km northwest ofPatriot Battery Metals Inc.’s (PMET) CV-5 pegmatite zone, where anaggressive diamond drill program is in process, having made a numberof significant discoveries. PMET recently reported 156.9 metres of2.12 per cent Li2O (lithium oxide), including 25 m of 5.04 per centLi2O (see PMET news release, January 19, 2023) from the CV-5 pegmatitezone on the Corvette-FCI property.
Note: Company management cautionsthe discoveries and observations on properties in proximity to thecompany's properties are not necessarily indicative of the presence ofsimilar mineralization or geology on the company's properties.
Dr. Peter Born, P.Geo., is the designated qualifiedperson as defined by NationalInstrument 43-101 and is responsible for, andhas approved, the technical information contained in thisrelease.
Arbor Metals Corp . is a mining exploration company specializing in thedevelopment of high-value, geographic significant mineral projectsaround the world. As industry leaders, we are paving the way foradvanced mineral exploration as we oversee world-class mining projects. We believe quality projects,combined with proven strategies and a professional team will deliversuperior results. We hold three exceptional mineral projects.
Jarnet Lithium Project , located in the James Bay Region of Quebec, which comprisesof forty-seven map designated claims, covering an area ofapproximately 3,759 hectares. The Jarnet Project is contiguous tothe Corvette-FCI Property, where diamonddrilling has confirmed significant lithium mineralization.
For further information, contact Mark Ferguson, ChiefExecutive Officer, at info@arbormetals.com , or visit theCompany’s website at www.arbormetalscorp.com.
On behalf of the Board,
Arbor Metals Corp.
Mark Ferguson, Chief Executive Officer
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
This news release may containcertain “Forward-Looking Statements” within the meaning of theUnited States Private Securities Litigation Reform Act of 1995 andapplicable Canadian securities laws. When or if used in this newsrelease, the words “anticipate”, “believe”, “estimate”,“expect”, “target, “plan”, “forecast”, “may”,“schedule” and similar words or expressions identifyforward-looking statements or information. These forward-lookingstatements or information may relate to the development of the JarnetLithium Project, the assessment of samples from that Project, andother factors or information. Such statements represent theCompany’s current views with respect to future events and arenecessarily based upon a number of assumptions and estimates that,while considered reasonable by the Company, are inherently subject tosignificant business, economic, competitive, political and socialrisks, contingencies and uncertainties. Many factors, both known andunknown, could cause results, performance, or achievements to bematerially different from the results, performance or achievementsthat are or may be expressed or implied by such forward-lookingstatements. The Company does not intend, and does not assume anyobligation, to update these forward-looking statements or informationto reflect changes in assumptions or changes in circumstances or anyother events affecting such statements and information other than asrequired by applicable laws, rules and regulations.
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