(TheNewswire)
Vancouver, Canada– TheNewswire - February 13 th , 2023– Arbor Metals Corp. ( “Arbor” or the“ Company ”) (TSXV:ABR ) , ( FWB:432) welcomes therecent announcement by Germany’s Handelsblatt (“Handelsblatt”)business daily that automobile manufacturer Volkswagen is consideringsetting up a battery cell factory in Ontario.
This follows Volkswagen’s battery subsidiaryPowerCo’s decision last year to sign a deal with Umicore as asupplier, with Umicore building a cathode factory outside of Kingstonto supply Volkswagen’s future battery cell plant. Both these eventsrepresent the need for carmakers to meet the emerging EV demand withlocal sources of lithium from Ontario and Quebec spodumene depositspoised to supply Canadian-sourced lithium products to these newbattery plants. The Company’s Jarnet lithium properties locatedcontiguous to Patriot Battery Metals Inc. (PMET) Corvette-FCI propertyis well positioned to participate in the hunt for new lithiumdeposits.
“The U.S.A.‘s northern neighbor (“Canada”) isone of the few countries in the western world that has importantbattery raw materials such as lithium, nickel or cobalt. In addition,the country is pursuing a consistent sustainability strategy andintends to switch completely to renewable energy in the coming years.Canada is already the third largest producer of hydroelectric powerafter Brazil and China,” the Handelsblatt report said.
PMET recently announced a significant discovery of156.9 meters of 2.12 per cent Li2O (lithium oxide), including 25 m of5.04 per cent Li2O (see PMET news release, Jan. 19, 2023) from theCV-5 pegmatite zone on the Corvette-FCI property. The Company’sJarnet properties cover multiple pegmatite dikes which the Company'sgeological team have identified as similar to the pegmatite dikes onthe CV-5 target. The Jarnet property now comprises four claim blocks(South, North and NE) totaling 70 map-designated claims, covering anarea of approximately 3,759 hectares. The Jarnet South block is lessthan two km northwest of PMET's CV-5 pegmatite zone, where anaggressive diamond drill program is in process.
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 the Company’s website atwww.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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