(TheNewswire)
Vancouver, BC - TheNewswire - December 11, 2023 - Cullinan Metals Corp. (CSE:CMT) (OTC:CMTNF)(FWB:7KO) (" Cullinan " or the “ Company ”) is pleased to announce that it hassuccessfully completed a ground exploration program at itsLac-des-Îles West Graphite Property (the “ Property ”) inQuebec, Canada. Focus of the program was a follow up ground checkingof the two of the most promising airborne geophysical targets, T1 andT2, identified immediately to the north of the Lac des Îles graphitemine (“ LDI ”), which is currently owned by Northern Graphite Corp.(TSX-V: NGC) (see Figure 1 below).
Highlights
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The program successfully identified graphitemineralization with geological similarities to LDI, showcasinggraphite content typically ranging from 1-15% Cg, with occasional thinveins of massive graphite.
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Trenching and overburden stripping work was alsoconducted on both conductors T1 and T2 which uncovered graphitemineralization, a part of which was extended to the edge of theProperty on the adjacent LDI mine.
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During the present field investigations, a total of 60 rock samples were collected from the Property andhave been sent to an independent accredited laboratory, “ACTLABS”in Ancaster Ontario, for assaying.
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Access negotiations with surface landowners weresuccessfully completed providing the necessary access for explorationwork on the identified targets.
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The program laid the groundwork for planning drillholes in the next phase of exploration, aimed at verifying thecontinuity of large flake surface graphite mineralization at depth andalong strike. Target areas T1 and T2 boast dimensions of 500 m in theeast-west direction and over 1,000 m long in the north-southdirection.
Mr. Marc Morin, CEO of Cullinan Metals Corp., expressedhis enthusiasm for the recent developments, stating, "Thepositive outcomes from our Lac-des-Îles West exploration program marka significant milestone for Cullinan Metals. Identifying graphitemineralization with similarities to the existing LDI mine underscoresthe potential of our property and positions us strategically in thegrowing graphite market. We are particularly encouraged by thesuccessful negotiations with landowners, allowing us to proceed withour exploration plans. The forthcoming assay results from the rocksamples and the planned drill holes in the next phase will be crucialin advancing our understanding of the Property's graphite potential.This is an exciting time for Cullinan, and we look forward to buildingon these achievements as we continue to unlock the value of ourassets."
Figure 1: Airborne geophysical survey map showing graphite explorationtargets including T1 and T2.
Photo of individual flake size (2023 fieldwork photo)
Photo: Graphite mineralization on T1 (2023 fieldwork photo)
Aboutthe Lac-des-Îles West Graphite Property
The property is in Bouthillier township in Saint-Aimé-du-Lac-des-Îles areaadjacent to the western and northern limit of the LDI Graphite Mineapproximately 17 kilometers southwest of the town of Mont-Laurier onNTS map sheet 31J05. The property is locally accessible through aseries of forestry service roads and the main Village Road 0 (Chemindu Village 0) that cuts through the property, connecting the propertyto Highway #309 which is about two kilometers east of the property.Geologically, the Lac-des-Îles WestGraphite property is within a geological setting very similar to theLDI Graphite Mine. The LDI Graphite Mine is associated withparagneisses, biotite gneisses and marbles. The area is mainlyunderlain by Precambrian metasedimentary rocks of the Grenville Seriescomprised of quartzofeldspathic, garnetiferous paragneiss, and marblebeds.
Qualified Person
Afzaal Pirzada, P.Geo., a “Qualified Person” for the purposes ofNational Instrument 43-101 - Standards of Disclosure for Mineral Projects , has reviewedand approved the scientific and technical information contained inthis news release.
Cautionary Statement
Investors are cautioned that the information regardingLDI graphite mine has been taken from Northern Graphite Corp. websitehttps://www.northerngraphite.com/project/lac-des-iles-mine/ and otheronline sources at: https://www.mern.gouv.qc.ca Energie et ResourcesNaturelles Quebec. The Company is unable to verify the information andthe information is not necessarily indicative of the mineralization onthe Property which is subject of this news release.
On Behalf of the Board,
CULLINAN METALS CORP.
Marc Enright-Morin
CEO, Director
(604) 669-9788
info@cullinanmetals.com
About Cullinan Metals Corp.
Cullinan Metals Corp. is focused on the exploration ofclean energy metals. As the clean energy transition rages on, thedemand for commodities such as copper, graphite and lithium arecritical for the future of civilization. Cullinan Metals currently hasmajor lithium and graphite projects in Canada.
Forward-LookingStatements
This news release containsforward-looking statements and forward-looking information within themeaning of Canadian securities laws (collectively, “forward-lookingstatements”). Forward-looking statements in this news release relateto, among other things: statements with respect to explorationresults, anticipated exploration program results from explorationactivities, the anticipated business plans and timing of futureactivities of the Company and all other statements that are nothistorical facts, particularly statements that express, or involvediscussions as to, expectations, beliefs, plans, objectives,assumptions or future events or performance of the Company. Often, butnot always, forward looking statements can be identified through theuse of words or phrases such as “will likely result”, “are expected to”,“expects”, “will continue”, “is anticipated”,“anticipates”, “believes”, “estimated”, “intends”,“plans”, “forecast”, “projection”, “strategy”,“objective” and “outlook”. Forward-looking statementscontained in this news release are made based on reasonable estimatesand assumptions made by management of the Company at the relevant timein light of its experience and perception of historical trends,current conditions and expected future developments, as well as otherfactors that are believed to be appropriate and reasonable in thecircumstances. Forward-looking statements contained in this newsrelease are made as of the date of this news release and the Companywill not update any such forward-looking statements as a result of newinformation or if management’s beliefs, estimates, assumptions oropinions change, except as required by law. There can be no assurancethat forward-looking statements will prove to be accurate, as actualresults and future events could differ materially from thoseanticipated in such statements. Accordingly, the reader is cautionednot to place undue reliance on forward-looking statements.
Forward-looking statements involveknown and unknown risks, uncertainties and other factors, many ofwhich are beyond the Company’s control, which could cause actualresults, performance, achievements and events to differ materiallyfrom those that are disclosed in or implied by such forward-lookingstatements. Such risks and uncertainties include, among others,operating and technical difficulties in connection with mineralexploration and development activities, actual results of explorationactivities, the estimation or realization of mineral reserves andmineral resources, the fact that the Company’s interest in theProperty is an option only and there is no guarantee that suchinterest, if earned, will be certain, capital expenditures,requirements for additional capital, future prices of graphite,changes in general economic conditions, changes in the financialmarkets and in the demand and market price for commodities, delays inobtaining governmental approvals, permits or financing, titledisputes, the inability of the Company to obtain any necessarypermits, consents, approvals or authorizations, the timing andpossible outcome of any pending litigation, environmental issues andliabilities, and all other risks and uncertainties disclosed in theCompany’s prospectus dated January 31, 2022 and other publicly fileddocuments under the Company’s profile on SEDAR at www.sedarplus.ca.The Company cautions that the list of risk factors and uncertaintiesdescribed in its publicly filed documents on SEDAR is not exhaustiveand other factors could materially affect its results. New factorsemerge from time to time, and it is not possible for the Company toconsider all of them, or assess the impact of each such factor or theextent to which any factor, or combination of factors, may causeresults to differ materially from those contained in anyforward-looking statement. Any forward-looking statements contained inthis news release are expressly qualified in their entirety by thiscautionary statement.
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