(TheNewswire)
November 22 th , 2023 – TheNewswire - Vancouver, British Columbia – Lake WinnResources Corp. (“ Lake Winn ” or the“ Company ”) (TSXV:LWR) (FSE:EE1A) is pleased to announce results andsummarize work from its Little Nahanni Pegmatite Project (“theProject”) located in western Northwest Territories (NWT). TheProject is 100% owned by Lake Winn and covers 9682.5 hectares (96.82km 2 )of ground that covers the prolific Little Nahanni Pegmatite Group, alithium-bearing pegmatite dyke swarm.
Summarized Activities from2023
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The Little Nahanni Pegmatite Project was expanded byover 380% through the staking of ten mineral tenures (7182.5ha).
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Rock and chip sampling was completed in the central andsouthern parts of the Little Nahanni Pegmatite Group dykeswarm.
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Soil sampling was completed along the edges of the dykeswarm to expand and delineate the extensions of the dykes into areasof cover.
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An Airborne Superconducting Quantum Interference Device(SQUID) geophysical survey was flown in early 2023, with results nowfully processed and interpreted.
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Detailed geological mapping was conducted over parts ofthe Little Nahanni Pegmatite dyke swarm to refine dyke geometries andevaluate drill targets.
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Field surveying was completed to ground truthhistorical drill pads and evaluate future drill sites.
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GeologicAI was contracted in early 2023 to scanhistorical drill core in order to obtain high-resolution drill corephotos, and hyperspectral and XRF data.
“2023 was an incredibly productiveyear for Lake Winn, with the completion of a robust and multi-facetedexploration program designed to aid in the discovery of additionallithium-bearing pegmatite dykes and advance the property to adrill-ready stage” stated Lake Winn’s CEO, Patrick Power. “Ourteam is confident in putting together a larger scale program throughthe winter for the upcoming field season, which will include diamonddrilling to test target high-priority areas that we identified thisseason.”
A total of 67 rock, 944 soil, 468 line-km of airborneSQUID surveys and geological mapping were completed during the 2023field season. Field work was focused in the central and northern parts of the Little Nahanni PegmatiteGroup dyke swarm, which has seen very limited systematic historicalexploration. Highlights and discussion of this work are described inthe following paragraphs.
Rock and Chip Sampling Highlights(Figure 1)
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Peak value from spodumene-bearing pegmatite dykes was 3.52% Li
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A 10 m composite sample across an outcropping dykereturned 1.77% Li
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2023 chip sampling highlights include:
2.11% Li 2 Oover 1.70 m
1.62% Li 2 Oover 3.10 m
1.52% Li 2 Oover 3.00 m
1.90% Li 2 Oover 1.62 m
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Rock samples collected from a 3-10 m widespodumene-bearing dyke that can be traced over an 800 m strike lengthreturned an average grade of 1.52% Li
Rock sampling was mainly conducted in the southern part of the LittleNahanni Pegmatite dyke swarm. Historical work in this area islimited so field sampling was focused on evaluating the tenor of thespodumene-bearing pegmatite dykes. Lake Winn was highly successfulin sampling numerous dykes in this area and identified multipletargets that warrant diamond drilling.
Crews sampled numerous mapped spodumene- andlepidolite-bearing pegmatite dykes, which returned strongly elevatedlithium values from nearly all samples collected in 2023. Lateralcontinuity in the southern part of the dyke swarm was also found to beexceptional. Individual dykes, ranging from one to ten metres inwidth and containing high spodumene content, were traced over strikelengths in excess of 800 m (see Figure 5).
The southernmost portion of the known dyke swarm is anintriguing target on the property as there is evidence that thelithium-bearing dykes continue further southeast below cover; however,these extensions were never followed up by historicaloperators.
Soil Sampling Highlights (Figure2)
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Soil sampling successfully delineated the extension ofdyke swarms that extend under cover into areas that have never beenexplored.
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944 soil samples were collected in 2023 with a peakvalue of 730 ppm Li
565 soil samples returned greater than 100 ppmLi.
113 soil samples returned greater than 200 ppmLi.
7 soil samples returned greater than 500 ppm Li.
Soil geochemical sampling was primarily focused alongthe eastern and southern margins of the known pegmatite dyke swarm. This sampling yielded highly elevated lithium-in-soil values along strike of known dykes and wassuccessful in delineating the potential extensions of known pegmatitedykes under cover.
Geophysical Surveying Highlights(Figure 3)
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Identified the Alpha Prime Anomaly . A previously unidentified 7km-long, 100 m-wide, linear geophysical anomaly that lies outside ofthe known dyke swarm. This anomaly coincides with elevatedlithium-in-soil anomalies and is considered a high-priority follow uptarget for future exploration programs.
Geological Mapping Highlights(Figures 4 and 5)
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Geological mapping was highly successful in refiningthe geometries of known pegmatite dykes within the Little NahanniPegmatite Group dyke swarm.
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Future targeting will focus on the highest density dykeswarms that show the greatest potential for broad pegmatite dykeintercepts.
The Little Nahanni Pegmatite Group belongs to therare-metal Lithium-Cesium-Tantalum (LCT) pegmatite dyke series ofpegmatite dykes. Mineralization on the property is hosted within theLittle Nahanni Pegmatite Group dyke swarm, a high-density swarm ofmetre-scale dykes (up to 10 m) that can be traced along strike forover 15 km and covers a zone over 200 m wide. Over 7 km of thesedykes can be traced on Lake Winn’s claims. To date, over 200lithium-bearing pegmatite dykes have been identified within the swarm.
Lithium minerals within the dyke swarm consist ofspodumene, found as coarse grains up to 30 cm long and inconcentrations of up to 70%, and lepidolite. Additional elevatedvalues of tantalum, cesium and tin mineralization are also presentwithin these dykes.
Community Outreach and Engagementwith Nahæâ Dehé Dene Band
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Lake Winn travelled to Nahanni Butte, NorthwestTerritories to meet with the Nahæâ Dehé Dene Band (NDDB) to presentand discuss the Little Nahanni Pegmatite Project.
“I was incredibly pleased withLake Winn’s first-ever visit to the community of Nahanni Butte. Wehad a wonderful introductory meeting with NDDB and look forward tocontinuing to grow the relationship between Lake Winn and thecommunity in Nahanni Butte. I would like to thank Chief Vital andhis team for their time and for hosting us in their beautifulcommunity.” - Patrick Power, CEO
The Company would like to thank Archer, Cathro &Associates (1981) Limited for their geological support and fieldcrews, and Capital Helicopters (1995) Inc. for their transportationsupport, which both contributed to the success of the 2023 fieldprogram.
QA/QC
Analytical work for all samples was completed by ALSCanada Ltd., with sample preparation in Whitehorse, Yukon andgeochemical analyses in North Vancouver, BC. Samples were finecrushed before a 250-gram split was pulverized to better than 85%passing 75 microns. Multi-element rock sample analysis for 48elements was determined for all samples by the ME-MS81 procedure,which involves lithium borate fusion prior to acid dissolution andICP-MS (Inductively Coupled Mass Spectrometry) analysis. Soilsampling analysis was completed via ME-ICP41, which analyzed for 36elements using Aqua Regia digestion with ICP-AES (Inductively CoupledAtomic Emissions Spectroscopy).
Lithium results received from ALS were reported inLithium (Li) ppm. A conversion to Lithium Oxide (Li 2 O) was made, which is equal toLi*2.153.
Results referenced in this release represent highlightresults only and also include samples collected in 2016.
Technical information in this news release has beenapproved by Kelson Willms, P.Geo., a senior geologist with Archer,Cathro & Associates (1981) Limited and a qualified person for thepurpose of National Instrument 43-101.
About Lake Winn Resources
Lake Winn Resources Corp. is a mineral explorationcompany focused on advancing the 100% owned Little Nahanni Pegmatiteproject (“LNPG”) is located in western Northwest Territories nearthe Yukon Border. The project covers 9682.5 hectares that includes amajor portion of a 13 km-long, and up to 500 m wide, lithium, cesium,and tantalum (“LCT”) pegmatite dyke swarm. The project has hadhistoric drilling and channel sampling that confirm significantlithium, tantalum, cesium, and tin.
The Company was recently issued a 5-year Type-A Permitto conduct exploration on the Property. The permit is inclusive ofcamp construction, drilling, trenching, and channel sampling( see Press Releasedate May 9th, 2023 ).
ON BEHALF OF THE BOARD OF DIRECTORS OF LAKE WINNRESOURCES CORP.
Patrick Power, President & CEO
+1 (604) 218-8772
www.lakewinn.ca
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
Cautionary Statement Regarding“Forward-Looking” Information
This news release contains“forward-looking statements” including but not limited tostatements with respect to Lake Winn’s plans, the estimation of amineral resource, and the success of exploration activities. In thisrelease, it is not certain if the discovery will be economic or not asthis depends on many factors. Forward-looking statements, while basedon management’s best estimates and assumptions, are subject to risksand uncertainties that may cause actual results to be materiallydifferent from those expressed or implied by such forward-lookingstatements. There can be no assurance that such statements will proveto be accurate, as actual results and future events could differmaterially from those anticipated in such statements. Factors thatcould affect our plans include our potential inability to raise fundsas intended, and in such event, we may require all funds raised, ifany, to be used for working capital rather than the intended uses asoutlined. Accordingly, readers should not place undue reliance onforward ? looking statements. Lake Winn undertakesno obligation or responsibility to update forward ? looking statements, except as required by law.
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