(TheNewswire)
January 26 th , 2023 – TheNewswire - Vancouver, British Columbia – Lake Winn ResourcesCorp. (“ LakeWinn ” or the “ Company ”) (TSXV:LWR.H) ( FSE:EEI) (OTC:EQTXF) is pleased toprovide an exploration update on the Company’s 100% owned LithiumProject, Little Nahanni Pegmatite Group (LNPG) at the NorthwestTerritory, Yukon border. The claims cover the majority of LNPGlithium, cesium, tantalum, tin (LCT) pegmatite vein swarm whichextends over 13km of strike length. The property lies within 5km of abulldozer trail and within 12km of an all-weather gravel road toHoward’s Pass.
Current Exploration
Lake Winn commenced exploration in late 2022immediately upon funding (NR private placement timing). The mostanticipated component of the current program is the magnetometersurvey.
This is no ordinary magnetometer survey, Lake Winn hasdeployed DIAS Geophysical state of the art QMAGTsystem which uses a state of the art, SQUID (superconducting quantuminterference device) sensor. The system measures the complete gradienttensor (second-order) of the earth’s magnetic field providingdirectional information about the magnetic field at an order ofmagnitude higher sensitivity, not available from total field sensors,which have been the industry standard for many years.
The SQUID sensors are developed by Supracon AG of Jena,Germany. Operating within a liquid helium bath, the result of over 20years of development and testing and has now flown many successfulexploration campaigns.
The vector magnetic data and ultra-high sensitivity wasthought necessary to detect and map the LCT pegmatites at LNPG which,do not have a particularly strong magnetic response. The preliminarydata just received, has striking linear magnetic responses, with onezone lining up with the known pegmatite trend (see Figure 1). and witha second stronger linear anomaly with no known geological explanation.Field crews will be deployed to investigate as soon as the snowclears. Based on the preliminary results the company staked additionalground to the east and south. The staking has been submitted to theNWT mines department and acceptance is awaited.
The project has 1,798m of historic drilling, theoriginal drilling in 1997 as a tantalum project, did not assay forLithium and this was corrected in 2016 when the core was re-assayedfor Lithium. Results are given below in table 1. An extensive channelsampling program was also carried out at this time and the highlightsof this program are shown in table 2. This demonstrates that thepegmatites carry world class lithium, tantalum and cesiummineralization. The task ahead is to find the zones along the 13 km ofstrike that could sustain economic mining.
In addition, to the SQUID magnetics, the Company’scurrent exploration focus uses the latest exploration tools. As partof this effort historic drill core was sent for scanning byGeologicAI. GeologicAI maps the core in fine detail utilizing optical,infrared and x-ray fluorescence (“ XRF”) . Scanning has been completedand the core returned to storage. Analysis of the data is awaited. Thedata from the historic core will be used train the AI to map andautomatically log geology and mineralization during the Company’splanned summer drill program. The method should have the ability tomap the lithium bearing spodumene and directly detect the tantalum andtin. Quantitative knowledge of the size distribution of the spodumenewill directly aid metallurgy.
The company has commissioned Auracle GeospatialScience, Inc. to do a structural analysis. The dyke swarms are longand linear but have been disturbed by faulting during the mountainbuilding process. Auracle's 3D technology uses satellite radar andthermal data, but goes beyond INSAR's and DiffInSAR's remote satellitemonitoring with proprietary methods that remove SAR's typical noiseand distortion to produce actual, not derived, 3D undergroundinformation. Lake Winn awaits the final report from this study bymid-February.
Lake Winn is working with Archer Cathro &Associates, to manage the exploration program. Archer Cathro hasunparalleled experience in the Canadian North, with their partnershipthe Company has commenced permitting, and First Nation permissions insupport of the planned summer drill program.
A desk-top engineering study, to bring road access tothe project, has been commissioned and completed.
Mr. Buddy Doyle, exploration manager for the projectcommented:
“Our approach to this exciting project is to doeverything we can prior drilling. For this we are utilizing the mostmodern and proven tools that were not available to past explorers. Italso involves understanding the past work, and we are doing this withArcher Cathro, constructing a coherent data room.”
Current knowledge shows the property contains severalsemi-parallel dyke swarms up to 50m wide, with the swarm being made upof multiple pegmatite dykes from 0.2m to 10m wide separated by barrencountry rock. Lake Winn is focused on two target types for drilltesting.
Target 1. Near surface open pittable target, wherethere is a vein thickening, in particular on structural bends wherethe geometry doubles. Investigating if optical machine sorting caneasily separate the pegmatite from the country rock at the mining facemight be a game changer for this project. Studies for separating thespodumene from the other materials of economic interest, tantalum,cesium and tin. In the early stage of the metallurgical process willalso be investigated. The potential additional credits from theseother elements that occur with the lithium have potential to enhancethe economics of the project.
Target 2. Conceptually the dyke swarms with many“ fingers ” of dykes areemanating out of a thicker more coherent “ hand ” at depth. This deeper body is aprimary target for drilling. The dyke swarm is exposed on the mountaintop but also along the cliff faces of the cirques demonstrating, alongwith the historic drilling with a greater than 300m extent. So far all the drilling has been at the top of themountain, drilling at the base of the cirques will provide deeperaccess to look for the “ hand .”
Fig. 1 SQUID magnetometer preliminary (Data covers anarea physically staked, Company awaits final approval from Governmentof NWT.)
Fig. 2 Mag Section
Fig. 3 Property Geology
In 2007 , War Eagle Mining drilledeight diamond holes (total 1798m) from six sites, together with asurvey of the dyke system. This was aimed at testing dyke grade atdepth and to see whether dykes tended to coalesce at lower elevation
Interval DDH From (m) To (m) Width (m) | Collective Pegmatite Width (m) | Li (ppm) | Li2O (%) | % Spod. | Ta (ppm) | Ta2O5 (g/t) | Sn (ppm) | SnO2 (g/t) | ||||
MAC001 | 62.50 | 63.60 | 1.10 | 1.10 | 222 | 0.05 | 0.60 | 592 | 722.4 | 550 | 697.9 | |
MAC001 | 68.80 | 70.10 | 1.30 | 1.30 | 1386 | 0.30 | 3.74 | 156 | 190.5 | 447 | 568.3 | |
MAC001 | 86.00 | 89.20 | 3.20 | 2.10 | 2497 | 0.54 | 6.74 | 63 | 76.9 | 303 | 384.8 | |
MAC001 | 102.80 | 105.94 | 3.14 | 1.74 | 2910 | 0.63 | 7.86 | 115 | 140.4 | 149 | 189.2 | |
MAC001 | 121.60 | 122.10 | 0.50 | 0.50 | 328 | 0.07 | 0.89 | 500 | 610.5 | 316 | 401.3 | |
MAC006 | 61.88 | 66.86 | 4.98 | 2.18 | 1186 | 0.26 | 3.20 | 63 | 76.9 | 182 | 231.1 | |
Individual | MAC006 | 85.60 | 87.00 | 1.40 | 1.40 | 3041 | 0.65 | 8.21 | 259 | 316.6 | 419 | 531.9 |
Intervals | MAC006 | 172.37 | 190.64 | 18.27 | 13.00 | 4294 | 0.92 | 11.59 | 27 | 33.0 | 118 | 149.9 |
MAC007 | 30.22 | 33.62 | 3.40 | 0.98 | 911 | 0.20 | 2.46 | 47 | 57.4 | 135 | 171.5 | |
MAC007 | 105.84 | 116.78 | 10.94 | 9.86 | 5581 | 1.20 | 15.07 | 29 | 35.4 | 173 | 219.7 | |
MAC007 | 143.73 | 149.20 | 5.47 | 1.69 | 1536 | 0.33 | 4.15 | 22 | 26.9 | 82 | 104.1 | |
MAC008 | 37.58 | 38.73 | 1.15 | 1.15 | 2703 | 0.58 | 7.30 | 141 | 172.1 | 415 | 526.9 | |
MAC008 | 156.63 Averages for widths of greater than 50 metres: | 158.45 | 1.82 | 1.82 | 2199 | 0.47 | 5.94 | 67 | 82.0 | 148 | 188.2 | |
"Bulk" | MAC001 62.50 122.10 59.60 | 8.93 | 345 | 0.07 | 0.93 | 32 | 39.1 | 54 | 68.6 | |||
Intervals | MAC006 61.88 190.64 128.76 | 30.16 | 735 | 0.16 | 1.98 | 11 | 13.4 | 32 | 40.6 | |||
MAC007 100.85 179.10 78.25 | 15.25 | 977 | 0.21 | 2.64 | 8 | 9.8 | 43 | 54.6 |
Table 1 Significant Historic Drill Results (Geologicaland Summary Report of the Little Nahanni Prospect – 2017)
Channel Samples Assay Results 2016 | |||
Lithium | Tantalum | Tin | Intersection |
1.57% Li 2 O | 250.3 g/t Ta 2 O 5 | 0.95% SnO 2 | 1.70 m |
2.04% Li 2 O | 57.8 g/t Ta 2 O 5 | 0.05% SnO 2 | 4.00 m |
3.10% Li 2 O | 53.6 g/t Ta 2 O 5 | 0.03% SnO 2 | 0.95 m |
2.33% Li 2 O | 59.0 g/t Ta 2 O 5 | 0.05% SnO 2 | 1.20 m |
1.67% Li 2 O | 41.4 g/t Ta 2 O 5 | 0.03% SnO 2 | 3.75 m |
1.83% Li 2 O | 67.3 g/t Ta 2 O 5 | 0.05% SnO 2 | 1.25 m |
1.63% Li 2 O | 52.9 g/t Ta 2 O 5 | 0.01% SnO 2 | 5.15 m |
Table 2 Channel Assays
Fig. 4 China Wall Zone and example of a circque, cliff exposure of thepegmatite dyke swarm, the lighter white materials are the pegmatite.
Fig 5 .Channel Sampling at China Wall
Qualified Person
The Qualified Person for this news release is BuddyDoyle, AUSIMM, a Geologist with over 35 years of experience in mineralexploration, discovery, and evaluation. A Qualified Person under theprovisions of the National Instrument 43-101.
About Lake Winn
Lake Winn Resources Corp., is a mineral explorationcompany, focusing on advancing its’ 100% owned Little NahanniLithium Project, Northwest Territories, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS OF LAKE WINNRESOURCES CORP.
Patrick Power, President & CEO
+1 (604) 218-8772
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Cautionary Statement Regarding “Forward-Looking”Information
This news release contains “forward-lookingstatements” including but not limited to statements with respect toArctic Star’s plans, the estimation of a mineral resource, and thesuccess of exploration activities. In this release, it is not certainif the kimberlite discovered will be economic or not as this dependson many factors. Forward-looking statements, while based onmanagement’s best estimates and assumptions, are subject to risks and uncertainties that may cause actualresults to be materially different from those expressed or implied bysuch forward-looking statements. 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. Factors that could affect our plans include our potentialinability to raise funds as intended, and in such event, we mayrequire all funds raised, if any, to be used for working capitalrather than the intended uses as outlined. Accordingly, readers shouldnot place undue reliance on forward ? looking statements. Arctic Starundertakes no obligation or responsibility to updateforward ? lookin g statements, except as requiredby law.
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