(TheNewswire)
Vancouver, Canada– TheNewswire - March 13 th , 2023 – Arbor Metals Corp. ( “Arbor” or the “ Company ”)(TSXV:ABR ) , ( FWB:432) considers the positiveprogress recently made in Quebec on the advancement of lithiumprojects, as instrumental in Quebec becoming a near-term globallithium powerhouse, and supportive of a high level of explorationactivities in the James Bay region.
Recently, the Government ofCanada gave the “Green Light” for the James Bay Lithium mine , located 100 kilometres east the Eastmain Cree Community,and about 270 kilometres West-Southwest of the Company’s Jarnetlithium project contiguous with Patriot Battery Metals Inc.’s (PMET)high-profile Corvette lithium project. The James Bay Lithium mine isowned and being developed by Allkem Ltd. (formerly Galaxy ResourcesLimited (Galaxy) and Orocobre Limited), an Australia-based lithiumproducer.
( https://www.canada.ca/en/impact-assessment-agency/news/2023/01/green-light-for-clean-energy-government-of-canada-approves-james-bay-lithium-mine-project.html)
As outlined in Allkem’s 2023 Half Year Results(Allkem website -February 24 th , 2023) and at last week’s BMO GlobalMetals, Mining & Critical Minerals Conference in Florida, whereAllkem’s MD & CEO, Martin Perez de Solay indicated that Allkemis fully funded with plans to triple lithium production in the nearfuture. On the James Bay mine, key construction permits are completedand ready for submission (after ESIA is approved). Once permits aresecured, construction will commence, and Allkem will update guidancefor first lithium production ( Allkem website-February 24th, 2023 ).
Other lithium projects advancing in Quebec includeSayona Mining/Piedmont Lithium Inc.’s Sayona Project in La Corne,with an agreement with Tesla for shipments of spodumene, andPhiladelphia-based Livent Corp.’s (NYSE: LTHM) 50% interest inNemaska Lithium Inc., directed at development and production of theWhabouchi spodumene deposit.
The Company’s Jarnet lithium project, located in theJames Bay region of Quebec, comprises 70 map-designated claims,covering an area of approximately 3,759 hectares. The Jarnet Southblock is less than two km northwest of PMET's CV-5 pegmatite zone,where an aggressive diamond drill program is in process, having made anumber of significant discoveries. PMET recently reported 156.9 metresof 2.12 per cent Li2O (lithium oxide), including 25 m of 5.04 per centLi2O (see PMET news release, Jan. 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 Metal 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 diamond drilling has confirmedsignificant lithium mineralization, and represents one of the highestprofile lithium exploration projects in the sector.
The Rakounga Gold Project consists of an exploration permit covering atwo-hundred-and-fifty square kilometer area located along the GorenGreenstone Belt in central Burkina Faso.
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, and other factors or information. Such statementsrepresent the Company’s current views with respect to future eventsand are necessarily based upon a number of assumptions and estimatesthat, while considered reasonable by the Company, are inherentlysubject to significant business, economic, competitive, political andsocial risks, contingencies and uncertainties. Many factors, bothknown and unknown, could cause results, performance, or achievementsto be materially different from the results, performance orachievements that are or may be expressed or implied by suchforward-looking statements. The Company does not intend, and does notassume any obligation, to update these forward-looking statements orinformation to reflect changes in assumptions or changes incircumstances or any other events affecting such statements andinformation other than as required by applicable laws, rules andregulations.
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