(TheNewswire)
Vancouver, Canada– TheNewswire - March 6, 2023 – ArborMetals Corp. ( “Arbor” or the “ Company ”)(TSXV:ABR, ( FWB:432)considers the news that Tesla, and other automobile makers areincreasing focus on North America for expansion facilities to meet EVdemands, due to beneficial subsidies and government support (such asthe USA Inflation Reduction Act), as an encouraging development forlithium exploration and development companies as well.
Tesla, and European companies including Northvolt,Linde, Volkswagen and Enel have all expressed interest in profitingfrom the U.S. subsidies. Currently the U.S. produces only 1% of globallithium production, and no lithium production from hard-rock,spodumene deposits. The vast spodumene lithium deposits being exploredand developed in Quebec, Ontario and Manitoba could be a ready sourceof raw material for the expansion facilities being planned byautomobile makers and battery plant companies.
Recent industry direct financial participation inlithium projects has occurred, such as General Motors Co’s. (GM) US$650-million investment into Lithium Americas’ Thacker Pass lithiumproject in Nevada. Governments have shown their commitment to thelithium mining sector with significant investments as shown by theGovernment of Canada into E3 Lithium Ltd. to advance Canada’s EVbattery production through the Strategic Innovation Fund’s Net ZeroAccelerator initiative. Arbor anticipates that more EV lithiumend-users, government subsides, and battery companies will contributedirectly into project participation and/or financial support tolithium exploration companies. This represents a new alternativesource of financing for lithium exploration companies, and ensures arobust lithium sector.
The Company’s Jarnet properties cover multiplepegmatite dikes which the Company's geological team have identified assimilar to the pegmatite dikes on the CV-5 target. The Jarnet lithiumproject, located in the James Bay region of Quebec, comprises 70map-designated claims, covering an area of approximately 3,759hectares. The Jarnet South block is less than two km northwest ofPatriot Battery Metal's CV-5 pegmatite zone, where an aggressivediamond drill program is in process, having made a number ofsignificant discoveries. Patriot Battery Metals recently reported156.9 metres of 2.12 per cent Li2O (lithium oxide), including 25 m of5.04 per cent Li2O (see Patriot Battery Metlas news release, Jan. 19,2023) from the CV-5 pegmatite zone 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 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, andrepresents one of the highest profile lithium exploration projects inthe 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 theCompany’s website at www.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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