Mining
Tuesday, October 24th, 2023 2:11 pm EDT
Key Points
- Exploration Update: Discovery Lithium Inc., a Canadian exploration company, has reported encouraging preliminary results from its late summer sampling and mapping campaign in northern Quebec’s Nunavik region. Based on these results, the company is launching a 3-day follow-up program focused on key Vaubert Lake claim targets of interest.
- Exploration Focus: The company’s exploration efforts center on lithium prospecting and mineralogy. They have identified anomalous data that is considered highly prospective for lithium through mapping, visual inspections, and field results from handheld LIBS (Laser-Induced Breakdown Spectroscopy) analysis. This positive data has led to the initiation of a second-phase exploratory sampling campaign for further study.
- Strategic Commitment: Discovery Lithium aims to position itself as a leading resource exploration operation in Quebec. Their comprehensive exploration efforts, taking place within six months of acquisition, demonstrate a commitment to finding the next significant lithium discovery in the region, contributing to the domestic energy industry’s growth and national competitiveness. The company’s claims in the Nunavik region are strategically located and have shown high lake bottom sediment anomalies for lithium and cesium, indicating significant potential.
VANCOUVER, British Columbia, Oct. 24, 2023 (GLOBE NEWSWIRE) — Discovery Lithium Inc. (CSE: DCLI) (OTC: DCLIF) (FRA: Q3Q0) (the “Company,” or “Discovery Lithium”), a Canadian exploration company focused on advancing domestic energy freedom through regional lithium discovery is pleased to announce that as a result of encouraging preliminary results of its initial late summer sampling and mapping campaign in the northern Quebec region of Nunavik, the Company has elected to undertake an immediate 3-day-follow-up program on key Vaubert Lake claim targets of interest.
During phase one of its growing multi-phase strategic exploration plan, the Discovery field team identified anomalous data occurrences considered highly prospective for lithium. This data is based on extensive cross-referenced mapping, a series of visual inspections of rock and soil sampling, along with field results from handheld LIBS (Laser Induced Breakdown Spectroscopy) analysis.
Based on these encouraging preliminary results, the Company has initiated an immediate second phase exploratory sampling campaign to further study the target locations and surroundings in greater detail prior to the onset of winter conditions. Per the initial sampling, all new samples from the follow-up program will also be sent to SGS Laboratories for analysis. The sample results, including the mapping and related data will be used by the Company to determine the most prospective drill targets on the Vaubert Lake Project.
“Thanks to the work accomplished by our experienced exploration field team, we were able to mobilize a rapid reaction follow-up program as soon as we understood that the preliminary results are pointing us towards some highly intriguing mineralogy,” stated Michael Gheyle, Discovery Lithium’s President, and CEO. “The team’s efforts have allowed us to efficiently cover the entire Vaubert and Serindac Lake Projects in our quest for the next large lithium discovery in Quebec. To initiate successive exploration efforts less than 6 months post acquisition, demonstrates our commitment and ability to position Discovery Lithium as a leading resource exploration operation in Quebec.”
Property Description
Vaubert Lake, Nunavik, Nord-du-Québec Region
Highly recognized, award-winning prospector and project proponent Shawn Ryan has led the way in identifying the mining-friendly Nunavik region through his extensive soil studies and he has advised the Company regarding the use of best practice fieldwork programs. Discovery Lithium’s massive claim holdings are located directly upon some of the highest lake bottom sediment anomalies in the entire province. This data represents 99th percentile lithium and cesium as identified in the official Quebec government ministry database.
(References to active mines and other mineral projects is for illustrative purposes only. There can be no assurances the Company will achieve comparable results)
Over the summer, Discovery Lithium engaged Ground Truth Exploration to deploy experienced research teams onto the Nunavik properties for an extensive mapping and sampling campaign. Previously determined to be an excellent location for rare-element pegmatites including favourable lithological rock-types and structural interpretation of regional magnetics which are coincident with very high lithium, cesium, and rubidium lake sediment samples. All samples collected over the summer have been shipped to SGS Laboratories with assay results anticipated by the end of November. Based on these results the Company will develop drill targeting and logistics for follow-up campaigns aimed at developing the properties for future valuation purposes.
On behalf of the Board of Directors,
Michael Gheyle
President & Chief Executive Officer
Qualified Person; Historical Estimates
The technical content of this news release has been reviewed and approved by Mike Kilbourne, P. Geo., (OGQ # 1971) who is an independent Qualified Person (QP) as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
This news release includes market and industry data obtained from publicly available sources and other sources believed by the Company to be true. Although the Company believes it to be reliable, the Company has not independently verified any of the data from third-party sources referred to in this news release or analyzed or verified the underlying reports relied upon or referred to by such sources, or ascertained the underlying assumptions relied upon by such sources. The Company does not make any representation as to the accuracy of such information.
The Company would like to welcome investors to visit our website and join our mailing list at www.discoverylithium.com/news-alerts/. By subscribing you will stay up to date with the latest news releases and advancements within our company.
About Discovery Lithium (CSE: DCLI) (OTC: DCLIF) (FRA: Q3Q0)
Discovery Lithium Inc. is a Canadian exploration company focused on advancing mineral resource projects in North America. The Company holds a 100% interest in 1,675 mineral claims in Serindac Lake and 2,113 mineral claims in Vaubert Lake for a combined total of approximately 164,283 hectares (~405,952 acres) located in the Nunavik region of Northern Quebec, and with a further total of 303 mineral claims comprising approximately 16,392 hectares (~40,505.5 acres) identified as the Route De Nord, Lac Belanger, Lac Ferland and Lac Roberston properties located across the northern and eastern regions of Québec including the prolific lithium district of the James Bay region. Additionally, the Company is actively advancing its ESN Project for gold exploration in Nevada and evaluating the Koster Dam Project in Central British Columbia through a joint venture with Cariboo Rose Resources. Find out more at: www.discoverylithium.com and follow us on X (formerly twitter), Facebook, and LinkedIn.
For further information, please contact:
Discovery Lithium Inc.
1450 – 789 West Pender Street,
Vancouver, BC Canada V6C 1H2
Telephone: +1-778-868-2226
Email: info@discoverylithium.com
Web: www.discoverylithium.com
