Drilling Discovers Spodumene-Bearing Pegmatites up to 14.6m Thick at Volta’s Falcon West Lithium Property Mineralization remains open for expansion
ANNOUNCEMENT
December 12, 2023
700a-390 Bay Street, Toronto, ON M5H 2Y2
T 416.919.9060
CSE: VLTA | voltametals.ca 1
Drilling Discovers Spodumene-Bearing Pegmatites up to 14.6m
Thick at Volta’s Falcon West Lithium Property
Mineralization remains open for expansion
HIGHLIGHTS
• Spodumene (high-grade Lithium mineral) bearing pegmatites intersected in all 11 boreholes
• Multiple mineralized pegmatites were intersected in holes targeting AM, Falcon West North,
Falcon West South New spodumene-bearing pegmatite dykes intersected
• Pegmatite thickness range from 1.3m to 14.6m thick and the multiphase mineralized system
remains open for expansion along strike and depth
• Mineralized samples have been delivered to the laboratory in Thunder Bay with results
expected in early 2024
Volta Metals Ltd. (CSE: VLTA) (“Volta” or the “Company”) is pleased to announce the completion
of the final hole of its inaugural drill program at the Company’s Falcon West Lithium Property
(the “Property”), located in the Falcon-Seymour corridor in northwestern Ontario, Canada. The
11-hole, 933-metre drill program targeted 5 recently discovered spodumene pegmatites within
a 300m by 500m area (See news release dated November 14, 2023). All holes intersected near-
surface spodumene mineralization, with FW23-07 intersecting a blind, 11.7m wide mineralized
pegmatite that it remains open in all directions (Figure 1 through Figure 4).
The spodumene mineralization in pegmatites confirms the surface observations of homogeneous
spodumene dispersion within an albite-spodumene-type pegmatite system (see the comments
by the Company’s technical director, Dr. Fred Breaks, in the news releases dated October 3, 2023
and November 14, 2023). Mineralized pegmatite intercepts observed are up to 14.6m wide and
11.9m depth, with a 100% success rate. In detail, at least 2 phases of spodumene mineralization
are noted, suggesting the presence of a robust or well developed mineralized system. The
spodumene observed in the core is generally coarse-grained, with crystals up to 40cm in length
and 2.5cm in width (Figure 1 and Figure 2).
Kerem Usenmez, P.Eng., President and CEO, commented, “We are very pleased with our first-
ever drilling program at the Falcon West Lithium Property, which only tested a small portion of
the large, ~13km2 land package. Our experienced team’s success of discovering and drilling
with 100% success in less than 6 months validates the significant mineralization potential of
this project and Volta as a whole.”
The Company’s technical advisor, Dr. Fred Breaks, commented, “The initial results of the drilling
program suggest the presence of a stacked spodumene pegmatite system at Far West North
that will require further work to verify. The lithochemistry and structural data accrued from
this early phase of drilling will greatly aid in the continuing development of a lithium pegmatite
exploration model.”
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Figure 1. Core showing intense coarse-grained spodumene (Lithium mineral) mineralization in
Hole FW23-09 (JT Pegmatite)
Figure 2. Core showing intense consistent spodumene (Lithium mineral) mineralization in
Hole FW23-05 (Far West South “FWS” Pegmatite)
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Figure 3. Drill collar locations – mineralization remains open in all directions
The success of the initial drilling highlights the significant mineralization potential of the Falcon
West Lithium Project. This inaugural drill program provided additional information to the
Company’s exploration team to improve their knowledge of the structural orientations of the
pegmatites and enhance drill-hole design for the next drilling and exploration program. This
initial drilling was designed to test the 5 spodumene-bearing pegmatites at depth, which were
discovered within a small section of the property.
All mineralized core samples were delivered to Activation Laboratories Ltd in Thunder Bay,
Ontario. The Company will design the next phase of exploration, including drilling, after receiving
the laboratory assay results in January.
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Figure 4. Drill sections with spodumene intercepts for Borehole FW23-07 & 08 (FWN
Pegmatite)
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QA/QC Protocol
Volta implemented a strict QA/QC protocol in processing all rock samples collected from the
diamond core samples obtained from the Falcon West Lithium property. The protocol included
inserting and monitoring appropriate reference materials, in this case, high-concentration and
low-concentration certified OREAS lithium standards, blanks, and duplicates, to va lidate the
accuracy and precision of the assay results. All collected rock core samples were put in sturdy
plastic bags, tagged, and sealed by professional geologists. Sample bags were then put in rice
pouches and kept secure before being sent by road transport to Activation Laboratories Ltd. in
Thunder Bay, Ontario. The lithium is being analyzed by Peroxide Fusion ICP-OES method (8-Li
package).
Qualified Person
The technical content of this news release has been reviewed and approved by Andrew Tims,
P.Geo., who is an independent Qualified Person (“QP”) as defined in National Instrument 43-101,
Standards of Disclosure for Mineral Projects. The QP and the Company have not completed
sufficient work to verify the historical information on the Properties, particularly regarding
historical exploration, neighbouring companies, and government geological work.
For more information about the Company, view Volta’s website at www.voltametals.ca.
ABOUT VOLTA METALS LTD.
Volta Metals Ltd. (CSE: VLTA) is a mineral exploration company focused on lithium, cesium, and
tantalum and is based in Toronto, Ontario. It has optioned and is currently exploring a critical
minerals portfolio of lithium, cesium, and tantalum projects in northwestern Ontario, which is
considered to be one of the most prolific, emerging hard-rock lithium districts in the world. To
find out more about Volta and its flagship Falcon West Lithium Project, please visit
www.voltametals.ca.
ON BEHALF OF THE BOARD
For further information, contact:
Kerem Usenmez, President & CEO
Tel: 416.919.9060
Email: [email protected]
Website: www.voltametals.ca
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responsibility for the adequacy or accuracy of this release.
This news release contains forward -looking statements relating to product development, plans,
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statements other than statements of historical fact included in this news release are forward -looking
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statements that involve risks and uncertainties. Forward -looking information in this news release
includes, but is not limited to, including the Company’s planned exploration activities and the Company’s
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