Volta Provides Exploration Update on Its Falcon West Lithium Discovery, Ontario, Canada
Volta Provides Exploration Update on Its
Falcon West Lithium Discovery, Ontario,
Canada
Toronto, Ontario--(Newsfile Corp. - March 22, 2024) -
Volta Metals Ltd.
(CSE: VLTA)
("
Volta
" or the
"
Company
") wishes to announce that it has commenced a structural targeting study as part of ongoing
exploration at the Company's Falcon West Lithium Property (the "
Property
"), in northwestern Ontario,
Canada. Interpretation of its recently completed discovery drill program, in conjunction with geochemical
soil data and a high-resolution drone magnetic survey, has identified multiple high-priority targets for
follow-up as part of its planned 2024 exploration program (Figures
1 & 2
).
In summary, the recent drill holes confirm the presence of at least 6 near-surface spodumene-albite
pegmatite-hosted lithium, cesium, and tantalum pegmatites discovered within an approximately 300 by
300-meter structural corridor that remains open for expansion (
Table 1
).
Table 1. Assay highlights for drill holes completed at the Falcon West Project
Hole ID
From (m)
To (m)
Length (m)
Li
2
O %
Cs (ppm)
Ta (ppm)
Pegmatite
FW23-01
12.4
19
6.6
1.03
297.2
77.2
AM
FW23-02
24.9
29.8
4.9
0.04
169.8
91.6
AM
FW23-03
8.0
11.9
3.9
1.41
52.2
43.2
CDC
FW23-04
11.6
21.7
10.1
1.11
64.0
46.1
CDC
FW23-05
13.7
29.3
15.6
1.24
155.5
55.4
Far West South
FW23-06
30.65
32.45
1.8
0.74
85.6
32.8
Far West South
FW23-07
15.65
20.8
5.15
1.50
79.8
39.1
Far West North
FW23-08
28.4
37.2
8.8
1.2
72.3
33.1
Far West North
FW23-09
7.5
11.65
4.15
1.20
98.6
43.3
JT
FW23-10
14.6
21.4
6.8
1.18
64.1
30.3
JT
FW23-11
12.3
13
0.7
0.77
29.7
62.0
AM
In preparation for its 2024 field season, the Company has initiated a detailed structural geology study to
further understand this newly discovered Li system.
The Company's technical advisor, Dr. Fred Breaks, commented,
"We have commenced a study that
may uncover the structural signatures to advance the Falcon Project further. Structural geology
is one key to understanding the emplacement and evolution of lithium-bearing pegmatites. The
structural study is crucial at this project stage and will further generate prospective targets for
our exploration program."
The Company's soil geochemical survey has identified several large geochemical pathfinder anomalies
immediately adjacent to and along the strike from the recently discovered pegmatites. This suggests that
the system is open for expansion under glacial till cover.
Figure 1. Soil Anomalies obtained from 2023 exploration program
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/9598/202684_f6389c37a4312881_001full.jpg
The Company also completed a drone magnetic survey over the property as part of the 2023 exploration
program. The magnetic data suggest that the newly discovered pegmatites are related to a broad
magnetic low (Figure 2).
Figure 2. Magnetic survey map of Falcon West Lithium Project
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/9598/202684_f6389c37a4312881_002full.jpg
The Company is currently finalizing its 2024 exploration program, which will include further geochemical
sampling, mechanized trenching, and, contingent on results, diamond drilling.
Qualified Person
The technical content of this news release has been reviewed and approved by Andrew Tims, P.Geo.,
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.
Corporate Update
In August 2023, the Company entered into a right of first refusal ("ROFR") agreement with Reflex
Advanced Materials Corp. ("Reflex") on the Zigzag property, which is contiguous to the Company's
Falcon West Property. On January 8, 2024, Reflex announced the sale of the Zigzag property to Integral
Metals Corp ("Integral"), a private company. The Company's position is that the sale to Integral was
completed without allowing Volta to exercise its rights under the agreement to acquire the property. The
Company has filed a statement of claim against Reflex, Integral, and a member of Reflex's management,
to enforce its rights under the agreement.
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 based in Toronto, Ontario, focused
on lithium, cesium, and tantalum. It has optioned and is currently exploring a critical minerals portfolio of
lithium, cesium, and tantalum projects in northwestern Ontario, considered one of the world's most
prolific, emerging hard-rock lithium districts. To learn 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:
Website:
www.voltametals.ca
Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements relating to product development, plans,
strategies, and other statements that are not historical facts. Forward-looking statements are often
identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All
statements other than statements of historical fact included in this news release are forward-looking
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
aim to prevent and minimize impacts on the First Nations through a variety of mitigation measures and
offsetting benefits. There can be no assurance that such statements will prove to be accurate, and actual
results and future events could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the Company's expectations include: the
risks detailed from time to time in the filings made by the Company with securities regulators; the fact
that Volta's interests in the Property are options only and there are no guarantee that such interest, if
earned, will be certain; the future prices and demand for lithium; and delays or the inability of the
Company to obtain any necessary approvals, permits and authorizations required to carry out its
business plans. The reader is cautioned that assumptions used in the preparation of any forward-looking
statements may prove to be incorrect. Events or circumstances may cause actual results to differ
materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company. The reader is cautioned not to place
undue reliance on any forward-looking statements. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect and actual results may differ materially
from those anticipated. Forward-looking statements contained in this news release are expressly
qualified by this cautionary statement. The forward-looking statements contained in this news release
are made as of the date of this news release, and the Company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of new information, future events, or
otherwise, other than as required by law.
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