Champion Electric Metals Provides Exploration Update: Identifies Three New High-Priority Prospects at its Lithium Project in Eeyou Istchee James Bay, Quebec
Champion Electric Metals Provides
Exploration Update: Identifies Three New High-
Priority Prospects at its Lithium Project in
Eeyou Istchee James Bay, Quebec
Toronto, Ontario--(Newsfile Corp. - October 5, 2023) -
Champion Electric Metals Inc.
(CSE: LTHM)
(OTCQB: CHELF) (FSE: 1QB0) ("
Champion Electric
" or the "
Company
")
is providing an update on
its ongoing
exploration work at its James Bay lithium property (the "
Property
") in Quebec.
While fieldwork is still underway and data is continuously being collated, three high-priority prospects
have already emerged as being likely hosts of a lithium caesium tantalum (LCT) type pegmatite system,
including a new target on the southeast side of the Property near the neighbouring Patriot Battery Metals'
Corvette lithium deposit. Detailed follow-up work over these three newly identified targets is the priority
of the concluding field mapping season. Applications for drilling permits over these targets have been
submitted in anticipation of confirmatory results from the sampling program.
Fieldwork Summary
Field activities recommenced on
August 3, 2023
, as soon as the team could safely return to the project
after the wildfires in the region were under control. In addition to the
light detection and ranging (LiDAR)
and high-resolution aerial photography survey being completed
, the team undertook a first-pass project-
wide mapping and sampling campaign, including in-field X-ray fluorescence (XRF) analysis, targeted
rock saw sampling, and till geochemical sampling. As of this update, the Champion Electric team has
collected 678 rock samples for laboratory analysis, of which 670 have been classified as pegmatites or
rocks having pegmatitic texture. An exploration activity summary map is provided in Figure 1.
Jonathan Buick, President & CEO, commented
:
"The vastness of our property in James Bay is truly impressive, requiring a 30-minute helicopter flight
to cross from one end to the other. Our land package is situated in a zone that experienced a lot of
glacial erosion and deposition, so outcrop is sparse among all the covering glacial sediments. The
team did an amazing job during this first phase at examining every known or suspected outcrop over
the shortened field season to vector in on some exciting targets. We have now generated three high-
priority prospects in the neighbourhood of Patriot Battery Metals'
Corvette deposit. These are already
undergoing follow-up work before the first snow. We look forward to updating the market once all the
results are in."
Geological Mapping and Rock Sampling
Over the last two months, a mixed team of geologists and technicians of up to 12 people led by Dr. Eric
Hebert, P.Geo., a member of the Ordre des Géologues du Québec (OGQ), visited and documented
dozens of areas of outcrop. The work was supported by helicopter and 4x4 trucks where road access
permitted.
The team walked approximately 630 kilometres of traverses and collected 678 rock samples so far,
including 670 classified as pegmatites or with pegmatitic texture. The Ministère de l'Énergie et des
Ressources Naturelles (MERN) of Quebec produced a large-scale regional geological map, which is
relatively accurate when it comes to major rock units. However, since most of the Property is covered by
Quaternary glacial and alluvial sediment, there are important discrepancies at the property scale. For
instance, the Company's work has confirmed that the inferred extent of the greenstone belt covered by
the Property was underestimated by the MERN maps. This means that there is likely more ground in
need of careful exploration beneath the cover.
Results from the LiDAR and high-resolution aerial photography survey are still pending and could not be
incorporated into the current fieldwork programs. Review and interpretation of this data will occur over
the coming months, and newly identified outcrops will form the basis of the 2024 mapping campaign.
Detailed mapping was also carried out over the recently identified nickel sulphide targets
, confirming the
presence of ultramafic rocks.
Figure 1: Exploration activity summary over regional
geology map (courtesy of MERN) and satellite topography
(
Click here
for the full-size view of the map)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8681/182962_8acc97639464c996_001full.jpg
Geochemical Sampling
The geologists and technicians utilized rock hammers or diamond rock saws to collect the 670 samples
of pegmatite, of these, 429 have already been delivered to the laboratory in Val d’Or. The next shipment
of 211 samples is being transported to the laboratory at the time of this news release. The remaining
samples will be delivered to the laboratory when the geology team demobilises from the Property on
October 13, 2023. Figures 2 and 3 show field teams examining and sampling pegmatites on the project.
The team made use of a handheld XRF instrument for geochemical analyses in the field. Lithium is not
measurable in the field by XRF, but other key elements and minerals can be identified with the
instrument. Systematic XRF analyses of selected pegmatite-forming minerals was utilized to classify the
pegmatites and identify fractionation trends. Although the results of analyses obtained from portable
XRF measurements are not laboratory-certified, the real-time data is very useful to direct the team's
efforts. Figure 1 illustrates the distribution and concentration of key geochemical indicator elements and
associated ratios found in muscovite and potassium feldspar crystals of the sampled pegmatites. The
ratio of potassium (K) to rubidium (Rb) in these potassic minerals has been shown to be an indicator for
favourable fractionation of a pegmatite. The lower that ratio, the more favourable for lithium potential
(warm colours on Figure 1). This approach expedited follow-up since laboratory results often require
several weeks.
Experienced samplers also conducted a till sampling orientation survey, resulting in the collection of 123
till samples in the vicinity of newly discovered prospective pegmatites. The trial confirmed that the right
material, i.e. sub-glacial till, was present over the Property, so that areas without outcrop can be
surveyed for down-ice indications of buried pegmatite. Approximately half of the till samples have been
delivered to the laboratory for processing, with the remainder being shipped shortly. Further till sampling
is scheduled to start on October 15, 2023, targeting areas of interpreted amphibolite (metamorphosed
basalts) and where surface prospecting techniques cannot be applied effectively.
Figures 2-3: Field teams examining and sampling pegmatites on the Champion Electric Lithium
Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8681/182962_championelectricfig.jpg
More images from the 2023 field season can be found on the Champion Electric website under the
Lithium Project Media tab:
https://www.champem.com/media-quebec-lithium-project
.
About the Project
The Company's lithium property covers the northern extension of the Lac Guyer Greenstone Belt which
hosts neighboring Patriot Battery Metals' Corvette and
Winsome Resources' Cancet advanced projects
in the prolific James Bay region of Quebec (Figure 4).
Figure 4: Champion Electric Lithium Project location map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8681/182962_8acc97639464c996_004full.jpg
Cautionary Statement:
This release includes preliminary information about the geology and
prospectivity of the Champion Electric Lithium Project while the first exploration program is still in
progress. It is important to remember that observations and sample points are sporadic and
incomplete, owing in part to the covering glacial sediments. The Company has not conducted
sufficient work to assess the mineral potential of the Property, and these preliminary results should not
be relied upon as definitive evidence for the presence or lack of significant mineralisation on the
property.
Quality Assurance and Quality Control
Geologists and technicians collected rock samples were from outcrops using a rock hammer and chisel,
and in selected areas with the use of a rock saw. The rock samples are typically fist-sized and intended
to be representative of the overall outcrop. Certified standards and blanks were systematically inserted
into the sample stream as a check on laboratory Quality Control (QC). Blind field duplicate samples were
also taken, bagged and labeled separately. The samples were stored in the Company's secure camp
and custody maintained until authorized contractors delivered the samples to Activation Laboratories
(Actlabs) in Val d'Or. The Company has selected a total geochemical analysis for a suite of elements
utilizing sodium peroxide fusion and inductively coupled plasma emission spectrometry (ICP-ES) and
mass spectrometry (ICP-MS). Actlabs' Quality System is registered to international quality standards
through the International Organization for Standardization / International Electrotechnical Commission
(ISO/IEC) 17025:2017 (including ISO 9001:2015 and ISO 9002 specifications).
Qualified Person
Dr. Eric Hebert, P.Geo., Senior Geological consultant, is a member (#0842) of the Ordre des Géologues
du Québec (OGQ) and a qualified person within the meaning of National Instrument 43-101, and has
reviewed and approved the technical information contained in this press release.
About Champion Electric Metals Inc.
Champion Electric is a discovery-focused exploration company that is committed to advancing its highly
prospective lithium properties in Quebec, Canada and cobalt properties in Idaho, United States. In
addition, the Company owns the Baner gold project in Idaho County and the Champagne polymetallic
project in Butte County near Arco, Idaho.
The Company's shares trade on the CSE under the trading symbol "LTHM", on the OTCQB under the
trading symbol "CHELF", and on the Frankfurt Stock Exchange under the symbol "1QB0". Champion
Electric strives to be a responsible environmental steward, stakeholder and contributing citizen to the
local communities where it operates, taking its social license seriously, employing local community
members and service providers at its operations whenever possible.
ON BEHALF OF THE BOARD OF CHAMPION ELECTRIC
"Jonathan Buick"
Jonathan Buick, President and CEO
To learn more, please visit the Company's SEDAR profile at
www.sedarplus.ca
or the Company's
corporate website at
www.champem.com
.
For further information, please contact:
Investor Relations and Communications
Phone: (416) 567-9087
Email:
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF
AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER,
SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH
OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.
Cautionary Statements
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or
accepted responsibility for the adequacy or accuracy of this press release. This press release may
include forward-looking information within the meaning of Canadian securities legislation, concerning
the business of the Company. Forward-looking information is based on certain key expectations and
assumptions made by management of the Company, including closing of the Transactions and the
prospectivity of the Projects for lithium. Although the Company believes that the expectations and
assumptions on which such forward-looking information is based on are reasonable, undue reliance
should not be placed on the forward-looking information because the Company can give no
assurance that they will prove to be correct. Forward-looking statements contained in this press
release are made as of the date of this press release. The Company disclaims any intent or obligation
to update publicly any forward-looking information, whether as a result of new information, future
events or results or otherwise, other than as required by applicable securities laws.
The Projects are at an early stage of exploration, and the Company cautions that the qualified
persons who have reviewed and approved this news release have not verified scientific or technical
information produced by third parties.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/182962