Champion Electric Metals Receives Drill Permit and Awards Drill Contract at its Lithium Property in James Bay, Quebec
Champion Electric Metals Receives Drill
Permit and Awards Drill Contract at its
Lithium Property in James Bay, Quebec
Gravity survey completed across the Western Prospect (discovery zone of lithium bearing
boulder and thousands of lithium bearing fragments) - data received, results to be announced
as soon as the data has been processed
Received the drill permit over the Western Prospect
Signed drill contract
Commenced flagging the roads for drill pad locations
Toronto, Ontario--(Newsfile Corp. - March 5, 2024) - Champion Electric Metals Inc. (CSE: LTHM)
(OTCQB: CHELF) (FSE: 1QB0) ("
Champion Electric
" or the "
Company
") reports that it has
completed its
previously announced gravity program
on the western portion of the Champion Electric
Lithium properties in James Bay, Quebec (the "Project"). The geophysical survey is designed to locate
the source rock of the lithium-bearing spodumene boulder (Figure 4) and thousands of spodumene
fragments (Figure 3) discovered in initial till sampling at the west end of the Property. The data has been
received and is being processed.
The Company is also pleased to report that it has received the required drill permit and started
preparations for the upcoming maiden drill program at the Project. The drill contract has been signed,
and the Company is already in the process of flagging the roads for the drill pad locations.
The crews will be mobilized shortly, and Champion Electric will provide further updates about the details
of the drill program as it progresses.
"We are very excited to be gearing up for our first drill program at the Project in James Bay. Our team
will utilize the results from our multidisciplinary field work, including mapping, rock sampling, LiDAR,
gravity, and till sampling, to guide the drill bit,"
said Jonathan Buick, President and CEO.
"We are
watching the growing drilling successes of our neighbour Patriot Battery Metals and previous lithium
discovery by our other neighbour to the west Winsome Resources and are eager to start our own drilling
efforts, now that we have a better understanding of the subsurface and emerging target at the Project."
As a reminder, the Company's lithium properties cover the northern extension of the Lac Guyer
Greenstone Belt which hosts neighbouring Patriot Battery Metals' Corvette and
Winsome Resources'
Cancet advanced project
s in the prolific James Bay region of Quebec
(Figure 2).
Figure 1: Till sampling locations and preliminary spodumene counts over geology and
topography
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8681/200339_69e7d3ea84f57a8a_001full.jpg
Figure 2: Champion Electric Lithium Project location map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8681/200339_69e7d3ea84f57a8a_002full.jpg
Figure 3: Grains of spodumene in till sample fraction 0.25 - 0.50mm from the Western prospect
(courtesy of Overburden Drilling Management)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8681/200339_69e7d3ea84f57a8a_003full.jpg
Figure 4: Fist-sized angular spodumene boulders retrieved from a till sample at the
Western prospect (courtesy of IOS Services Geoscientifiques)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8681/200339_69e7d3ea84f57a8a_004full.jpg
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.
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: (905) 688-9115
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 the prospectivity of its projects for
lithium, cobalt and other metals. 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. Exploration results by third-parties in the vicinity of the
Company's projects are not indicative of mineralization at the Company's projects.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/200339