Comet Lithium Receives Drilling Permit and Lidar Survey Results at Liberty
COMET LITHIUM RECEIVES DRILLING
PERMIT AND LIDAR SURVEY RESULTS AT
LIBERTY
ROUYN-NORANDA, QC
,
Oct. 10, 2023
/CNW/ - Comet Lithium Corporation (TSXV:
CLIC) (
FRANKFURT
: 8QY) ("
Comet Lithium"
or the
"Company"
) is pleased to announce that it
has received the drilling permit that was submitted on
Sept 20, 2023
. The Company also announces
that it has received the results of the LIDAR survey and now has approval to begin the inaugural
heliborne drill program on its 100%-owned Liberty property located in
James Bay
, Québec.
The Liberty property is located adjacent to Winsome Resources Adina Lithium project where
Winsome has recently discovered a 1.6 kilometres lithium bearing pegmatite system trending
eastward (see Winsome news dated
January 24, 2023
). Comet Lithium wants to highlight a possible
structural connection between the Winsome Adina project and the Liberty property.
Comet Lithium is actively following the activities on the neighbouring Winsome Resource's Adina
project. According to a drilling update on
September 4, 2023
, Winsome had reported a position for
DDH AD-23-045 collared approximately 700 metres west of the Liberty property limit. The Lithium
results that Winsome released included 1.26% LiO2 over 15 metres from 47.4 to 62.4 metres.
(ASX: WR1 Winsome Resources announcement 3
rd
April 2023
).
LiDAR SURVEY HIGHLIGHTS:
The LIDAR (Light Detection and Ranging) survey was produced by XEOS Aerial Imagery and Lidar
Services
September 12, 2023
. The objective was to obtain a ground image that ignores the
vegetation masking effect to facilitate the interpretation of structures possibly related to pegmatite
emplacement.
The point cloud survey generated a point density of 0.45 metre at ground level, the final resolution
produced after the treatment is 0.5 metre. This data is consistent but not referred at altitude due to
lack of ground surveying. Resulting files used included different classification to differentiate water
surface, ground, hard ground, low vegetation and canopy. The survey showed the smooth modeling
of the glacial sediment blanket in most areas of the property. These details reinforce the preliminary
structural interpretation built from satellite imagery and magnetic survey.
The southern half of the survey was done over the Trieste Formation, which is composed mainly of
amphibolitized volcanic rocks. Clear east-west magnetic contrast following unit's orientation is cut by
north-east breaks apparent on the Lidar model. Based on field observations, the proximity of this
topographical feature is also the focus of different episodes of pegmatite veining and late tectonic
granitic intrusion hosted in amphibolite*.
* Geological terms such are granite or pegmatite are not evidence of spodumene, the main lithium silicate in rocks.
Both the magnetic and LIDAR surveys identified a well-defined magnetic contrast with a surface
expression in the northern half of the property, extending for approximately 6.5 km. It is noticeable
that the trend's orientation connects to the west with the Adina pegmatite system. The area is
entirely covered by glacial glaciofluvial sediments.
Mr.
Mansoor Jan
, Comet Lithium's Interim CEO and President, stated: "We are pleased to achieve
two important milestones to assist in the planning and execution of Comet Lithium's inaugural drilling
program at our Liberty property. We are confident that the interpretation work completed so far is
allowing us to better understand the continuity of pegmatites and structural orientation inside the
Liberty property."
COMET LITHIUM RECEIVES DRILLING PERMIT AND& LIDAR SURVEY RESULTS AT LIBERTY
(CNW Group/Comet Lithium Corp.)
Q
u
alified Person
Martin Demers
, P. Geo (ogq #770, APEGNB L5980, PGO #3785), registered in the Provinces of
Québec,
New-Brunswick
, and
Ontario
a consultant to Comet Lithium, is a qualified person
under
National Instrument 43–101
- Standards of Disclosure for Mineral Projects.
He has reviewed the
technical contents of this news release and has approved the disclosure of the technical information
contained herein.
About Comet Lithium Corporation
Comet Lithium is a dynamic lithium-focused exploration company active in the prolific
James Bay
District of
Quebec
. Comet Lithium's flagship asset is its 100%-owned Liberty Property contiguous to
Winsome Resources' Adina deposit, a growing high-grade discovery. Comet Lithium is advancing
Liberty to first-ever drilling.
Forward-Looking Statements
This news release contains statements that may constitute "forward-looking information" within the
meaning of applicable Canadian securities legislation. Forward-looking information may include,
among others, statements regarding the future plans, costs, objectives or performance of Comet
Lithium, or the assumptions underlying any of the foregoing. In this news release, words such as
"may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate"
and similar words and the negative form thereof are used to identify forward-looking statements.
Forward-looking statements should not be read as guarantees of future performance or results, and
will not necessarily be accurate indications of whether, or the times at or by which, such future
performance will be achieved. No assurance can be given that any events anticipated by the
forward-looking information will transpire or occur, including the exploration programs, the results
therefor and development (including results from the ground samples collected on the Liberty
property, completion and results from any geophysics program, the drill program and any future
exploration programs on he Liberty property, or if it does so, what benefits Comet Lithium will
derive from the Liberty property and any such exploration programs. Forward-looking information is
based on information available at the time and/or management's good-faith belief with respect to
future events and are subject to known or unknown risks, uncertainties, assumptions and other
unpredictable factors, many of which are beyond Comet Lithium's control. These risks, uncertainties
and assumptions include, but are not limited to the risks relating to the capital market conditions, risk
that the Company might not be able to obtain the capital resources necessary to complete a drill
program or any exploration program on the Liberty property, as well those risks, uncertainties and
assumptions described under "Financial Instruments" and "Risk and Uncertainties in Comet Lithium's
Annual Report for the fiscal year ended
December 31, 2022
, a copy of which is available on
SEDAR+ at
www.sedarplus.ca
, and could cause actual events or results to differ materially from
those projected in any forward-looking statements. Comet Lithium does not intend, nor does it
undertake any obligation, to update or revise any forward-looking information contained in this news
release to reflect subsequent information, events or circumstances or otherwise, except if required
by applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
the release
.
SOURCE
Comet Lithium Corp.
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For further information:
Comet Lithium Corporation: Mansoor Jan, Interim President & CEO
147
Québec Avenue
Rouyn-Noranda, Québec, J9X 6M8, Email: [email protected], Website:
cometlithium.com; MarketSmart Communications Inc.: Adrian Sydenham, Toll-free: 1-877-261-4466,
Email: [email protected]
CO: Comet Lithium Corp.
CNW 08:30e 10-OCT-23