Comet Lithium to Commence Field Program at Troilus East
COMET LITHIUM TO COMMENCE FIELD
PROGRAM AT TROILUS EAST
ROUYN-NORANDA, QC
,
Oct. 16, 2023
/CNW/ - Comet Lithium Corporation (TSXV: CLIC)
(
FRANKFURT
: 8QY) ("
Comet Lithium"
or the
"Company"
) is pleased to announce that it will be
commencing a lithium focused exploration program at the 100% owned Troilus East property,
located in Eeyou-Istchee Baie James, Québec. The past exploration program completed at Troilus
did not take lithium into consideration but it succeeded in identifying lithium anomalies. The new work
program will target these areas for pegmatite prospecting.
The Troilus property was initially explored in 2020 for gold and copper, however, upon review of the
database and results obtained from the program, five high priority target areas were identified for
Lithium potential. More importantly, all five targets follow a northeast alignment along the south-
eastern flank of the Parker granite intrusion over a strike length of about 20 kilometres. Further, the
targets generated from the historical results are based on a collection of samples that carried lithium
values up to 248 ppm.
Mansoor Jan
, Interim President and CEO of Comet Lithium states, "While Liberty is the flagship
property for Comet, we have decided that a small program at Troilus East is also worth advancing,
as it is strategically located in an emerging lithium belt which has already stimulated the interest of
major players such as Sayona Mining. We believe that we have a head start with Troilus East
considering our previous exploration on the property with initial work highlighting the presence of
lithium in the background rocks. In addition, the property is adjoining the Troilus Gold copper-gold
deposit and can benefit from an accessibility standpoint."
TROILUS EAST LITHIUM HIGHLIGHTS:
1
.
The Troilus East property has never been explored for lithium despite being located proximate
to strike and inside the same geological units as the lithium bearing pegmatites of Lac Moblan
located about 50 kilometres south of the property.
2
.
Geological mapping at Troilus East shows granitic dykes and occasional pegmatite veins
intruded in mafic rocks. This context is well known to host spodumene bearing pegmatites, the
main lithium carrier in the
James Bay
area.
3
.
95 samples among 475 surface samples across the Troilus East property, are anomalous in
lithium above 30 ppm and up to 248 ppm
. By comparison, the same range of lithium grade
was found inside 300 metres from the Moblan pegmatite system (Ref: Schmitt L., 2009.
Rapport d'exploration 2009, propriété Moblan (1331), SNRC 32J10, canton 1222 secteur de
Frotet. GM-64838, secteur de Frotet).
4
.
They are mostly composed of basalt with quartz veinlets. This initial prospecting was oriented
toward gold-copper and did not consider pegmatites as prospective targets;
meaning no
pegmatites observed in 2020 were sampled.
5
.
The five lithium target areas have been identified based on clusters of lithium values. Two of
them are located inside the Parker granite, while two others are located close to lenticular
granitic intrusion-hosted mafic terrains.
6
.
Elements such as
scandium
(Sc, up to 964 ppm), tin (Sn, up to 1,100 ppm) and
tungsten
(W,
up to 100 ppm) are present in the environment of some of the targets, showing the potential
influence of a large, possibly zoned magmatic system.
Troilus East Project & Surrounding Area – Frotet-Evans Greenstone Belt
Troilus East Project & Surrounding Area – Frotet-Evans Greenstone Belt (CNW Group/Comet
Lithium Corp.)
*Map claim information generated from:
https://gestim.mines.gouv.qc.ca/
. Troilus Gold resource information generated from:
https://www.troilusgold.com/troilus-gold-project/#geology-and-mineral-resources
TROILUS EAST LITHIUM TARGETS:
The systematic exploration approach focusing on the predetermined targets will allow Comet Lithium
to gain a better grasp on the vast lithium potential that exists on the property. This program will
become the basis to establish a larger more in-depth lithium exploration program during 2024.
Five separate target areas identified to date follow a northeast alignment along the eastern flank of
the Parker intrusion over a strike length of approximately 20 kilometres.
As part of this field program a maximum number of samples will be collected for lab analysis across
all five targets. In addition, field crew will do a comprehensive mapping and measurement of the
visible pegmatites and include channel sampling where necessary.
Target
Location
Signature
Environment
Features
Lac Diane
540370E - 5649300N
Li: 50 to 70ppm
Sc: 55 to 100ppm
Southern limit of the Parker
Pluton
Andesite, affected by calc-
silicate alteration and
metamorphism
Parker 1
542280E – 5651100N
Li: 57 to 67ppm
Internal area of the Parker
intrusion
Granite and tonalite
Mésière
551000E – 5655350N
Li: 54 to 248ppm
Spatially associated with a
mapped lenticular granitic body
Biotite alteration affecting
mafic intrusions; higher
values hosted in quartz-
feldspar vein
Dionne Fault
552075E – 5658350N
Li: 56 to 98ppm
Spatially associated with a
northeast lenticular granitic body
at the apex of the Parker Pluton
Biotite alteration in mafic
intrusions and volcanics
Gilbert Fault
556150E – 5660230N
Li: 55 to 71ppm
Sc: 65ppm
Spatially associated with east-
west Gilbert Fault
Calc-silicate alteration
with biotite in mafic
volcanics
Note: Elemental results reported were not controlled by a QA/QC program using blank and
standard material inserted in the sampling chain. These initial results were also not validated by
duplicate sampling. Assays results were produced by AGAT Laboratories.
From:
Campagne d'échantillonnage 2020-2021, projet Troilus Est. GM 72758, 2022. Demers, M.
Sigéom.mines.gouv.qc.ca.
Q
ualified 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 of the Troilus East property, or if it does so, what benefits Comet Lithium
will derive from the Troilus East property. 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 any exploration
program on the Troilus East 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 08:00e 16-OCT-23