COMET REPORTS RESULTS FROM TROILUS EAST EXPLORATION PROGRAM Identifies three highly prospective geological wide spaced gold-in-till anomalies
COMET REPORTS RESULTS FROM TROILUS
EAST EXPLORATION PROGRAM
Identifies three highly prospective geological wide spaced gold-in-till anomalies
ROUYN-NORANDA, QC
,
Nov. 13, 2024
/CNW/ - Comet Lithium Corporation (TSXV: CLIC) (FSE:
8QY) ("
Comet Lithium
" or the "
Corporation
") is pleased to announce the results of its large-scale
surface exploration program conducted at the Corporation's Troilus East Property ("
Troilus East
Property
"), located in the
Chibougamau
region of Québec.
"We're excited by the potential we're seeing at Troilus East. The summer exploration program
successfully identified promising targets on wide line spacing, laying the groundwork for more
focused and dense sampling in future phases," commented
Vincent Metcalfe
, President & CEO.
"These anomalies are situated along a highly prospective geological and structural trend, and we're
eager to build on these findings as we advance exploration at the Troilus East Property."
Exploration Program Highlights:
Three gold-in-till anomalies identified along interpreted geophysical structure, on trend
with the Parker intrusion contact
(Figure 2)
Cluster of outcrop rock samples ranging from 0.055 g/t to 0.224 g/t (Figure 3)
Troilus East 2024 Exploration Program
The 2024 exploration program at the Troilus East Property included detailed glacial till geochemical
surveys and prospecting efforts targeting gold, copper, and lithium mineral systems. The exploration
activities were carried out
between August 16 and August 29, 2024
.
The till sampling program focused on both regional and in-fill sampling:
Coverage:
~9,000 hectares, with 500-metre line spacing for regional sampling.
Till Sample
Collection:
873 samples, including approximately 623 regional and approximately
250 in-fill fine fraction till samples, which provided enhanced coverage across the Troilus East
Property.
A geological mapping and prospecting crew conducted up-ice programs to trace the sources of
previously identified gold, copper, and lithium anomalies. The exploration team focused on locating
and sampling mineralized boulders and outcrops that could help define future drill targets.
Rock Sample Collection:
142 samples were collected from boulders and outcrops.
The exploration program's primary goals were to establish a systematic till sampling grid, refine the
search area for potential bedrock sources of gold, copper, and lithium, and progress toward defining
drill targets. To support this effort, the Corporation engaged Dahrouge Geological Consulting Ltd. to
enhance its surface exploration team. This exploration initiative aimed to unlock the Troilus East
Property's full potential and position the Corporation for future discoveries in this underexplored
area.
The exploration program resulted in identifying three (3) discrete gold-in-till anomalies along the
interpreted geophysical structure on trend with the Parker Intrusion contact (Figure 2). The mid-
section anomaly also corresponds to the gold-in-till anomaly identified during the 2020 till program
(Figure 2). These regional targets are to be followed up with infill till sampling, and additional boulder
and outcrops prospecting. Pending positive results from the future infill till sampling, the Corporation
would anticipate conducting Induced Polarization surveys and identifying potential drilling targets.
A cluster of outcrop samples identified gold anomalies ranging from 0.055 g/t to 0.224 g/t
(Figure 3). Two of these samples are in a foliated basalt with rusty quartz veins and the other one,
grading at 0.224 g/t, is in a gossanous gabbro. These samples are along the same trend as the
gold-in-till anomaly and could be near the source of the gold-in-till anomaly down ice from these
outcrops.
Figure 1: Troilus East Property located near multiple major gold and lithium deposits (3) (CNW
Group/Comet Lithium Corporation)
Figure 2: Map of Troilus East target area showing regional till sampling geochemical results (CNW
Group/Comet Lithium Corporation)
Figure 3: Troilus East 2024 Prospecting Program Results (CNW Group/Comet Lithium Corporation)
Marketing Activities:
We invite investors to visit our website to keep up to date with Comet Lithium's marketing activities,
including conferences that our team will be attending and/or exhibiting.
121
London
|
London, United Kingdom
|
November 14-15, 2024
Swiss Mining Institute
|
Zurich, Switzerland
|
March 18-19, 2025
Documents & Figures
Troilus East Maps, Images and Figures
Cautionary statements
Grab samples are selective by nature and may not be representative of mineralized zones.
QAQC
A Quality Assurance / Quality Control protocol following industry best practices was incorporated
into the sampling program.
All till and rock samples were collected under the supervision of Comet Lithium and Dahrouge
Geological Consulting employees. All samples were logged and photographed on site while being
collected. Samples were then bagged, and blanks and certified reference materials were inserted at
regular intervals. Groups of samples were placed in large bags, sealed with numbered tags in order
to maintain a chain-of-custody, and shipped to SGS laboratory in
Val d'Or
, Québec.
Approximately one kilogram of till material was collected from each sample site and shipped to SGS
Laboratory in
Val d'Or
, Québec for preparation. Till samples were analyzed at SGS Laboratory in
Burnaby, British Columbia
for multi-element using multi-acid (four acid) followed by an ICP OES
finishes under SGS codes GE_ICP40Q12 & GE_IMS40Q12, as well as for Au under code
GE_FAI30V5.
Approximately one kilogram of rock material was collected from each sample site and shipped to
SGS Laboratory in
Val d'Or
, Québec for preparation. Rock samples were analyzed at SGS
Laboratory in
Burnaby, British Columbia
for multi-element using sodium peroxide fusion and ICP-
AES/ICP-MS finishes under SGS codes GE_ICP91A50 & GE_IMS91A50, as well as for Au under
code GE_FAA30V5.
Qualified Person
Vincent Cardin-Tremblay
, P. Geo (ogq #1386, PGO #3347), registered in the Provinces of Québec,
and
Ontario
, Vice President Exploration for Comet Lithium, is the Corporation'squalified 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 Dahrouge Geological Consulting Ltd.
Dahrouge Geological Consulting Ltd. Is a global mining and mineral exploration consulting group
providing expertise in professional geological, logistical, and project management services through all
stages of the mining value chain.
Based in
Edmonton, AB
, CAN,
Montreal, QC
, CAN, and
Denver, CO
, USA, Dahrouge and its
predecessor, Halferdahl and Associates, have advised and assisted clients in identifying, exploring,
developing, and optimizing mineral projects and resources since 1971.
About Comet Lithium Corporation
Comet Lithium is a dynamic focused exploration company active in the prolific
James Bay
District of
Québec. Comet Lithium's flagship asset is its 100%-owned Liberty Property contiguous to Winsome
Resources' Adina lithium deposit, a growing high-grade lithium discovery. The second prospective
asset within Comet Lithium's portfolio of asset is the large Troilus East Property contiguous to
Troilus Gold's Troilus deposit, a large multi million-ounce gold-copper deposit, which recently
reached feasibility stage.
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 if any future drill targets will be identified
from the Troilus East 2024 exploration program, if any additional exploration program, including infill
till samplings, Induced Polarization surveys or drilling, will occur on the Troilus East Property, the
extent and the timing to conduct such exploration programs, and the results of such exploration
programs, and if any discoveries will occur on the Troilus East Property ,and if it does so, what
benefits Comet Lithium will derive from any such exploration programs or discoveries. 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, uncertainties and
assumptions described under "Financial Instruments" and "Risk and Uncertainties" in Comet Lithium's
Annual Report for the fiscal year ended
December 31, 2023
, 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 Corporation
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/November2024/13/c3427.html
%SEDAR: 00035962E
For further information:
For further information: Comet Lithium Corporation, Vincent Metcalfe,
Chairman and CEO, [email protected], +1.514.249.9960, 147 Québec Avenue (back
door), Rouyn-Noranda, Québec, J9X 6M8, Email: [email protected], Website:
CometLithium.com
CO: Comet Lithium Corporation
CNW 16:30e 13-NOV-24