Critical Elements and Lomiko Metals identify Bourier project lithium targets and report discoveries using GoldSpot Discoveries’ Artificial Intelligence methods GoldSpot Discoveries Corp.’s proprietary approach of Artificial Intelligence (AI) and
NEWS RELEASE
Critical Elements and Lomiko Metals identify Bourier project lithium targets
and report discoveries using GoldSpot Discoveries’ Artificial Intelligence
methods
GoldSpot Discoveries Corp.’s proprietary approach of Artificial Intelligence (AI) and
geological interpretation highlight lithium potenti al at Bourier claims within the Nemiscau
greenstone belt;
A total of 15 high to moderate prospectivity lithi um targets have been identified;
Preliminary Summer 2021 field exploration results have revealed the discovery of five (5)
new sectors of spodumene-rich (Li) pegmatites, high lighting the potential of the Bourier
project;
Critical Elements and Lomiko Metals (Option Agreem ent, see press release dated April
27, 2021 ) boast a unique and favorable land position for li thium exploration within the
Nemiscau Belt.
September 14, 2021 - M ONTREAL , QUEBEC – Critical Elements Lithium Corporation (the
“Company ” or “Critical Elements ”) (TSX-V: CRE) (US OTCQX: CRECF) (FSE: F12) and Lomiko
Metals (TSX-V: LMR.V) mandated GoldSpot Discoveries Corp. (TSX-V: SPOT) (OTCQX:
SPOFF) (“GoldSpot“) to conduct a remote targeting p rocess for lithium, on the Bourier claims
within the Nemiscau belt (Figure 1). GoldSpot uses cutting edge technology and geoscientific
expertise to mitigate exploration risks and make mineral discoveries.
Methodology
The study hinged on digital extraction from an exha ustive collection of compiled data, including
assessment files, government data and academic stud ies. This dataset provided outcrop/sample
description, bedrock geology, geochemical analyses, and geophysical surveys. Original data was
cleaned and combined to create a comprehensive data set for geological interpretation and
machine learning processes.
Geological Interpretation
The compilation of discrete outcrop observations a llowed a reliable update to existing
geologic maps, resulting in a refined, lithium expl oration-oriented pegmatite map. A total
of 99 pegmatite bodies were added to the current ge ological map, highlighting previously
unknown potential for economic lithium mineralization.
An up-to-date structural interpretation was create d based on a high-resolution
aeromagnetic survey commissioned by Critical Elemen ts. This survey revealed
structurally complex patterns, including large-scale folds and major ENE-trending ductile
fault zones.
Lithium Target Generation
GoldSpot generated lithium targets using a knowledg e-based approach with Artificial Intelligence
(AI) data-driven methods.
Process: The AI data analysis trains machine learn ing algorithms to predict the presence
of lithium using all variables (features), both num eric and interpreted on a 10 x 10 m grid
cell datacube. Once the model performs to a satisfactory level, results produced include:
1) a series of zones with relatively high probability of containing lithium;
2) a ranking of feature importance for each input feature.
Performance: The best prediction model for lithium at Bourier was obtained using the
Extended Euclidean Algorithm for which performance metric was at 75% precision. The
updated lithology and structural interpretation wer e the dominant contributors to the
targeting model.
Figure 1: Location of Critical Elements’ projects, Eeyou Istchee, James Bay, Québec. Critical Elements and Lomiko
Metals’ Bourier project on the Northeastern part of the Nemiscau belt.
Results: A total of 15 lithium exploration targets were identified (Figure 2), reducing the
area of investigation to approximately 9.5% of the total claim holding. The newly
interpreted pegmatite outcrops largely controlled the distribution of the lithium targets.
Figure 2: Lithium targets and location of new spodu menerich pegmatites within Critical
Elements and Lomiko Metals’ Bourier claims.
Field Work and Preliminary Results
In preparation of field work, GoldSpot provided a m ap of probable outcrop zones, resulting from
the AI analysis on high-resolution satellite imager y. The machine learning-assisted outcrop
detection allows for time- and cost-efficient field exploration.
An exploration crew composed of Critical Elements’ and GoldSpot’s geoscientists conducted a
20-day prospecting program at the Bourier project, with focus on the high- to moderate-
confidence lithium targets generated by GoldSpot. T he highlights of this program include the
discovery of five (5) new sectors of spodumene-rich (Li) pegmatite (laboratory analysis results are
pending; Figure 2). These discoveries were made within, or the extension, of GoldSpot’s targets.
The main discovery, located about 11 km NE of the B ourier Lake, consists of muscovite and
garnet pegmatites showing 1-5% of centimetric-size spodumene crystals (Figure 3), over an
outcropping area of 40 x 30 m. Additional spodumene -rich pegmatites were sporadically found
within a 1 km trend from the main discovery, highli ghting the potential for wider mineralization
system. Four other spodumene-rich pegmatites zones were found elsewhere on the property.
Figure 3: Main discovery. Spodumenerich pegmatite, with aureole of Limica.
Jean-Sébastien Lavallée, Chief Executive Officer of the Company, noted, “We are confident that
continued exploration, benefitting from the deploym ent of GoldSpot’s AI analysis and our joint
geoscientific expertise, will continue to reveal th e considerable potential of the Bourier property.
We anticipate that this approach may yield similar results on the rest of the Company’s
exploration project portfolio, working towards our aspiration to be a large, responsible supplier of
lithium. Our primary focus remains on the advancement of the Rose lithium-tantalum project, our
first.”
Qualified Person
The technical information in this press release has been prepared in accordance with the
Canadian regulatory requirements set out in NI 43-1 01 -- Standards of Disclosure for Mineral
Projects, and reviewed and approved by Ludovic Bigo t, professional geologist (OGQ – P.GEO
No. 01655), a qualified person as defined by NI 43-101 guidelines.
ABOUT CRITICAL ELEMENTS LITHIUM CORPORATION
Critical Elements Lithium Corporation aspires to become a large, responsible supplier of lithium to
the flourishing electric vehicle and energy storage system industries. To this end, Critical
Elements Lithium is advancing the wholly owned, hig h purity Rose lithium project in Quebec.
Rose is the Company’s first lithium project to be a dvanced within a highly prospective land
portfolio of over 700 square kilometers. In 2017, t he Company completed a robust feasibility
study on Rose Phase 1 for the production of high qu ality spodumene concentrate. The internal
rate of return for the Project is estimated at 34.9% after tax, with a net present value estimated at
C$726 million at an 8% discount rate. Capital cost parameters were confirmed in 2019 by Primero
Group in the context of a Guaranteed Maximum Price under an Early Contractor Involvement
agreement, as a prelude to an Engineering, Procurem ent and Construction process. Detailed
engineering for Phase I is expected to conclude thi s year as the Company plans to deliver
technical studies for Phase II; the conversion of s podumene concentrate to high quality lithium
hydroxide. In the Company’s view, Quebec is strategically well-positioned for US and EU markets
and boasts exceptional infrastructure including a l ow-cost, low-carbon power grid featuring 93%
hydroelectricity. The project has received approval from the Federal Minister of Environment and
Climate Change on the recommendation of the Joint A ssessment Committee, comprised of
representatives from the Impact Assessment Agency o f Canada and the Cree Nation
Government; we await similar approval under the Que bec environmental assessment process
near-term. The Company also has a strong, formalized relationship with the Cree Nation.
ABOUT GOLD SPOT DISCOVERIES CORP .
GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPO FF) is a technology services company
in mineral exploration. GoldSpot is a leading team of expert scientists who merge geoscience and
data science to deliver bespoke solutions that tran sform the mineral discovery process. In the
race to make discoveries, GoldSpot produces Smart T argets and advanced geological modelling
that saves times, reduces costs and provides accurate results.
FOR FURTHER INFORMATION , PLEASE CONTACT :
Jean-Sébastien Lavallée, P.Geo.
Chief Executive Officer
819-354-5146
www.cecorp.ca
Cautionary statement concerning forward-looking statements
This news release contains “forward-looking informa tion” within the meaning of Canadian Securities
legislation. Generally, forward-looking information can be identified by the use of forward-looking
terminology such as “scheduled”, “anticipates”, “ex pects” or “does not expect”, “is expected”, “schedu led”,
“targeted”, or “believes”, or variations of such wo rds and phrases or statements that certain actions, events
or results “may”, “could”, “would”, “might” or “wil l be taken”, “occur” or “be achieved”. Forward-look ing
information contained herein include, without limitation, statements relating to the completion of the Project’s
approval, the completion of the provincial permitti ng process, mineral reserve estimates, mineral reso urce
estimates, realization of mineral reserve and resou rce estimates, capital and operating costs estimate s, the
timing and amount of future production, costs of production, success of mining operations, the ranking of the
project in terms of cash cost and production, permi tting, economic return estimates, power and storage
facilities, life of mine, social, community and environmental impacts, lithium and tantalum markets and sales
prices, off-take agreements and purchasers for the Company’s products, environmental assessment and
permitting, securing sufficient financing on accept able terms, opportunities for short and long term
optimization of the Project, and continued positive discussions and relationships with local communities and
stakeholders. Forward-looking information is based on assumptions management believes to be reasonable
at the time such statements are made. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward-looking information.
Although Critical Elements has attempted to identify important factors that could cause actual results to differ
materially from those contained in forward-looking information, there may be other factors that cause results
not to be as anticipated, estimated or intended. Fa ctors that may cause actual results to differ mater ially
from expected results described in forward-looking information include, but are not limited to: the completion
of the Project’s approval, the completion of the pr ovincial permitting process, Critical Elements’ abi lity to
secure sufficient financing to advance and complete the Project, uncertainties associated with the
Company’s resource and reserve estimates, uncertain ties regarding global supply and demand for lithium
and tantalum and market and sales prices, uncertain ties associated with securing off-take agreements a nd
customer contracts, uncertainties with respect to s ocial, community and environmental impacts,
uncertainties with respect to optimization opportunities for the Project, as well as those risk factors set out in
the Company’s year-end Management Discussion and An alysis dated August 31, 2020, the Company’s
Annual Information Form dated August 3, 2021, and o ther disclosure documents available under the
Company’s SEDAR profile. Forward-looking informatio n contained herein is made as of the date of this
news release and Critical Elements disclaims any ob ligation to update any forward-looking information,
whether as a result of new information, future even ts or results or otherwise, except as required by
applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is described in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.