Technical Confirmation of Lithium Opportunities in Canada and Teels Marsh, Nevada
HeliosX Lithium & Technologies Corp.
announced listing on the OTCQB Markets and
Technical Confirmation of Lithium
Opportunities in Canada and Teels Marsh,
Nevada
VANCOUVER, BC
,
March 7, 2022
/CNW/ - HeliosX Lithium & Technologies Corp. ("
HeliosX
")
(TSXV: HX) (OTCQB: HXLTF) (FSE: C2U0) is pleased to report that the company's common shares
have commenced trading on the OTCQB Markets on
March 4, 2022
, quoted under the symbol
HXLTF.
The OTCQB, operated by OTC Markets Group Inc., is designed for developing and entrepreneurial
companies in
the United States
and abroad. Companies must be current in their financial reporting,
and undergo an annual verification and management certification process, including meeting a
minimum bid price and other financial conditions. With more compliance and quality standards, the
OTCQB provides investors improved visibility to enhance trading decisions. The OTCQB is
recognized by the U.S. Securities and Exchange Commission as an established public market
providing public information for analysis and value of securities.
"HeliosX having a listing on the OTCQB is important to our shareholders and interested investors as
it provides greater visibility within the investment community, resulting in enhancing our liquidity and
increasing our access to institutional and retail investors", said
Brian Findlay
, President of HeliosX.
Technical Confirmation of Lithium Opportunities in
Canada
(
Fox Creek
) and Teels Marsh,
Nevada
HeliosX engaged Dahrouge Geological Consulting Ltd. to provide a National Instrument 43-101
geological review, authored by
John Gorham
, P.Geol, of HeliosX' Canadian assets as well as Teels
Marsh,
Nevada
. The purpose of the NI 43-101 level of geological review at this stage was to provide
HeliosX management confidence in moving forward with the exploration programs in each
jurisdiction. The NI 43-101 was not meant to provide a resource estimate, but an independent
detailed geological review only. Both reports will be posted to the website for investors to review.
Major take-away on the Teels Marsh was the recommendation to continue to move forward with
exploration work. This recommendation is based on sufficient information to date indicating the
region's potential for lithium brine. The proposal is to first drill to 500 meters to test the upper units
of the geological play and subsequently continue to drill down to a depth of 2,300 meters. The
reason for the two-phase approach was to better identify expected drilling challenges in the first 150
meters, and a staged approach would identify the drilling risks earlier.
The interpretation and conclusion for the Canadian properties were, "that significant potential exists
for the discovery of lithium brines, capable of economic development, in reefal carbonates of the
Devonian Beaverhill Lake and Woodbend Groups, as well as other potential aquifers including the
Granite Wash." Overall the author states that the
Fox Creek
property "is to be a property of merit".
John Gorham
, has certified both reports as a Senior Geologist with Dahrouge Geological Consulting
Ltd. and has over 45 years of experience. The author did not conduct a field visit on the property
and utilized the technical information made available by HeliosX and publicly available data.
John
Gorham
is independent of the issuer of the report and is a Qualified Person for the purposes of
National Instrument 43-101.
About HeliosX
HeliosX is an integrated lithium exploration company, incorporating the latest in direct lithium
extraction ("
DLE
") technologies, to unlock potential commercial opportunities in
Alberta (Canada)
,
Nevada (USA
) and Jujuy (
Argentina
). Having over 560,000 lithium brine acres across three
prospective lithium jurisdictions provides shareholders with potential exposure to multiple lithium brine
play types. The company has selected specific DLE technologies which it believes will maximize
potential lithium opportunities in each operational jurisdiction and continues to move forward with
technical modeling and information gathering to better delineate the prospective lithium resources.
www.heliosx.ca
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies
of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Notice on Forward Looking Information
Certain statements and information herein, including all statements that are not historical facts,
contain forward-looking statements and forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements or information include but are not
limited to statements or information with respect to the integration of the businesses of HeliosX and
ongoing performance. Often, but not always, forward-looking statements or information can be
identified by the use of words such as "estimate", "project", "belief", "anticipate", "intend", "expect",
"plan", "predict", "may" or "should" and the negative of these words or such variations thereon or
comparable terminology are intended to identify forward-looking statements and information.
With respect to forward-looking statements and information contained herein, HeliosX has made
numerous assumptions including among other things, assumptions about general business and
economic conditions of the Company and the market in which it operates. The foregoing list of
assumptions is not exhaustive.
Although management of HeliosX believe that the assumptions made and the expectations
represented by such statements or information are reasonable, there can be no assurance that
forward-looking statements or information herein will prove to be accurate. Forward-looking
statements and information by their nature are based on assumptions and involve known and
unknown risks, uncertainties and other factors which may cause actual results, performance or
achievements, or industry results, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements or information. These
factors include, but are not limited to: risks associated with the business of HeliosX; business and
economic conditions in the lithium industry generally; changes in commodity prices; changes in
interest and currency exchange rates; government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and unanticipated events related to health,
safety and environmental matters); changes in general economic conditions or conditions in the
financial markets; changes in laws; risks related to the direct and indirect impact of COVID-19
including, but not limited to, its impact on general economic conditions, the ability to obtain
financing as required; and other risk factors as detailed from time to time. HeliosX does not
undertake to update any forward-looking information, except in accordance with applicable
securities laws.
Not for distribution to U.S. Newswire Services or for dissemination in
the United States
. Any failure
to comply with this restriction may constitute a violation of U.S. Securities laws.
SOURCE
HeliosX Lithium & Technologies Corp
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http://www.newswire.ca/en/releases/archive/March2022/07/c3391.html
%SEDAR: 00007593E
For further information:
Brian Findlay- President, Christopher Brown, P.Eng - CEO, Telephone:
(403) 975-1996, Email: [email protected]
CO: HeliosX Lithium & Technologies Corp
CNW 05:01e 07-MAR-22