METALSLIMITED
FIRST ENERGY METALS CUTS 1.61 PERCENT LITHIUM OXIDE OVER 14 METERS IN CHANNEL SAMPLES FROM AUGUSTUS LITHIUM PROPERTY Vancouver, B.C. (April 27th, 2021) – First Energy Metals Ltd. (CSE: FE) ("First Energy" or the “Company) is pleased to announce another round of assay results from channel sampling program at its Augustus Lithium Property in Quebec, Canada. The channel samples at the Beluga Pegmatite of the Canadian Lithium Prospect cut a 32-meter-wide section with an average of 0.74% lithium oxide (Li2O) which includes 14 meters of spodumene pegmatite with 1.61 percent lithium oxide. Iron content in samples is less than one percent and there are anomalous values of other rare elements such as niobium and tantalum. Highlights of Assays (see Table 1 for details) Lithium oxide (Li2O) values are in the range of 0.02 percent (%) to 2.99% with an average of 0.74% Li2O including a section with 1.61% Li2O over 14m.
Lithium (Li) values are in the range of 90 ppm (parts per million) to 13,900 ppm (1.39%) with an average of 3,432.64 ppm, including 14m section having average of 7,471.43 ppm (0.74%).
Beryllium (Be) values are in the range of 15 ppm to 674 ppm with an average of 203.61 ppm.
Niobium (Nb) is in the range of 22.7 ppm to 328 ppm with an average of 83.16.
Tantalum (Ta) is in the range of 18.9 ppm to 385 ppm with an average of 74.38.
Iron (Fe) is in the range of 0.32% to 0.84% with an average of 0.57%.
Cesium (Cs) is in the range of 34.3 ppm to 120 ppm with an average of 83.19 ppm.
Rubidium (Rb) is in the range of 992 ppm 4,960 ppm with an average of 2,307 ppm.
The ground exploration work has been continuous since February 2021 and its purpose is to locate and confirm historical lithium pegmatite occurrences on two lithium prospects (Augustus and Canadian Lithium Prospects), to locate historical drill holes on the Property completed in 1950’s, and to support the ongoing drill program. The pegmatite outcrops are exposed using an excavator, and several historical drill hole casings were located which are useful guidelines for placing drill holes and mapping lithium pegmatites on surface. The field exploration is continuous, and more channel sampling is being carried out on the exposed outcrops. The surface channel sampling will also help in resource estimation to tie up potential lithium pegmatite zones intercepted in drill holes to the surface. Gurminder Sangha, CEO of First Energy Metals stated that, “The high-grade channel sampling results are very encouraging and reflect of the quality of lithium pegmatites on the Augustus Property. We have created certain milestones for the project moving forward which include completing 5,000 metres drilling, resource, estimation, and metallurgical testwork. The Company has laid out 2021 exploration work program according to these milestones”.
A report from Fortune Business Insights projected that the Global Lithium Battery Market for EV's is Projected to Exceed $82 Billion By 2027. The global electric vehicle battery market size was USD 71.83 billion in 2019 and is projected to reach USD 82.20 billion by 2027. The Fortune Business report continued: "Electric vehicles hold a significant emission advantage over the conventional internal combustion engine vehicles attributed to the lack of transit-related emissions and the potential to utilize and develop renewable energy resources. Furthermore, the increasing awareness regarding climate change has compelled policymakers to implement stringent fuel economy regulations and actively promote the development of electric vehicles via initiatives such as incentivizing cell manufacturing for batteries. Hence, vehicular emission concerns are anticipated to propel the adoption of EVs which would boost the growth of the market of electric vehicle battery." (https://www.prnewswire.com/news-releases/global-lithium-battery-market-for-evs-projected-to-exceed-82-billion-by-2027-301231936.html) Each channel sample from this work represents one meter long, 5 cm wide and 3-5 cm deep cut in bedrock. The samples were bagged and tagged using best practices and were delivered to Activation Laboratories (“ACTLABS”), Ancaster, Ontario for sample preparation and analyses using laboratories code Ultratrace 7 as summarized below. ACTLABS is an independent commercial, accredited ISO Certified Laboratory.
Code Ultratrace 7 – Peroxide Fusion – ICP and ICP/MS Samples are fused with sodium peroxide in a Zirconium crucible. The fused sample is acidified with concentrated nitric and hydrochloric acids. The resulting solutions are diluted and then measured by ICP-OES and ICP-MS. All metals are solubilized.
ICP-MS
Fused samples are diluted and analyzed by Agilent 7900 ICP-MS. Calibration is performed using five synthetic calibration standards. A set of (10-20) fused certified reference material is run with every batch of samples for calibration and quality control. Fused duplicates are run every 10 samples.
ICP-OES
Samples are analyzed with a minimum of 10 certified reference materials for the required analytes, all prepared by sodium peroxide fusion. Every 10th sample is prepared and analyzed in duplicate; a blank is prepared every 30 samples and analyzed. Samples are analyzed using a Varian 735ES ICP and internal standards are used as part of the standard operating procedure. Source: https://actlabs.com/geochemistry/lithogeochemistry-and-whole-rock-analysis/peroxide-total-fusion/Afzaal Pirzada, P.Geo., Geological Consultant of the Company, and a “Qualified Person” for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About the Augustus Lithium Property
The Company owns 100% interest in Augustus Lithium Property in Landrienne & Lacorne-Townships, Quebec, Canada. The Property consists of 271 mining claims covering a total area of 14,155 hectares located approximately 40 kilometres northwest of the town of Val d’Or on map sheets 32C/05 and 32D08. The newly acquired Property claims are spread in several claim blocks optioned in 2021 from different vendors. The Company has prepared a well thought out work plan on the property which includes diamond drilling, metallurgical testwork to produce battery grade lithium carbonate, and resource estimation. To date, the Company has compiled historical drill hole data on the Property for 74 historical dill holes with a cumulative drilling of 12,123.14 m, out which 6,024 m drilling was completed on the Property during 1950s. Several drill hole results indicated intersections over 1% lithium oxide. All this data will help in the current exploratory drill program and building a data base for NI 43-101 resource estimation”. About First Energy Metals Limited.
First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the technology metals, precious metal, and base metal sector.
The company's strategy is to: Acquire and advance projects through prospecting and early-stage exploration; Source joint venture partners to finance future exploration and project development; Create shareholder value through exploration success.
First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
"Gurminder Sangha" Gurminder Sangha Chief Executive Officer & Director For further information, please contact the Company at: [email protected] or (604) 375-6005 Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-looking Information
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company’s information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to obtain required approvals. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. Table 1: Sample assays highlights Analyte Symbol Sample width Ba Be Cs Fe Li Li2O Mn Nb Rb Ta Unit Symbol meter ppm ppm ppm % ppm % ppm ppm ppm ppm Detection Limit 0.1 0.05 0.01 2.4 0.4 0.2 Analysis Method FUS-MS-Na2O2 Beluga Channel South End B95644 88.9 0.45 0.04 74.3 2640 39.2 B95628 0.52 0.05 58.5 3020 38.5 B95629 81.4 0.62 0.06 57.1 2990 23.7 B95630 55.1 0.72 0.07 65.5 1490 B95631 60.2 0.48 2080 0.45 84.4 1510 66.7 B95632 75.3 0.43 0.05 78.5 2150 46.9 B95633 34.3 0.47 0.03 1190 88.6 1020 31.9 B95634 59.2 0.5 0.16 65.1 1690 45.9 B95635 60.4 0.49 2880 0.62 81.8 1610 86.8 B95636 79.7 0.5 5070 1.09 33.4 2130 B95637 42.3 0.78 13900 2.99 2690 143.4 B95638 86.9 0.47 3540 0.76 55.8 2250 50.8 B95639 61.1 0.62 7200 1.55 75.7 1410 70.3 B95640 94.8 0.52 3400 0.73 38.4 3070 30.8 B95641 64.8 0.71 8870 1.91 176.2 1590 B95642 0.58 6060 1.30 328.4 2700 B95643 55.3 0.76 11100 2.39 74.2 1400 80.4 B95667 79.6 0.64 8800 1.89 69.6 2430 72.1 B95668 0.74 8420 1.81 55.7 2070 42.8 B95669 67.2 0.84 10900 2.34 1170 77.1 1440 80.4 B95670 57.9 0.71 7500 1.61 1280 93.3 B95671 88.5 0.64 6960 1.50 101.7 2200 Includes 14 m 15.57 213.21 81.04 0.64 7471.43 1.61 838.71 100.67 1898.00 111.34 B95672 88.4 0.75 0.07 47.8 2990 18.9 B95673 0.67 0.08 65.8 4160 28.5 B95674 51.7 0.46 0.03 1270 62.2 1590 39.3 B95675 45.7 0.51 0.19 1340 61.3 1030 42.6 B95676 75.8 0.39 1580 0.34 2210 53.5 B95677 53.7 0.58 0.06 96.7 1070 70.7 B95678 0.34 0.04 19.6 4780 13.4 B95679 0.32 0.02 22.7 4960 16.5 B95680 0.48 0.04 105.7 3840 95.4 B95681 0.56 0.05 98.5 3110 82.3 B95682 0.45 0.04 118.7 3310 Total / Average 32.00 15.15 203.61 83.19 0.57 3,432.64 0.74 730.36 83.16 2,307.03 74.38 Beluga Channel North End Note: A standard conversion factor of 2.15 was used to report Li to Li2O values