Champion Electric Identifies Critical Metal Ultramafic-Hosted Nickel Sulphide Targets on its Lithium Project in James Bay, Quebec
Champion Electric Identifies Critical Metal Ultramafic-Hosted
Nickel Sulphide Targets on its Lithium Project in James Bay,
Quebec
Toronto, ON – July 26, 2023 – Champion Electric Metals Inc. (CSE: LTHM; OTCQB: GLDRF;
FSE: 1QB0) (“Champion Electric” or the "Company") is pleased to announce the interpretation
and modelling of the airborne Time-Domain Electromagnetic (EM) data collected at the beginning
of the spring 2023 exploration program at the Champion Electric Lithium Project (the “Project”)
located in the pegmatite-rich Eeyou Istchee James Bay territory of Quebec. The EM
interpretation identified three high-priority complementary critical metal EM bedrock conductors
located within mapped ultramafic rocks of the Lac Guyer greenstone belt.
“The prospective and easily accessible EM conductors offer Champion several critical metal
targets over approximately 5 km in a region renown for its nickel endowment. Our technical team
will include new nickel sulphide targets into the planned drilling later this year,” commented
President and CEO Jonathan Buick. “We continue to prioritize our lithium exploration efforts
given that this area also features numerous historical mapped pegmatites yet to be evaluated.
Despite the ongoing hiatus in field activities, we are pleased that we have been able to generate
high-quality exploration targets!”
EM Interpretation
Interpretation identified a string of three discrete mid to late-time conductive anomalies which
are interpreted as moderately to steeply NNW dipping plate-like conductors extending 450m x
160m, 190m x 260m and 240m x 530m respectively (Figure 1). The interpreted dip is consistent
with structural data available from nearby outcrops which is a strong argument that these
conductors are of likely bedrock origin and parallel to stratigraphy. The interpreted conductors
are believed to start at the base of the thin overburden (< 10m deep) and are deemed possibly
indicative of sulphide mineralisation.
The EM conductors are hosted within a mapped ultramafic unit adjacent to an iron formation
prominent in both the airborne EM and magnetics datasets. Nearby historical rock samples
(#2009050866, #2009050874 and #2009050868 in Quebec’s Ministry of Natural Resources and
Forests database) from the host ultramafic unit returned maximum geochemical values of 0.21%
Ni, 0.46% Cr2O3 and 139 ppm Co (Figure 2). Two of these samples were historically mapped as
komatiite in the government’s database, but this has not been confirmed by the Champion
Electric team yet.
The nature, geometry and distribution of the EM bedrock conductors located within a mapped
nickel-rich ultramafic horizon make them high-priority nickel sulphide targets. These new targets
will be evaluated on the ground concurrently with the planned exploration efforts for lithium-
bearing pegmatites once fieldwork resumes.
Figure 1: Airborne EM data (channel 20 – 3.30ms) and high-priority anomalies
Figure 2. High-priority EM anomalies and historical rock samples over regional geology
About the Project
The Company’s lithium properties neighbo ur Patriot Battery Metals’ Corvette and
Winsome Resources’ Cancet advanced projects in the James Bay region of Quebec
(Figure 3).
Figure 3: Champion Electric Lithium Project location map
Qualified Person
Dr. Eric Hebert, P.Geo., Senior Geological consultant, is a member (#0842) of the Ordre des
Géologues du Québec (OGQ) and a qualified person within the meaning of National Instrument
43-101, and has reviewed and approved the technical information contained in this press
release.
About Champion Electric Metals Inc.
Champion Electric is a discovery-focused exploration company that is committed to advancing
its highly prospective lithium properties in Quebec, Canada and cobalt properties in Idaho,
United States. In addition, the Company owns the Baner gold project in Idaho County and the
Champagne polymetallic project in Butte County near Arco.
The Company’s shares trade on the CSE under the trading symbol “LTHM”, on the OTCQB
under the trading symbol “GLDRF”, and on the Frankfurt Stock Exchange under the symbol
“1QB0”. Champion Electric strives to be a responsible environmental steward, stakeholder and
contributing citizen to the local communities where it operates, taking its social license seriously,
employing local community members and service providers at its operations whenever possible.
ON BEHALF OF THE BOARD OF CHAMPION ELECTRIC
“Jonathan Buick”
Jonathan Buick, President and CEO
To learn more, please visit the Company’s SEDAR profile at www.sedar.com or the Company’s
corporate website at www.champem.com.
For further information, please contact:
Investor Relations and Communications
Phone: (416) 567-9087
Email: [email protected]
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY
SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY
STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.
Cautionary Statements
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the
adequacy or accuracy of this press release. This press release may include forward-looking information within the meaning of
Canadian securities legislation, concerning the business of the Company. Forward -looking information is based on certain key
expectations and assumptions made by management of the Company, including closing of the Transactions and the prospectivity of
the Projects for lithium. Although the Company believes that the expectations and assumptions on which such forward -looking
information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the
Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are
made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking
information, whether as a result of new information, future events or results or otherwise, other than as required by applica ble
securities laws.
The Projects are at an early stage of exploration, and the Com pany cautions that the qualified persons who have reviewed and
approved this news release have not verified scientific or technical information produced by third parties.