Champion Electric Metals Reports First Lithium Drill Intersections from Its Property in James Bay, Quebec
Champion Electric Metals Reports First
Lithium Drill Intersections from Its Property in
James Bay, Quebec
Toronto, Ontario--(Newsfile Corp. - May 14, 2024) - Champion Electric Metals Inc. (CSE:
LTHM) (OTCQB: CHELF) (FSE: 1QB0) ("
Champion Electric
" or the "
Company
") is pleased to report
that it has intersected lithium in its
maiden exploration drill program
on the Western Prospect at the
Lithium Property in James Bay, Quebec (the "Property").
Drill hole EIQ24-007 intersected
10.0 metres (m) at 0.42% Li
2
O
, including
3.0 m at 0.62% Li
2
O, 2.0 m
at 0.50% Li
2
O and 2.0 m at 0.54% Li
2
O
. Drill hole EIQ24-008 intersected
1.85 m at 0.56% Li
2
O
(see
Figure 1, Tables 1 and 2). These drill intersections are from the Western Prospect on a high-priority
pegmatite target directly up-ice from the
previously reported spodumene grains in till discovery
.
Jonathan Buick, President and CEO, commented
:
"Discovering a lithium bearing pegmatite in our
maiden drill program is a fantastic achievement. We believe we have intersected the edge of a
mineralised system which may extend to the NE for some distance. Our upcoming field program will
pick up immediately to the NE of the mineralised pegmatite, as the spring thaw prevented drill access
in this direction. We are still in the early stages of exploration on our vast property, but we have now
established a successful exploration workflow that we intend to apply over the whole property."
The lithium bearing intervals were also anomalous in the pathfinder elements tantalum (Ta), cesium (Cs),
niobium (Nb), and rubidium (Rb) (Table 1).
The spodumene crystals vary from light to medium green in colour and are up to 7 centimetres in length.
Other associated minerals include quartz, albite, muscovite, white feldspar, orange feldspar and, less
frequently, garnet.
The drill holes intersected a combination of mafic volcanic rocks, magnetite-rich iron formation and
tonalite. The preliminary interpretation is that the pegmatite dyke intersected is near flat lying and
subcrops beneath the glacial till at a vertical depth of approximately 5 metres (Figure 2). There is
potential to extend these drill intersections to the northeast where outcropping pegmatites with
anomalous Cs and K/Rb occur. The Company's technical team has used mapping, sampling, and
geophysics to identify two parallel corridors of pegmatite stretching for more than 5 kilometres (Figure
3). There are numerous outcrops and till samples demonstrating that the pegmatites along the corridor
are fractionated with chemistry favorable for more lithium mineralisation. As exploration moves along
these corridors, the team will be looking for indications of multiple parallel or stacked dykes of
mineralised pegmatite and/or down dip continuation from this initial shallow discovery.
Table 1: 2024 Drill Intersections
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Table 2: Drill Hole Locations
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Figure 1: Location map of the 2024 drill holes (EIQ24-007/008 highlighted)
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Figure 2: Cross section of EIQ24-007 and EIQ24-008
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Figure 3: Exploration potential along strike
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About the Project
The Champion Electric Lithium Property is close to the Trans-Taiga Road and covers the northern
extension of the Lac Guyer Greenstone Belt, which hosts neighbouring Patriot Battery Metals' Corvette
and
Winsome Resources' Cancet advanced project
s in the prolific James Bay region of Quebec (Figure
4).
Figure 4: Champion Electric Lithium Project location map
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QA/QC
The NQ drill core was transported by truck from the drill site to the core logging facility at the Mirage
camp by the drilling company Forage Vortex. All drill core was logged, photographed and the pegmatite
intervals tagged for sampling. The core samples were cut in half with a diamond core saw at 1.0 m
intervals to ensure representativity. Each sample interval consists of one half of the cut NQ drill core.
Blanks and certified reference materials for lithium were inserted every 25 samples. Each sample was
bagged with a numbered tag and groups of samples were placed in larger rice bags and sealed to
maintain a chain of custody. All sample preparation and analytical work was performed by Activation
Laboratories in Val D'or, Québec. All results passed the QA/QC screening at the lab and all the inserted
standards and blanks returned results that were within acceptable limits.
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. All aspects of the
drilling program were supervised by the Qualified Person.
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 "CHELF", 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.sedarplus.ca
or the Company's
corporate website at
www.champem.com
.
For further information, please contact:
Investor Relations and Communications
Phone: (647) 249-9298
Email:
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 applicable securities laws.
The Projects are at an early stage of exploration, and the Company cautions that the qualified
persons who have reviewed and approved this news release have not verified scientific or technical
information produced by third parties.
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