Madoro Discovers Lithium-Bearing Pegmatites on First Green Property, Quebec
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WKN: A2QQ1X
Madoro Discovers Lithium-Bearing Pegmatites on First Green Property, Quebec
FOR RELEASE: September 26, 2023
VANCOUVER, British Columbia – Madoro Metals Corp. (“Madoro” or the “Company”) is pleased to announce
that a “first-pass” prospecting and sampling program on its 213 -claim, 12,325-ha First Green Lithium property
(the “Property”) has resulted in the discover y of a potential swarm of lithium -bearing pegmatite dykes. The
Property is located approximately 75km south west of Val-d’Or in the Abitibi -Témiscamingue region of Québec ,
within a rapidly emerging lithium belt where large mineral claim holdings have been assembled by Brunswick
Exploration Inc., Narrow River Resources Pty. Ltd., Sayona Québec Inc., Renforth Resources Inc., Vison Lithium
Inc. and Winsome Resources Inc. (see Figure 1).
Figure 1: First Green Lithium Property, Val d’Or Area, Quebec
A network of forest-harvesting operation roads provide good access to the Property and have helped expose many
new outcrops. The inaugural 10-day exploration program was implemented to obtain a fundamental understanding
of the geological environment underlying the Property.
A dyke swarm was discovered on the last day of field work in an area of dense moss and tree cover, so only five
(5) grab samples were collected over a 1,500m by 250m area in the central part of the Property (see Figure 2) .
Further surface work is required to better expose bedrock in this area.
Figure 2: Sample Location Map
Geochemical analyses of the five grab samples show elevated levels of lithium , as well as rubidium, cesium,
beryllium and tantalum - all good pathfinder elements. Three of the samples have K /Rb (potassium /rubidium)
ratios less than 160 and two of these have ratios less than 60, indicating that the dykes are highly fractionated and
therefore favourable for lithium mineralisation. It is rare for fractionated pegmatite dykes to have K/Rb ratios
below 160, so these initial samples from the dyke swarm are very significant.
“We are very pleased with the results of the first -pass prospecting program considering its limited scope,” stated
Dušan Berka, Madoro’s President & CEO. “This is the first time that the Property has been explored and sampled
for lithium and we are now determining next steps to follow up on these highly encouraging results.”
The Property’s proximity to the mining centr es of Malartic and Val -d’Or allows for low -cost exploration work.
Québec is a strong supporter of exploration, production, and processing of critical strategic minerals (CSM),
including lithium, and developing value -added industries such as battery and electric vehicle manufacturing. In
2021, a special program to support CSM exploration was set up. This is in addition to existing refundable tax
credits up to 38.8% for junior mineral exploration companies, and 69.4% flow-through tax savings for investors in
Quebec and 38.4% for investors from the rest of Canada.
About Madoro
Madoro (MDM | TSX Venture Exchange; MSTXF | OTC) is an emerging resource company engaged in the
evaluation, acquisition, and exploration of mineral properties in Mexico and Canada. The Company is engaged in
the exploration of three gold -silver projects in the state of Oaxaca, Mexico. The Yautepec, Magdalena and Rama
de Oro projects each consist of large epithermal systems that are highly prospective for precious metals in a
structural and geologic setting like those of nearby producing mines. Madoro also own s a 50% interest in the
Ralleau mineral property in the Urban Barry District, Lebel -sur-Quévillon area of Québec and has an option to
earn a 100% interest in the First Green Lithium Project southwest of Val-d’Or, Quebec.
For further information, investors and shareholders are invited to visit the Company’s website at
www.madorometals.com, call the office at 1 -604-681-1568, toll free at 1 -877-377-6222, or send an email to
QA/QC and Qualified Person
The scientif ic and technical information that forms the basis for parts of this press release were reviewed and
approved by John Langton, P.Geo., who is a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS,
“DUŠAN BERKA”
Dušan Berka, P. Eng., President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward -looking statements" within the meaning of Canadian securities
legislation, including statements relating to a breach of the option agreements and the Company’s legal action to
enforce its entitlement to the Rama de Oro and Magdalena projects. Although the Company believes that such
statements are reasonable based on current circumstances, it can give no assurance that such expectations will
prove to be correct. Forward -looking statements are statements that are no t historical facts, and by their nature,
refer to future events. The Company cautions that forward -looking statements are based on the beliefs, estimates
and opinions of the Company's management on the date the statements are made, and they involve a numbe r of
risks and uncertainties, including the possibility the Company may not be successful in its legal action to enforce
the performance of the option agreements.
There can be no assurance that such statements will prove to be accurate, as actual results a nd future events
could differ materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward -looking statements. The Company disclaims any intention or obligation to update or revise
any forward -looking statements, whether as a result of new information, future events or otherwise, except as
required by law or the policies of the TSX Venture Exchange. Readers are encouraged to review the Company’s
complete public disclosure record on SEDAR at www.sedar.com.