Metal Energy Details Drill Plans for Lithium Brine Potential at SourceRock, Drilling Planned for Next Week
Metal Energy Details Drill Plans for Lithium
Brine Potential at SourceRock, Drilling
Planned for Next Week
Toronto, Ontario--(Newsfile Corp. - January 3, 2024) - Metal Energy Corp. (TSXV: MERG) (OTCQB:
MEEEF) (the "
Company
" or "
Metal Energy
") is pleased to provide a detailed update for the
Company's inaugural drill program at the SourceRock lithium brine project ("
SourceRock
" or the
"
Project
") near Thunder Bay, Ontario, scheduled to begin in early January.
For an in-depth perspective on SourceRock and our plans, please watch this video from CEO James
Sykes:
SourceRock's Drill Program Update
"We are excited to start our first drill program exploring for lithium brines on SourceRock in the coming
days. If our thesis is correct, SourceRock could be a significant project of merit in the global lithium
supply chain. SourceRock is hosted within an ancient sedimentary basin with all the criteria for
discovering Ontario's first lithium brines. Historic drilling on the Project from multiple companies
exploring for commodities other than lithium reported salty waters, dolomitic sediments, and interstitial to
bedded gypsum, clays, and halites, which are all globally recognized characteristics frequently related to
the presence of lithium brines," commented James Sykes, CEO of Metal Energy.
SourceRock Exploration Plans
SourceRock is a drill-ready project with an exploration permit from the Ontario Ministry of Mines for up to
20 drill pads.
Historic drilling and geophysical data have identified saline brine drill targets on the
Project. However, the brines have never been tested for lithium or other elements.
The Company
remains engaged with local Indigenous groups, communities, and stakeholders and anticipates a drill
program to commence shortly in January 2024.
About the SourceRock Li Brine Project
SourceRock is highly prospective for lithium ("
Li
") brines in the Thunder Bay-Nipigon area of
northwestern Ontario. The Project is exceptionally large, covering 913 square kilometres within an area
measuring approximately 10 to 20 km wide by 95 km long (
Figure 1
), a size equivalent to the world's
second largest lithium producing jurisdiction, Chile's Salar de Atacama's Central Salt Belt.
SourceRock encompasses 91,477 hectares within the Proterozoic Sibley sedimentary basin, Thunder
Bay-Nipigon area, Ontario. The Project has excellent access to infrastructure and capacity that has
supported previous exploration programs and mine development, including year-round highway, railroad,
and seaport access, with power and natural gas lines crossing the Project.
For the latest videos from Metal Energy and other Ore Group companies, subscribe to our YouTube
channel:
youtube.com/@theoregroup
About Metal Energy Corp.
Metal Energy is a battery metal exploration company with two projects in politically stable Canadian
jurisdictions; Manibridge (Ni-Cu-Co-PGE) in Manitoba, and SourceRock (Li-Na-K) in Ontario. The
Manibridge Project is 85% owned by Metal Energy and 15% owned by Mistango River Resources Inc.
(CSE: MIS). SourceRock is subject to earn-in agreement where the Company can acquire 100%
exploration rights to the Project.
For further information, please contact:
Metal Energy Corp.
MERG on the TSXV
www.metalenergy.ca
James Sykes, CEO
306-221-8717
Reader Advisory
Certain information set forth in this news release contains forward-looking statements or information
("
forward-looking statements
"), including details about the business of the Company. By their
nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are
beyond the Company's control, including the impact of general economic conditions, industry
conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks,
competition from other industry participants, stock market volatility. Although the Company believes
that the expectations in its forward-looking statements are reasonable, its forward-looking statements
have been based on factors and assumptions concerning future events which may prove to be
inaccurate. Those factors and assumptions are based upon currently available information. Such
statements are subject to known and unknown risks, uncertainties and other factors that could
influence actual results or events and cause actual results or events to differ materially from those
stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned
not to place undue reliance on the forward-looking statements, as no assurance can be provided as to
future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other
factors that could affect actual results are discussed in our public disclosure documents available at
www.sedarplus.ca
including the Filing Statement dated November 15, 2021. Furthermore, the forward-
looking statements contained in this document are made as of the date of this document and, except
as required by applicable law, the Company does not undertake any obligation to publicly update or to
revise any of the included forward-looking statements, whether as a result of new information, future
events or otherwise. The forward-looking statements contained in this document are expressly
qualified by this cautionary statement.
Neither the TSX Venture Exchange Inc. 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.
FIGURE 1 – SourceRock project location map
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To view the source version of this press release, please visit
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