Ophir Confirms Spodumene Pegmatite at Radis, Samples 2.33% Li2O in Outcrop
Ophir Confirms Spodumene Pegmatite at
Radis, Samples 2.33% Li2O in Outcrop
Vancouver, British Columbia--(Newsfile Corp. - June 29, 2023) -
Ophir Gold Corp.
(TSXV: OPHR)
(OTCQB: KPZIF) (FSE: 80M)
("
Ophir
" or the "
Company
")
is pleased to announce that it has
confirmed multiple spodumene bearing pegmatite outcrops on its Radis Lithium Property (the
"Property"), located in the Eeyou Istchee James Bay, Quebec. The Property is located approximately 70
km east-northeast of Wemindji and proximal to the all-season Billy-Diamond Highway and hydro-power
line infrastructure in the region.
Highlights
Confirmation of historically mapped "Lithium Pegmatite"
(newly termed 'Chou Showing')
returned three (3) outcrop samples of
2.33%, 1.68 % and
1.17%, Li
2
O
Newly discovered spodumene pegmatite
, the 'Navet Showing',
in the area historically
described as tourmaline pegmatite with one (1) outcrop sample assaying
1.26% Li
2
O
Two (2) additional Lithium-Cesium-Tantalum ("LCT") pegmatite outcrops discovered
(newly termed 'Courgette Showing') proximal to Navet Showing, assaying 867 ppm and 227 ppm
Ta
2
O
5
Shawn Wescott, Company CEO comments:
"We are off to an incredible start with only 1.5 days spent
on the Property before activities were forced to be paused due to regional forest fires. Ophir now has
two (2) confirmed spodumene-bearing pegmatite outcrops proving the potential at Radis. The vast
majority of the Property remains unexplored for its lithium potential and we feel that we have just
barely scratched the surface from this initial phase of exploration. We look forward to getting back on
the ground when conditions allow to aggressively follow-up on these discoveries."
The 2023 exploration program began on June 2
nd
and extended for just 1.5 days before being paused
due to regional forest fires at the request of the ministry (
see news release dated June 5, 2023
). While
on site, field crews targeted the historically documented lithium/spodumene pegmatite outcrop
occurrences identified from data compilation. Over this 1.5 day period, a total of eleven (11) samples
were collected from ten (10) outcrops and one (1) boulder. Of these samples, four (4) returned values
>1.0% Li
2
O up to a peak value of 2.33% Li
2
O (Table 1, Figure 1). The results
confirm the presence of
spodumene pegmatite on the Property at two (2) locations - the Chou Showing (2.33% Li
2
O)
and Navet Showing (1.26% Li
2
O), separated by approximately 2.1 km.
Additionally, approximately 500 m along trend of the Navet Showing, towards the Chou Showing, two (2)
Lithium-Cesium-Tantalum ("LCT") pegmatite outcrops (the Courgette Showing) were discovered.
Although poorly mineralized in lithium, both samples returned high-grade tantalum (227 ppm and 867
ppm Ta
2
O
5
, respectively). This discovery further strengthens the potential of the trend between the Navet
and Chou showings, and highlights the presence of a sizable LCT pegmatite system in the area. As a
LCT pegmatite with nominal lithium content, may be immediately proximal to a LCT pegmatite with
significant lithium content, the presence of these two (2) outcrops is significant.
Due to the work stoppage, the field team was not able to properly map the pegmatite outcrops
discovered, nor complete a significant evaluation of the area surrounding the Chou and Navet showings.
The area in
between and extensions along strike, including the 300 ft x 70 ft potential spodumene zone
identified from historical data compilation (
see news release dated March 14, 2023
), remain to be fully
evaluated. The Company will aggressively follow-up on these initial results as soon as conditions permit
access, as well as continue to carry-out its wider lithium pegmatite exploration program as planned
across the Property.
Table 1: Assays for grab samples collected from the Radis Property over the 1.5 day program to date
Rock Type
Sample Type
Li
2
O (%)
Ta
2
O
5
(ppm)
Showing
Pegmatite
Outcrop
2.33
98
Chou
Pegmatite
Outcrop
1.68
364
Chou
Pegmatite
Outcrop
1.26
100
Navet
Pegmatite
Subcrop
1.17
154
Chou
Pegmatite
Outcrop
0.00
867
Courgette
Pegmatite
Outcrop
0.00
227
Courgette
Pegmatite
Outcrop
0.01
211
Chou
Pegmatite
Outcrop
0.01
87
Navet
The two (2) confirmed spodumene pegmatite showings (Navet and Chou) on the Radis Property are
along geological strike of the roughly 8-10 km discontinuous pegmatite outcrop trend present on the
adjacent Mia Property, which is host to the Mia Li-1 (2.65% Li
2
O), Mia Li-2 (2.27% Li
2
O), and Carte
1879 (1.65% Li
2
O) lithium occurrences.
The 2023 prospecting work has confirmed that the lithium
mineralization continues along trend onto the Radis Property
, with only a small portion of the
target area evaluated.
Management cautions that past results or discoveries on adjacent properties (i.e. Mia) may not
necessarily be indicative to the presence of mineralization on the Company's properties (i.e. Radis).
Quality Assurace / Quality Control
All samples were collected in the fieldusing a hammer, chisel and/or a battery operated diamond bladed
angle grinder. Locations were obtained using a handheld GPS or tablet with samples placed in pre-
labelled sample bags. Metal tags with the sample numbers and flagging tape were left at each sample
location. Samples were securely transported by field staff to SGS Canada's laboratory in in Val D'Or,
QC for standard sample preperaration (code PRP89) which includes drying at 105°C, cursh to 75%
passing 2mm, riffle split 250 g, and pulverize 85% passing 75 microns. The pulps were then shipped to
SGS Canada's laboratory in Burnaby, BC where they were subsegquently analyzed for multi-element
(including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (code GE_ICM91A50). The
Company has relied on the internal lab QAQC for the surface sample analysis. SGS Canada is
independent of the Company.
Management cautions that prospecting surface rock samples and associated assays, as discussed
herein, are selective by nature and represent a point location, and therefore may not necessarily be fully
representative of the mineralized horizon sampled.
Figure 1: 2023 Radis Property prospecting results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6338/171662_f8903207a4e9cbe1_001full.jpg
Figure 2: Navet Showing outcrop (left) and spodumene mineralization from grab sample which assayed
1.26% Li2O (right)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6338/171662_ophirfig2.jpg
Figure 3: Chou Showing outcrop with three samples that returned >1.17% to 2.33% Li
2
O
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6338/171662_f8903207a4e9cbe1_008full.jpg
Qualified Person
The technical content of this news release has been reviewed and approved by Nathan Schmidt, P.
Geo., Senior Geologist for Dahrouge Geological Consulting Ltd., and a Qualified Person under NI 43-
101 on standards of disclosure for mineral projects, who has prepared and reviewed the content of this
press release.
Mr. Schmidt has verified all scientific and technical data disclosed in this news release including the
sampling and QA/QC results, and certified analytical data underlying the technical information disclosed.
Mr. Schmidt noted no errors or omissions during the data verification process. The Company and Mr.
Schmidt do not recognize any factors of sampling or recovery that could materially affect the accuracy or
reliability of the assay data disclosed in this news release.
About the Radis Lithium Property
In December 2022, the Company entered into an option agreement to earn 100% interest in the Radis
Property. The Radis Property consists of 152 claims totalling 7,850.3 hectares and is situated within a
volcano-sedimentary sequence (i.e., a g greenstone belt) belonging to the Yasinski group. The
greenstone belt over the Property contains at least one known lithium pegmatite and is considered highly
prospective for additional lithium pegmatites, hosting a tight regional fold which may provide favourable
zones of dilation for pegmatite emplacement.
About the Company
Ophir Gold Corp. is a diversified exploration company focused on the exploration and development of
the past producing Breccia Gold Property located in Lemhi County, Idaho. The Company has an option
to earn a 100% interest in the Property over a three-year period from Canagold Resources Ltd. (formerly
Canarc Resource Corp.) and DG Resource Management Ltd.
The Company also has an option to earn a 100% interest in the Radis Lithium Property over a three-year
period from Eastmain Resources Inc., a wholly owned subsidiary of Fury Gold Mines Limited.
On behalf of the Board of Directors
"Shawn Westcott"
Ophir Gold Corp.
For further information, please contact:
Shawn Westcott, CEO
Phone 1 (604) 365 6681
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Note
The information contained herein contains "forward-looking statements" within the meaning of applicable
securities legislation. Forward-looking statements relate to information that is based on assumptions of
management, forecasts of future results, and estimates of amounts not yet determinable and include
statements in this press release related to the exploration and discovery potential of the Property,
interpretation of exploration results, and the Company's future exploration plans with respect to the
Property. Any statements that express predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance are not statements of historical fact and may be "forward-
looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which
could cause actual events or results to differ from those reflected in the forward-looking statements,
including, without limitation: risk related to the failure to obtain adequate financing on a timely basis and
on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks
associated with mining and exploration; risks related to the maintenance of stock exchange listings;
risks related to environmental regulation and liability; the potential for delays in exploration or
development activities or the completion of technical reports including feasibility studies; the uncertainty
of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and
continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates
and the potential for unexpected costs and expenses; results of preliminary economic assessments,
prefeasibility and feasibility studies, and the possibility that future exploration, development or mining
results will not be consistent with the Company's expectations; risks related to commodity price
fluctuations; and other risks and uncertainties related to the Company's prospects, properties and
business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and
uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary
materially from those described in forward-looking statements. Investors are cautioned against
attributing undue certainty to forward-looking statements. These forward-looking statements are made
as of the date hereof and the Company does not assume any obligation to update or revise them to
reflect new events or circumstances, except in accordance with applicable securities laws. Actual events
or results could differ materially from the Company's expectations or projections.
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