Gaia Metals Corp. Highlights Platinum-Palladium Potential at the Corvette-FCI Property, Quebec
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Gaia Metals Corp. Highlights Platinum-Palladium Potential at the Corvette-FCI
Property, Quebec
Vancouver, February 4th, 20 20 – Gaia Metals Corp. (the “Company”) (TSX.V: GMC) (OTCQB:
RGDCF) (FSE: R9G) highlights strong potential for platinum group element (PGE) mineralization
as a result of ongoing compilation of historical data for the Company’s Corvette-FCI Property (the
“Property”), located in the James Bay Region of Quebec.
The compilation included a more focused review of the Property geology and indicates a strong
potential for Ni-Cu-PGE mineralization. A historical sample of outcrop assayed 3.10 g/t Au, 1.06
g/t Pd, 0.005 g/t Pt, 7.5 g/t Ag, 0.24% Cu, 0.19% Ni, and 411 g/t Co (Lac Long Sud Showing) (see
Figure 1 below). This unit is located at the eastern end of the more than 10 km long Maven Trend
where significant Cu-Au-Ag mineralization in outcrop was discovered during the Company’s 2019
summer exploration program, including 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag, and 3.63% Cu,
0.64 g/t Au, and 52.3 g/t Ag (see news release dated September 10 th, 2019). The h istorical
samples with PGE enrichment are interpreted to be associated w ith komatiite (ultramafic)
bodies. The Company notes that only a small portion of historical and none of the 2019 samples
were analyzed for PGEs; hence these seemingly isolated results necessitate further geochemical
analysis in future exploration programs.
The Corvette-FCI Property is situated within the Guyer Group (wacke, iron formation, komatiite,
tuffs, amphibolite) of the La Grande Greenstone Belt, a geological setting that is prospective for
numerous commodities over several different deposit types. Historically, exploration has focused
on the orogenic gold potential, and more recently, on the copper -gold-silver potential over the
more than 10 km long Maven Trend , a s well as the numerous pegmatite -hosted lithium
prospects.
The Company is further evaluating the potential for PGEs across the Property, which will include
submitting for PGE analysis , a subset of the samples collected in 2019. Several ultramafic units
have been regionally mapped across the Property; however, have seen only limited exploration
attention for PGEs. The Company intends to expand its 2020 summer program to include a more
detailed surface evaluation of the ultramafic occurrences mapped on the Property for both gold
and PGE mineralization.
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Figure 1: Regionally mapped ultramafic occurrences on the Company’s Corvette-FCI Property
PGE Market
The Platinum Group Elements (PGEs) are a group of s ix precious metals (Pt, Pd, Rh, Ru, Os, Ir)
with similar chemical and physical properties that commonly occur together in nature. The most
well-known of this group are platinum and palladium. The bulk of PGEs are mined in South Africa
and Russia, followed by Zimbabwe and Canada.
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The use of platinum and palladium in jewelry is relatively well -known; however, the metals
primary use is in automotive catalytic converters , to reduce harmful emissions produced from
combustion and hybrid vehicles. An acute lack of supply and ongoing market deficits (particularly
in palladium), coupled with the tightening of vehicle emission regulations globally (particularly in
Europe and China) , have placed sustained upward pressure on prices that is anticipated to
continue. Platinum and palladium prices are up 20+% and 80+%, respectively, over the last 12
months, and are currently trading at approximately $1,000/ oz, and $2,200/oz, respectively, with
palladium trading at all-time highs.
Further, the Company has granted 80,000 incentive stock options (the "Options") to an officer of
the Company. The Options are exercisable at $0.09 per share for a period of three years from the
date of grant. The Options have been granted under and are governed by the terms of the
Company's incentive stock option plan.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geo., Vice President of Exploration for the Company, a Permit holder
with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument
43-101, supervised the preparation of the technical information in this news release.
About Gaia Metals Corp.
Gaia Metals Corp. is a mineral exploration company focused on the acquisition and development
of mineral projects containing base and precious metals, including platinum group elements, and
lithium.
The Company’s primary assets are the wholly owned Corvette Property and the FCI Property
(held under Option from O3 Mining, a recent spin- out from Osisko Mining, for a 75% interest)
located in the James Bay Region of Quebec. The properties are contiguous and host significant
gold-silver-copper-PGE-lithium potential highlighted by the Golden Gap Prospect with grab
samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and
Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1 Pegmatite
Prospect with 2.28% Li2O over 6 m in channel.
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In addition, the Company holds the Pontax Lithium-Gold Property, QC, the Golden Silica Property,
BC, and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest,
as well as several other assets in Canada.
For further information, please contact Adrian Lamoureux, President & CEO at Tel: 778-945-2950,
E-mail: [email protected] or visit www.gaiametalscorp.com.
On Behalf of the Board of Directors,
“ADRIAN LAMOUREUX”
Adrian Lamoureux, President & CEO
Neither the 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 news
release.
Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations,
which are not historical in nature are intended to be, and are hereby identified as, “forward- looking statements”.
Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”,
“expects” and similar expressions. The Company cautions readers that forward-looking statements, including without
limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and
uncertainties that could cause actual results to differ materially from those indicated in the f orward-looking
statements.