/C O R R E C T I O N from Source -- Visible Gold Mines Inc./ In the news release, VISIBLE GOLD MINES NOW FIRMLY INSTALLED IN THE LITHIUM SPACE IN THE JAMES BAY REGION, issued 07-Dec-2022 by Visible Gold Mines Inc. over CNW, we are
/C O R R E C T I O N from Source -- Visible
Gold Mines Inc./
In the news release, VISIBLE GOLD MINES NOW FIRMLY INSTALLED IN THE LITHIUM SPACE
IN THE
JAMES BAY
REGION, issued
07-Dec-2022
by Visible Gold Mines Inc. over CNW, we are
advised by the company that the first paragraph, segment of third sentence, should read "it seized
the opportunity by acquiring 40 km2 of land" rather than "it ceased the opportunity by acquiring 40
km2 of land" as originally issued inadvertently. The complete, corrected release follows:
VISIBLE GOLD MINES NOW FIRMLY INSTALLED IN THE LITHIUM SPACE IN THE
JAMES BAY REGION
ROUYN-NORANDA, QC
,
Dec. 7, 2022
/CNW Telbec/
- Visible Gold Mines Inc.
(TSXV: VGD)
(
FRANKFURT
: 3V41) is very pleased to provide to its shareholders the latest activities in the lithium
space in the
James Bay
region of the Province of Québec. On
December 6, 2021
, one year ago,
Visible Gold Mines staked 78 claims adjacent to the Corvette project of Patriot Battery Metals. At
such time very few exploration companies were actives in this sector. Visible Gold Mines saw the
great potential of the area so it seized the opportunity by acquiring 40 km
2
of land (as close as 2.8
kilometres from the Corvette 5 major discovery) and today with Patriot's outstanding success,
Visible Gold Mines firmly believe this area will eventually turn into a lithium district and Visible Gold
Mines and its shareholders actively be part of it.
On
August 4, 2022
, Visible Gold Mines Inc. has entered into a mineral option agreement with SPOD
Lithium (see Visible Gold Mines' press release dated
August 4, 2022
), a company listed on the
Canadian Securities Exchange, pursuant to which SPOD has an option to acquire a 50-per-cent
undivided interest in the MegaLi property. SPOD has the obligation to spend 1.85M$ in exploration
on the MegaLi property.
Early in
October 2022
, the Spod engaged Japosat Satellite Mapping to provide analysis of satellite
imagery at SPOD's Megali (under option) and Lithium Grande 4 projects and SPOD announced it
was extremely encouraged by the images received from Japosat.
At the end of
October 2022
, SPOD engaged Dahrouge Geological Consulting Ltd. to carry out an
initial exploration program on SPOD's MegaLi (under option) and Lithium Grande 4 properties. The
work was mainly concentrated on the claims block portion located close to the sheared contact
between amphibolite derived from volcanic rocks and granitoid complexes. This context is a well-
documented favourable environment for the discovery of lithium-bearing pegmatites in the
James
Bay
area.
In
November 2022
, Dahrouge successfully initiated the fieldwork program. Dahrouge walked and
prospected over 46 kilometers on the MegaLi and Lithium Grande 4 properties. Many pegmatites
have been identified and 60 samples were taken from those pegmatites. The assay results (54
elements) and Dahrouge final report are expected in the coming weeks. The phase one fieldtrip lasts
six days and will resume early this spring.
Visible Gold Mines Inc.
- Figure 1 (CNW Group/Visible Gold Mines Inc.)
CARLi LITHIUM PROJECT
On
September 26, 2022
, following a technical compilation from the Natural Ressources Ministry
database, Visible Gold Mines acquired 125 mining claims covering an area of 6,400 hectares (64
km
2
) on the newly identified Wachiskw's intrusion. A recent mapping fieldwork executed by the
Government geologists on the Wachiskw's intrusion has identified many
Vieux Comptoir
pegmatites.
The foregoing mining claims are located 22 kilometres east of the Patriot's Corvette 5 project at the
contact of the Guyer formation belt and the Wachiskw's intrusion.
Visible Gold Mines Inc.
- Figure 2 (CNW Group/Visible Gold Mines Inc.)
NataLi (Lithium) - MISTUMIS BATHOLITH
Early in
December 2021
, Visible Gold Mines acquired, for its lithium and gold potential, the NataLi
property (comprised of 107 mining claims) also located in the region of the
James Bay
area in the
Province of Québec. These mining claims are located mostly in the Mistumis Batholith, a deformed
tonalite containing pegmatite pockets. The NataLi property is covering an area of 5,667 hectares (56
km
2
) of mining land package located 25 kilometres west of Critical Elements' Rose lithium tantale
deposit. The municipality of
Nemaska
is located 40 kilometres south east of the NataLi property.
Visible Gold Mines Inc.
- Figure 3 (CNW Group/Visible Gold Mines Inc.)
Qualified Person
Jeannot Theberge
, PGeo, senior geologist, and a consultant to Visible Gold Mines, is the qualified
person for Visible Gold Mines' properties under National Instrument 43-101 -
Standards of
Disclosure for Mineral Projects
, responsible for the technical contents of this news release, and has
approved the disclosure of the technical information contained herein.
About Visible Gold Mines Inc.
Visible Gold Mines is a corporation focused on gold in the prolific
Abitibi Gold Belt
and the Bay
James region in the province of Québec. The Corporation has only 33,827,039 common shares
outstanding.
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 the
release.
Website:
www.visiblegoldmines.com
SOURCE
Visible Gold Mines Inc.
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For further information:
Martin Dallaire, President and Chief Executive Officer, Telephone: 819-
762-0107, Cell: 819-763-6663, E-mail: [email protected]
CO: Visible Gold Mines Inc.
CNW 10:33e 08-DEC-22