Vision Lithium Acquires New Lithium Property IN Quebec
VISION LITHIUM ACQUIRES NEW LITHIUM
PROPERTY IN QUEBEC
VAL-D'OR, QC
,
March 8, 2022
/CNW Telbec/ - Vision Lithium Inc. (TSXV: VLI) (OTCQB: ABEPF)
(FSE: 1AJ2) (the "
Company
" or "
Vision Lithium
") is pleased to announce the arm's length
acquisition (the "
Transaction
") of a 100% undivided interest in 40 contiguous mining claims in the
province of
Quebec, Canada
, which, together with an additional 31 claims staked by the Company,
will be collectively referred to as the Decelles property (the "
Property
"). The Transaction was
completed pursuant to the terms and conditions of a definitive property purchase agreement
("
Purchase Agreement
") entered into between the Company, as purchaser, and Michèle Richard
and Gabriel Béland, as vendors. Pursuant to the Purchase Agreement, Vision Lithium will pay to the
vendors aggregate cash consideration of
$10,000
, issue a total of 250,000 common shares of the
Company (the "
Shares
"), and will grant the vendors a 2% net smelter return royalty on the claims
comprising the Property acquired from the vendors, one-half of which may be repurchased by the
Company for
$250,000
(the "
NSR Royalty
").
The claims acquired from the vendors cover 2,315.5 hectares (23 km
2
) and, together with the claims
staked by the Company, the Property comprises a total of 71 claims covering 4,109.7 hectares
(41km
2
). Two additional claims staked by the Company have not yet been granted. The Property is
located approximately 55 km south of
Val-d'Or, Quebec
and 75 km south-east of the Company's
Cadillac Lithium property (
Figure 1
). The Property is easily accessible year-round by way of well-
maintained roads. Property prospecting in 2021 suggests the presence of numerous pegmatitic
dikes. No historical exploration for lithium is recorded.
Figure 1 – Vision Lithium Property Portfolio – Location of Decelles and Cadillac Lithium Projects
located South and West of Val-d’Or (CNW Group/Vision Lithium Inc.)
Yves Rougerie
, President & CEO commented, "The Decelles claims are an interesting addition to
our growing portfolio of lithium properties. The Property is located south of
Val d'Or
along well
maintained secondary roads, ensuring easy access for logistics, materials and qualified manpower.
Since our acquisition of the 332-claim Cadillac property, almost 1,300 new claims have been staked
by third parties to the East, South and West of our property. The Decelles claims are located at the
eastern end of this recent staking frenzy. The whole area is underlain by the
Pontiac
sediments
which are intruded by a wide variety of intrusives. These suites of intrusives are the likely sources of
the numerous pegmatites. Differentiating lithium, or LCT dikes, is the job at hand. The Decelles
property itself is host to numerous large pegmatitic dikes. No previous exploration for lithium is
recorded in the area. We plan to explore the Property starting by prospecting, sampling and
analyzing as many pegmatitic outcrops as possible after the thaw. However, a property-wide close-
spaced high-resolution airborne magnetic survey (MAG) will be completed in the month ahead."
The Transaction remains subject to the approval of the TSX Venture Exchange (the "
TSXV
").
The scientific and technical information in this release has been reviewed and approved by
Yves
Rougerie
, Geologist, President and CEO of the Company. Mr. Rougerie is a "qualified person" as
defined in NI 43–101.
About Vision Lithium Inc.
Vision Lithium Inc. is a junior exploration company focused on exploring and developing high quality
mineral assets including lithium and copper in
Canada
. The Company is led by skilled and qualified
mineral exploration experts and business professionals with a deep understanding of the battery
materials market, which is driven by lithium-ion batteries. Vision Lithium is committed to discovering
new, world-class assets and bringing these assets to production, starting with its Godslith lithium
property located in
Manitoba
; the Cadillac lithium property; the Sirmac lithium property and the Dôme
Lemieux
porphyry/skarn copper-zinc property, both located in
Quebec
; and its skarn and breccia
polymetallic
Red Brook
and Benjamin properties in
Northern New Brunswick
.
For further information on the Company, please visit our website at
www.visionlithium.com
or contact
us at
.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS
DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news
release includes certain "forward-looking statements" under applicable Canadian securities
legislation. Forward-looking statements include, but are not limited to, statements with respect to:
potential mineralization, the Company's plans for further drilling and exploration, the Company's
ability to obtain all required approvals to complete the Transaction, the long-term prospects of the
lithium market, and the business and operations of the Company upon completion of the proposed
Transaction. Forward-looking statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known and unknown risks,
uncertainties, and other factors which may cause the actual results and future events to differ
materially from those expressed or implied by such forward-looking statements. Such risks and
other factors include, but are not limited to: the historical estimates may turn out to be inaccurate;
additional drilling and exploration may lead to a determination that there is no potentially viable mine
plan for the Property; general business, economic, competitive, political and social uncertainties;
delay or failure to receive board, shareholder or regulatory approvals; and the ability of the
Company to execute and achieve its business objectives. There can be no assurance that the
forward-looking statements will prove to be accurate, as actual results and 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.
SOURCE
Vision Lithium Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/March2022/08/c9473.html
%SEDAR: 00003760E
For further information:
For additional information regarding the Transaction, please contact:
Victor Cantore, Executive Chairman, Tel: 514-831-3809, Email: [email protected]; Yves
Rougerie, President and Chief Executive Officer, Tel: 819-316-0474, Email:
CO: Vision Lithium Inc.
CNW 06:30e 08-MAR-22