Neuer Lithium Play - First Energy Metals mit NEWS
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2021-01-21 05:30 ET - News Release
First Energy Metals to Acquire Augustus Lithium Property in Quebec, Canada
Canada NewsWire
VANCOUVER, BC, Jan. 21, 2021
VANCOUVER, BC, Jan. 21, 2021 /CNW/ - First Energy Metals Ltd. (CSE: FE) ("First Energy" or the "Company) is pleased to announce that it has entered into an option agreement to acquire a lithium exploration property located in Landrienne & Lacorne-Townships, Quebec, Canada. The property consists of three non-contiguous claim groups representing a total area of 627.35 hectares located approximately 40 kilometres northwest of the town of Val d'Or on map sheet 32C/05. The geology and the mineralization of the Augustus property are similar to the geology and mineralization of Quebec Lithium mine located approximately 6 kilometers to the southeast of the property.
Augustus Lithium Property Highlights
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Hier in D noch relativ unbekannt, daher gute Einstiegschance meiner Meinung nach.... :-)
Related Document
Vancouver, B.C. (February 02, 2021) – First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company) is pleased to announce that it has planned Phase 1 Exploration work on its recently acquired Augustus lithium property located near Val-d’Or in Quebec, Canada. The work will commence in the second week of February and includes prospecting, mapping and sampling of known lithium prospects (Augustus and Canadian Lithium Prospects) on the Property. The scope of work is to confirm the historical surface sampling results on three known historical lithium and silver prospects, to confirm location of historical drill holes, and to develop future exploration targets on the property.
The Phase 1 work plan is based upon the compilation of historical exploratory drilling data available from the Ministry of Energy and Natural Resources Quebec. The Company has acquired data for 62 drill holes with over 10,000 metres drilling carried out on the Property since the early 1950’s. Highlights of historical exploration work on three historically known prospects are provided below and was partially reported in January 21 news release of the Company.
Augustus Lithium Prospect
The Augustus pegmatite is oriented N30°W, extending more than 850 meters along strike, and lithium mineralization is confined to the pegmatite body with an average grade of 1.12% lithium oxide (Li2O) (0.52% Li) across an average width of 7.6. meters. Its depth extension is not fully known yet, however previous drilling has intersected high-grade lithium down to 682 feet (207 m). (Source: Géologie Québec - Results of the query (gouv.qc.ca)).
The highlights of the previous drilling results include:1.69% Li2O over 9 feet (2.74m), 1.25% Li2O over 27.5 feet (8.38m), 1.07% Li2O over 20 feet (6.1m), 1.66% Li2O over 12.5 feet (3.8m), and 1.41% Li2O over 27 feet (8.23m) (Source Report GM03952).
Based on the 1955 drilling results, the continuity of lithium mineralization is established between all drill holes for over 850 meters strike length down to a depth of 207 m (682 feet) of the Augustus pegmatite body. If mineralization continuity can be proven by future drilling down to over 200 meters level as shown in historical drill hole results, a potential resource target of 4 million tonnes at 1% Li2O can be achieved.
Cautionary Statement: Investors are cautioned that the potential quantity and grade mentioned above is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The potential target is based upon historical drilling results taken from report GM03952 (April 27, 1956) and other sources from MRNF Quebec.
Canadian Lithium Prospect
The Canadian lithium prospect is a worked deposit representing a group of parallel pegmatite dykes associated with Lacorne Batholith contains aggregates of spodumene, lepidolite, quartz and feldspar accompanied by traces of beryl, clevelandite, colombo-tantalite.
Drilling at the prospect have shown low grade lithium bearing pegmatite intersections of extensive widths. A total of 14 historical drill holes are located on this prospect having drilled depths in the range of 26m to 184m and a cumulative drilling of 944m. It has been estimated that a section of 90.0 m by 30.0 m contains 5.0 to 10.0% lithium bearing spodumene. (Source Reports GM03952 and GM00744). This deposit represents a potential for low grade bulk tonnage of lithium pegmatite material.
The highlights of historical drilling program are: 0.25% Li2O over 154.1 feet including 1.25% Li2O over 13.5 feet, 0.12% Li2O over 227 feet, and 0.14% Li2O over 173.6 feet. (Source Reports GM03952 and GM00744).
Landrienne Silver Prospect
Silver mineralization occurs in quartz and carbonate veins intersecting felsic to mafic lavas and locally in massive sulphides. These volcanics belong to the Landrienne Formation. The mineralization is mainly in the form of sulphides (pyrite, chalcopyrite, pyrrhotite) disseminated in quartz and carbonate veins and also locally in the form of lenses of massive sulphides.
Historical drilling documented for this prospect comprised of 30 drill holes with over 6,000 m cumulative drilling.
Report GM 02989-B: the best results obtained from the holes drilled in 1954 are 10.3 ppm silver over 0.8 meters, 11.7 ppm silver over 0.6 meters, 8.6 ppm silver over 0.6 meters, 9.6 ppm d silver over 0.6 meters, 2000 ppm copper over 1.5 meters, 1000 ppm copper over 0.6 meters, 8.6 ppm silver over 0.6 meters. GM 28244: a drilling carried out in 1972 returned 2000 ppm of copper over 2.6 meters. GM 66408: a selected sample yielded 36.8% iron.
Cautionary Statement: Investors are cautioned that the above information is taken from the publicly available sources. The Company has not been able to independently verify the information contained. The information is not necessarily indicative of the mineralization on the Property, which is the subject of this news release. The Company will need to conduct exploration to confirm historical mineralization reported on the property and there is no guarantee that significant discovery will be made as a result of its exploration efforts. The Company is in the process of compiling exploration and geological data available on the property and surrounding area to develop an exploration work plan.
Afzaal Pirzada, P.Geo., who is a consultant of the Company, and a “Qualified Person” for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About First Energy Metals Limited.
First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a technology and precious metals mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects.
The company’s strategy is to:
Acquire and advance projects through prospecting and early-stage exploration;
Source joint venture partners to finance future exploration and project development;
Create shareholder value through exploration success.
First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
“Gurminder Sangha”
Gurminder Sangha
President & Chief Executive Officer
For further information, please contact the Company at: gsangha@firstenergymetals.com or at (604) 375-6005
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-looking Information
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company’s proposed Transaction with Mr. Fayz Yacoub; and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Company’s proposed Transaction with Mr. Fayz Yacoub may not be completed on the terms and timing currently contemplated, or at all; and other risks as more fully set out in the Company’s continuous disclosure filings at www.sedar.com.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to obtain required approvals and close the proposed Transaction with Mr. Fayz Yacoub. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
February 8, 2021
Vancouver, B.C. (February 08, 2021) – First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company) is pleased to announce that it has entered into an option agreement to acquire another lithium exploration property located in Landrienne & Lacorne-Townships, Quebec, Canada. The property consists of 15 mining claims in two non-contiguous claim groups representing a total area of 671.58 hectares located approximately 40 kilometres northwest of the town of Val d’Or on map sheet 32C/05. The newly acquired claims are located to the west and south of the Augustus Lithium Property claims which were optioned in January 2021 (see Company’s news release dated Jan 21, 2021).
Property Highlights
Of particular interest on this new acquisition is claim CDC-2196058 (Range 1 Lot 25) which hosts a part of the historical Canadian Lithium Prospect which extends to the west from the Augustus claim CDC-2427519.
The Canadian lithium prospect is a worked deposit located in Range 1 lot 25-26 in the Landrienne Township at G.P.S 284861 E - 5368288 N. The main outcrop was discovered in 1948 near the boundary line separating the Landrienne and Lacorne Townships. A group of parallel pegmatite dykes associated with Lacorne Batholith contains aggregates of spodumene, lepidolite, quartz and feldspar accompanied by traces of beryl, clevelandite, colombo-tantalite.
Historical drilling in 1955 on claim CDC-2196058 documented on the Quebec Ministry of Energy and Natural Resources (MERN) database indicate a total of 12 drill holes with a cumulative drilling 1,454 metres indicating extension of Canadian Lithium deposit to the west on this newly acquired claim. Additionally, fourteen historical drill holes documented on the Canadian Lithium Prospect located on the adjoining Augustus claim have already been reported in the Company’s news release dated February 02, 2021.
Highlights of the historical drilling results are provided below (also see Table 1):
Drilling results show several large low grade lithium pegmatite intercepts ranging in width from 5.73 meters (m) to 84.94m with lithium grades 0.11% lithium oxide (Li2O) to 0.38% Li2O.
The low-grade pegmatites are intersected by high grade spodumene bearing lithium pegmatites with grades in the range of 1.2% Li2O to 2.3% Li2O and widths in the range of 0.46m to 6.55m (Source Reports GM03952 and GM00744).
Cautionary Statement: Investors are cautioned that the above information is taken from the publicly available sources. The Company has not been able to independently verify the information contained. The information is not necessarily indicative of the mineralization on the Property, which is the subject of this news release. The Company will need to conduct exploration to confirm historical mineralization reported on the property and there is no guarantee that significant discovery will be made as a result of its exploration efforts.
Table 1: Summary of historical drill holes results (Source: Report GM03952)
Hole ID
§Depth From Depth To Total Thickness Lithium Grade
m m m Li2O %
CL-39 8.84 52.73 43.89 0.318
Including 17.62 21.7 4.08 1.2
and 30.48 30.94 0.46 2.3
CL-40 30.72 32.55 1.83 1.9
CL-41 35.42 41.15 5.73 0.11
45.84 47.55 1.71 2.25
CL-44 34.5 119.45 84.95 0.16
Including 37.18 39.16 1.98 1.24
and 80.49 81.35 0.86 1.14
and 102.65 103.32 0.67 1.22
CL-46 15 18.84 3.84 1.8
20.57 37.03 16.46 0.6
Including 30.48 37.03 6.55 1.2
38.59 74.73 36.14 0.13
Including 39.07 39.77 0.7 1.94
CL-49 95.37 119.2 23.83 0.16
Including 108.78 109.72 0.94 1.5
CL-56 105.76 120.36 14.6 0.24
Note: Reported intersections are drilled intervals and true widths have not been calculated
Gurminder Sangha, CEO of First Energy Metals stated that, “We are pleased to acquire additional lithium exploration claims in the Augustus Lithium Property area. Now the Company’s claim area completely covers the historical Canadian Lithium Prospect with 2,398 m diamond drilling performed in 26 drill holes. With a total of over 12,000 metres drilling in 74 drill holes over the entire property gives a wealth of data to make future exploration plans. We feel the new acquisition in the growing lithium market will assist with creating value for both current and prospective shareholders.
Transaction Details:
Pursuant to a property purchase agreement between the Optionor (Mr. Glenn Griesbach) and the Company, dated February 3rd, 2021 (the “Effective Date”), First Energy holds an option to acquire a 100% interest in the Property by making cash payments and common shares issuances as follows:
the Optionee making the following cash payments to the Optionor:
$15,000 to be paid on the Effective Date;
$20,000 to be paid upon the first anniversary of the Effective Date;
An additional $25,000 on or before the second anniversary of the Effective Date;
The Optionee allotting and issuing the following common shares in its capital stock to the Optionor subject to the approval of the regulatory bodies as follows:
325,000 shares issued upon the Execution of the option Agreement.
An additional 250,000 shares issued on or before the date of being one year from signing the agreement.
An additional 300,000 shares issued on or before the date of being two years from signing the agreement.
The Optionor will retain a 2.0 % NSR from any future production.
This above noted agreement is with a non-related party and there are no directors, officers or senior management in common. Closing of the Transaction is subject to obtaining all required approvals, including the CSE and including any other regulatory approval.
Afzaal Pirzada, P.Geo., who is a consultant of the Company, and a “Qualified Person” for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About First Energy Metals Limited.
First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the precious metal, base metal and industrial metals sector.
The company’s strategy is to:
Acquire and advance projects through prospecting and early-stage exploration;
Source joint venture partners to finance future exploration and project development;
Create shareholder value through exploration success.
First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
“Gurminder Sangha”
Gurminder Sangha
President & Chief Executive Officer
For further information, please contact the Company at: gsangha@firstenergymetals.com or (604) 375-6005
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-looking Information
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company’s proposed Transaction with Mr. Glenn Griesbach; and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Company’s proposed Transaction with Mr. Glenn Griesbach may not be completed on the terms and timing currently contemplated, or at all; and other risks as more fully set out in the Company’s continuous disclosure filings at www.sedar.com.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to obtain required approvals and close the proposed Transaction with Mr. Glenn Griesbach. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
February 9, 2021
Vancouver, B.C. (February 09, 2021) – First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company) announces that it has granted incentive stock options to certain directors, officers and consultants to purchase up to an aggregate of 2,640,000 common shares under the Company’s Incentive Stock Option Plan. The options will be exercisable for a period of five (5) years, at an exercise price of $0.21 per share.
The stock option grant will be subject to a four-month hold period and is subject to Canadian Securities Exchange approval.
About First Energy Metals Limited.
First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the precious metal, base metal and industrial metals sector.
The company’s strategy is to:
Acquire and advance projects through prospecting and early-stage exploration;
Source joint venture partners to finance future exploration and project development;
Create shareholder value through exploration success.
First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
“Gurminder Sangha”
Gurminder Sangha
President & Chief Executive Officer
For further information, please contact the Company at: gsangha@firstenergymetals.com or (604) 375-6005
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-looking Information
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company; and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Company’s operations may not be completed on the terms and timing currently contemplated, or at all; and other risks as more fully set out in the Company’s continuous disclosure filings at www.sedar.com.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to obtain required approvals.. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Vancouver, B.C. (February 11, 2021) – First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company) is pleased to announce a non-brokered private placement financing of up to $1,500,000 comprised of both flow-through units and non-flow through units.
The flow-through component will consist of up to 4,1666,667 (FT) units, priced at $0.24 cents per unit. Each FT unit will consist of one flow-through common share plus one warrant. Each warrant entitles the holder to purchase one non- flow through common share at a price of $0.40 cents for a 24-month period.
The non-flow-through (NFT) financing will consist of up to 2,500,000 units priced at $0.20 cents per unit. Each NFT unit will consist of one common share plus one warrant to purchase an additional common share at $0.40 cents for a 24-month period
The proceeds will be used for exploration and development of Company’s mineral properties, in particular the recently optioned Augustus Lithium Property and general working capital. One or more existing insiders may be participating in the financing as approved by independent directors. The Company is relying on an exemption from the related party requirements of MI 61-101.
EMD Financial will assist with the above noted non brokered private placement along with providing advisory services as needed.
In connection to the above noted non-brokered private placement, finder’s fees may be paid to eligible finders in accordance with the policies of the CSE consisting of a commission equal to up to 8% of the gross proceeds raised under the Offering. Closing of the proposed private placement is subject to obtaining all required approvals, including from the CSE and any other regulatory approval. The securities will be subject to a four-month hold period plus one day under applicable securities laws.
About First Energy Metals Limited.
First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the precious metal, base metal and industrial metals sector.
The company’s strategy is to:
Acquire and advance projects through prospecting and early-stage exploration;
Source joint venture partners to finance future exploration and project development;
Create shareholder value through exploration success.
First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
“Gurminder Sangha”
Gurminder Sangha
President & Chief Executive Officer
For further information, please contact the Company at: gsangha@firstenergymetals.com or (604) 375-6005
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-looking Information
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company; and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Company’s operations may not be completed on the terms and timing currently contemplated, or at all; and other risks as more fully set out in the Company’s continuous disclosure filings at www.sedar.com.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to obtain required approvals. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
hab mich mit ner kleinen Position bei 0,14 eingekauft.
Innerhalb von 3 Wochen Verdoppler. Gibt schlimmeres ^^
Ich bin positiv gestimmt was die nächsten Tage und Wochen angeht. Der Newsflow ist sehr gut und ich denke und hoffe, dass wir bald auf 1,00 CAN$ zusteuern.
Nein es gab keinerlei schlechten Nachrichten soviel ich weiss, ich denke der Rückgang ist auf den gestern allgemein schwachen Gesamtmarkt zurückzuführen. Da wurden auch die Nebenwerte teils mit nach unten gerissen. Bald sollte es wieder News geben, das dürfte dann auch den Kurs wieder beflügeln :-) Wie gesagt, man braucht oft etwas Geduld bei diesem Wert, da er -insbesondere bei uns in Deutschland- noch relativ unbekann ist. Der Kurs wird hautpsächlich in der Heimatbörse in Canada gemacht.
Vancouver, B.C. (March 05, 2021) – First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company) is pleased to announce that it has closed a non-brokered private placement for aggregate gross proceeds of $1,550,000 (the “Offering “). The Offering consisted of the sale of $960,000 flow-through units (“FT Units “) by way of issuing 4,000,000 shares at $0.24 per FT Unit and the sale of $590,000 hard dollar units (“HD Units “) by way of issuing 2,950,000 shares at $0.20 per HD Unit.
Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $0.40 for a period of two years from the issue date. A finder’s fee of 8% will be paid in connection with the above noted private placement consisting of $ 106,367.43 cash and 198,161 finder’s warrants. EMD Financial acted as advisor and finder to the transaction.
Final closing of the transaction and private placement is subject to obtaining all required approvals, including from the CSE, and any other regulatory approval. All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
First Energy intends to use the net proceeds from the offering to finance exploration work on its Augustus Lithium Property, along with general working capital purposes.
About First Energy Metals Limited.
First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the precious metal, base metal and industrial metals sector.
The company’s strategy is to:
Acquire and advance projects through prospecting and early-stage exploration.
Source joint venture partners to finance future exploration and project development.
Create shareholder value through exploration success.
First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
“Gurminder Sangha”
Gurminder Sangha
President & Chief Executive Officer
For further information, please contact the Company at: gsangha@firstenergymetals.com or (604) 375-6005
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-looking Information
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company; and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Company above noted announcement; and other risks as more fully set out in the Company’s continuous disclosure filings at www.sedar.com.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to obtain required approvals and close the above noted Transaction. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Die bevorstehende NEWS-Veröffentlichung würde auch den Kurs- und Volumenanstieg am Donnerstag erklären, da ist wohl schon vorab was durchgesickert... :-)
March 12, 2021
Vancouver, B.C. (March 12, 2021) – First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company) is pleased to announce that it has entered into an agreement, dated March 12, 2021 to acquire a 100% interest into additional mining claims located near its Augustus Lithium Property in Landrienne & Lacorne-Townships, Quebec, Canada. The newly acquired properties consist of 242 mining claims covering a total area of 12,769.13 hectares located approximately 40 kilometres northwest of the town of Val d’Or on map sheets 32C/05 and 32D08. The newly acquired property claims are spread in several claim blocks and some of the claims are located adjacent to the Augustus Lithium Property claims which were optioned in 2021 (see Company’s news release dated Jan 21, 2021 and February 8, 2021).
There is one historical lithium showing, namely “Lac La Motte NE”, in a claim block of the new property where exploration work in 2010 carried out by Candorado Operating Co. indicated anomalous values of lithium (Li) in the range of 342 ppm (0.073% lithium oxide) to 7900 ppm (1.7% lithium oxide) in grab surface samples (Source: GM65110, June 2010).
Cautionary Statement: Investors are cautioned that the above information is taken from publicly available sources, specifically from the Quebec Ministry of Energy and Mines (MERN) database. The Company has not been able to independently verify the information contained. The information is not necessarily indicative of the mineralization on the property, which is the subject of this news release. The Company will need to conduct exploration to confirm historical mineralization reported on the property and there is no guarantee that significant discovery will be made as a result of its exploration efforts.
Mr. Gurminder Sangha, CEO of First Energy Metals stated that, “We are very pleased to acquire a large claim block in a promising lithium camp within our Augustus Lithium Property area. The Company has already commenced ground exploration work consisting of prospecting, mapping, and channel sampling. The new acquisition will give the Company a chance to expand its ground exploration footprint in a larger claim block. First Energy is in the process of compiling historical exploration and geological information on the newly acquired claims and will ask its field crew to expand field exploration work to these claims.”
Transaction Details:
First Energy acquired the mining claims comprising the Property from a group of arm’s length parties pursuant to a property purchase agreement dated March 12, 2021 (the “Effective Date”). Under the agreement, First Energy will acquire its 100% interest in the Property by making cash payments of $250,000 and issuing an aggregate of 4,100,000 common shares, at a deemed issued price of $0.37, on the Effective Date. The sellers will retain a 3.0 % NSR from any future production. First Energy has the right to reduce the 3.0% NSR to a 2.0% NSR by paying $1,000,000.
The issuance of the common shares is subject to obtaining all required regulatory approvals, including that of the CSE. The common shares will be subject to a “hold” period of four months and one date for their date of issuance.
Afzaal Pirzada, P.Geo., who is a consultant of the Company, and a “Qualified Person” for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About First Energy Metals Limited.
First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the technology metals, precious metal, and base metal sector.
The company’s strategy is to:
Acquire and advance projects through prospecting and early-stage exploration;
Source joint venture partners to finance future exploration and project development;
Create shareholder value through exploration success.
First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
“Gurminder Sangha”
Gurminder Sangha
President & Chief Executive Officer
For further information, please contact the Company at: gsangha@firstenergymetals.com or (604) 375-6005
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-looking Information
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company’s proposed Transaction with respect to the claims acquisition; and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Company’s proposed Transaction with respect to the claims purchase may not be completed on the terms and timing currently contemplated, or at all; and other risks as more fully set out in the Company’s continuous disclosure filings at www.sedar.com.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to obtain required approvals and close the proposed Transaction to purchase the above noted claims.. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Vancouver, B.C. (March 16, 2021) – First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company) is pleased to announce assay results of the first round of channel sampling from the Augustus Lithium Property in Quebec, Canada. A total of eleven selected channel samples were cut out of which 9 samples were from Augustus Prospect and 2 from the Canadian Lithium Prospect. The results indicated anomalous values of lithium and other rare metals where four samples have lithium oxide (Li2O) values of over 1 percent and one sample assayed 2.8% (Li2O).
Highlights of Assays (see Table 1 for details)
Lithium (Li) values are in the range of 27 ppm (parts per million) to 13,000 ppm (1.3% Li) with an average of 3,130.64 ppm, where four samples are over 5,000 ppm lithium.
Lithium oxide (Li2O) values are in the range of 0.01 percent (%) to 2.8% Li2O with an average of 0.67% Li2O where four samples are over 1% Li2O.
Beryllium values are in the range of 48 ppm to 3,010 ppm with and average of 758.27 ppm.
Cesium is in the range of 17.8 ppm to 233 ppm with an average of 79.70 ppm.
Niobium is in the range of 30.7 ppm to 139.6 ppm with an average of 74.80 ppm.
Rubidium is in the range of 28.9 ppm to 4,530 ppm with and average of 1,757.08 ppm.
Tantalum (Ta) is in the range of 21.7 ppm to 129 ppm with an average of 63.33 ppm.
The ground exploration work has been continuous since February 2021 and its purpose is to locate and confirm historical lithium pegmatite occurrences on two lithium prospects (Augustus and Canadian Lithium Prospects), to locate historical drill holes on the Property completed in 1950’s, and to prepare for the upcoming drilling program planned for a possible start date in the third week of April 2021.The pegmatite outcrops were exposed using an excavator due to heavy cover of snow and some overburden. Several historical drill hole casings were located which will provide useful guidelines for placing future drill holes and mapping lithium pegmatites on surface. The field exploration is continuous, and more channel sampling is being carried out on the exposed outcrops. The weather is expected to warm up in the coming weeks which will help thawing of frozen ground to continue sampling.
Gurminder Sangha, CEO of First Energy Metals stated that, “First Energy’s exploration plan is progressing very well to confirm historical exploration work results on the property. The efforts of our field crew are commendable as they were able to uncover the lithium pegmatites under heavy snow cover. The fieldwork and channel sampling will continue as the weather is expected to warm up during the coming weeks. First Energy is in the process of preparing a work plan on the property which includes diamond core drilling, metallurgical testwork to see the potential to produce battery grade lithium carbonate, and resource estimation. The Company is contacting suitable contractors to secure drillers and consultants to move the project forward. First Energy has also started the drill permitting process and will provide an update on further development in all these aspects. To date, the Company has compiled historical drill hole data, completed on the Property, for 74 historical dill holes with a cumulative drilling of 12,123.14 m, out which 6,024 m drilling was completed on two lithium prospects on the property. All this data will help to develop future exploratory drill program and building a data base for NI 43-101 resource estimation”.
Each channel sample from this program represents about 30 cm long, 5 cm wide and 3-5 cm deep cut in bedrock. The samples were bagged and tagged using best practices and were delivered to Activation Laboratories (“ACTLABS”), Ancaster, Ontario for sample preparation and analyses using laboratories code Ultratrace 7 as summarized below. ACTLABS is an independent commercial, accredited ISO Certified Laboratory.
Code Ultratrace 7 – Peroxide Fusion – ICP and ICP/MS
Samples are fused with sodium peroxide in a Zirconium crucible. The fused sample is acidified with concentrated nitric and hydrochloric acids. The resulting solutions are diluted and then measured by ICP-OES and ICP-MS. All metals are solubilized.
ICP-MS
Fused samples are diluted and analyzed by Agilent 7900 ICP-MS. Calibration is performed using five synthetic calibration standards. A set of (10-20) fused certified reference material is run with every batch of samples for calibration and quality control. Fused duplicates are run every 10 samples.
ICP-OES
Samples are analyzed with a minimum of 10 certified reference materials for the required analytes, all prepared by sodium peroxide fusion. Every 10th sample is prepared and analyzed in duplicate; a blank is prepared every 30 samples and analyzed. Samples are analyzed using a Varian 735ES ICP and internal standards are used as part of the standard operating procedure. Source: https://actlabs.com/geochemistry/...k-analysis/peroxide-total-fusion/
Afzaal Pirzada, P.Geo., Geological Consultant of the Company, and a “Qualified Person” for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About the Augustus Lithium Property
The Company owns 100% interest in Augustus Lithium Property in Landrienne & Lacorne-Townships, Quebec, Canada. The Property consists of 271 mining claims covering a total area of 14,155 hectares located approximately 40 kilometres northwest of the town of Val d’Or on map sheets 32C/05 and 32D08. The newly acquired Property claims are spread in several claim blocks optioned in 2021 from different vendors. The Company has prepared a well thought out work plan on the property which includes diamond drilling, metallurgical testwork to produce battery grade lithium carbonate, and resource estimation. To date, the Company has compiled historical drill hole data on the Property for 74 historical dill holes with a cumulative drilling of 12,123.14 m, out which 6,024 m drilling was completed on the two lithium prospects on the Property. Several drill hole results indicated intersections over 1% lithium oxide. All this data will help to develop future exploratory drill program and building a data base for NI 43-101 resource estimation”.
About First Energy Metals Limited.
First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the technology metals, precious metal, and base metal sector.
The company’s strategy is to:
Acquire and advance projects through prospecting and early-stage exploration;
Source joint venture partners to finance future exploration and project development;
Create shareholder value through exploration success.
First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
“Gurminder Sangha”
Gurminder Sangha
President & Chief Executive Officer
For further information, please contact the Company at: gsangha@firstenergymetals.com or 604-375-6005.
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-looking Information
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company’s information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to obtain required approvals. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Table 1: Sample assays highlights
Analyte Symbol
Be
Bi
Cs
Li
Li2O
Mn
Nb
Rb
Ta
Unit Symbol
Location
ppm
ppm
ppm
ppm
%
ppm
ppm
ppm
ppm
Detection Limit
NAD 1983 Zone 18
3
2
0.1
3
3
2.4
0.4
0.2
Analysis Method
Pegmatite
Easting
Northing
FUS-MS-Na2O2
W1387870
Canadian Lithium
284966
5368302
361
49
89.3
715
0.15
792
109
2320
56.4
W1387871
Canadian Lithium
284967
5368304
131
32
110
85
0.02
286
30.7
4530
29.4
W1387877
Augustus
286714
5367975
185
7
62.3
6880
1.48
865
57.2
2490
35.2
W1387878
Augustus
286700
5367979
79
52
36.8
5380
1.16
898
71.9
1650
22.5
W1387879
Augustus
286713
5367974
178
34
94.2
2250
0.48
884
62
3670
35.3
W1387880
Augustus
286707
5367977
67
39
29.7
13000
2.80
1360
58
1160
21.7
W1387881
Augustus
286801
5367941
3010
248
233
666
0.14
1040
86.5
1830
105
W1387882
Augustus
286960
5367874
1220
2
60.3
131
0.03
75
78.1
28.9
125
W1387883
Augustus
286885
5367950
3120
270
108
183
0.04
259
139.6
611
129
W1387884
Augustus
286883
5367948
239
43
35.3
5120
1.10
1330
88.8
449
89.4
W1387885
Augustus
286884
5367949
48
31
17.8
27
0.01
718
41
589
47.7
Average
785.27
73.36
79.70
3130.64
0.67
773.36
74.80
1757.08
63.33
Note: A standard conversion factor of 2.153 was used to report Li to Li2O values
Related Document
Vancouver, B.C. (March 23, 2021) - First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company) is pleased to announce the appointment of Jodie Gibson to the Company’s board of directors.
Mr. Gibson is an exploration geologist with over 14 years mineral exploration experience throughout the North American Cordillera from Alaska to Mexico; including syngenetic and epigenetic precious and base metal systems. He was the Project Manager of the Underworld Resources Inc. exploration team that discovered and defined the Golden Saddle and Arc deposits. These assets were subsequently sold to Kinross in 2010 for $139 million. As Vice President Exploration for White Gold Corp, he oversaw over $30 million in exploration activities over a three-year period with highlights including expansion of the Golden Saddle and Arc deposits and five new discoveries across the White Gold district: including the high-grade Vertigo discovery on the JP Ross property. He is currently Vice President of Exploration for K2 Gold Corp. and overseeing their projects in California and the Yukon.
Jodie was recognized as the 2020 Yukon Prospector of the Year. Mr. Gibson holds a Bachelor of Science Degree and a Master of Science Degree from Indiana State University and is a member of the Association of Professional Engineers and Geoscientists of British Columbia. Mr. Gibson is a US citizen with Canadian Permanent Resident status.
In addition, the Company is pleased to announce it has added Lee Beasley to its advisory board. Mr. Beasley is an exploration Geologist with experience in planning, executing, and supervising exploration activities for regional prospecting, geochemical sampling, mapping, drill planning, drill rig management, and project generation. Mr. Beasley managed and oversaw the drilling program at Piedmont Lithium’s North Carolina project for three years. He planned and supervised 350+ drill holes and over 50,000 meters, ultimately building the resource to over 25 million tons and a 30-year mine life for the project. . Mr. Beasley holds a Bachelor of Science Degree and a Master of Science Degree from Auburn University and is a Certified Professional Geologist through American Institute of Professional Geologist. Lee’s previous work experience includes Senior Project Geologist at Piedmont Lithium and numerous junior and mid major mining companies.
Mr. Lyle McLennan has resigned from the board of directors, the Company would like to thank Mr. McLennan for his service as a board member and wish him success in his future endeavors.
About the Augustus Lithium Property
The Company owns 100% interest in Augustus Lithium Property in Landrienne & Lacorne-Townships, Quebec, Canada. The Property consists of 271 mining claims covering a total area of 14,155 hectares located approximately 40 kilometres northwest of the town of Val d’Or on map sheets 32C/05 and 32D08. The newly acquired Property claims are spread in several claim blocks optioned in 2021 from different vendors. The Company has prepared a well thought out work plan on the property which includes diamond drilling, metallurgical testwork to produce battery grade lithium carbonate, and resource estimation. To date, the Company has compiled historical drill hole data on the Property for 74 historical dill holes with a cumulative drilling of 12,123.14 m, out which 6,024 m drilling was completed on the two lithium prospects on the Property. Several drill hole results indicated intersections over 1% lithium oxide. All this data will help to develop future exploratory drill program and building a data base for NI 43-101 resource estimation”.
About First Energy Metals Limited.
First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the technology metals, precious metal, and base metal sector.
The company’s strategy is to:
Acquire and advance projects through prospecting and early-stage exploration;
Source joint venture partners to finance future exploration and project development;
Create shareholder value through exploration success.
First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
“Gurminder Sangha”
Gurminder Sangha
President & Chief Executive Officer
For further information, please contact the Company at: gsangha@firstenergymetals.com or 604-375-6005.
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-looking Information
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company’s information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to obtain required approvals. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
April 1, 2021
Vancouver, B.C. (April 1, 2021) – First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company) is pleased to announce another round of assay results from channel sampling program at its Augustus Lithium Property in Quebec, Canada. The channel samples intersected 4.5 meters of spodumene pegmatite with 1.04 percent lithium oxide. The Company is also pleased to share the news that its field exploration team has discovered another wide lithium pegmatite zone (the “Beluga Pegmatite”) with surface exposures mapped to a width of 50-80 metres and an east-west strike length of over 215 metres. Little historical exploration work has been documented for this spodumene pegmatite dyke/sill which will be a main target of the Company’s ongoing exploration program of prospecting, mapping, trenching and channel sampling.
Highlights of Assays (see Table 1 for details)
Lithium (Li) values are in the range of 51 ppm (parts per million) to 6,290 ppm.
Lithium oxide (Li2O) values are in the range of 0.01 percent (%) to 1.35% Li2O with an intersection of 1.04% Li2O over 4.5 m.
Beryllium values are in the range of 36 ppm to 334 ppm, barium is from 6 ppm to 213 ppm, and cesium is from 5.1 ppm to 75.4 ppm.
Niobium is in the range of 45.8 ppm to 108.5 ppm, rubidium 19.3 ppm to 3,110 ppm, strontium 19 ppm to 136 ppm, and tantalum 22.7 ppm to 89.2 ppm.
The ground exploration work has been continuous since February 2021 and its purpose is to locate and confirm historical lithium pegmatite occurrences on two lithium prospects (Augustus and Canadian Lithium Prospects), to locate historical drill holes on the Property completed in 1950’s, and to prepare for the upcoming drilling program planned as soon as a drill contractor is available. The pegmatite outcrops were exposed using an excavator due to heavy cover of snow and some overburden. Several historical drill hole casings were located which will provide useful guidelines for placing future drill holes and mapping lithium pegmatites on surface. The field exploration is continuous, and more channel sampling is being carried out on the exposed outcrops. The weather is expected to warm up in the coming weeks which will help thawing of frozen ground to continue sampling.
Gurminder Sangha, CEO of First Energy Metals stated that, “The Company is excited for the progress made to date, especially with the discovery of a new lithium pegmatite zone. First Energy is diverting most of its available resources to explore and develop Augustus project as soon as possible to bring it at par with other developed lithium projects in the Abitibi area. The Company is looking forward to add more lithium resource in the inventory of Quebec Province”.
Each channel sample from this program represents about 38 to 76 cm long, 5 cm wide and 3-5 cm deep cut in bedrock. The samples were bagged and tagged using best practices and were delivered to Activation Laboratories (“ACTLABS”), Ancaster, Ontario for sample preparation and analyses using laboratories code Ultratrace 7 as summarized below. ACTLABS is an independent commercial, accredited ISO Certified Laboratory.
Code Ultratrace 7 – Peroxide Fusion – ICP and ICP/MS
Samples are fused with sodium peroxide in a Zirconium crucible. The fused sample is acidified with concentrated nitric and hydrochloric acids. The resulting solutions are diluted and then measured by ICP-OES and ICP-MS. All metals are solubilized.
ICP-MS
Fused samples are diluted and analyzed by Agilent 7900 ICP-MS. Calibration is performed using five synthetic calibration standards. A set of (10-20) fused certified reference material is run with every batch of samples for calibration and quality control. Fused duplicates are run every 10 samples.
ICP-OES
Samples are analyzed with a minimum of 10 certified reference materials for the required analytes, all prepared by sodium peroxide fusion. Every 10th sample is prepared and analyzed in duplicate; a blank is prepared every 30 samples and analyzed. Samples are analyzed using a Varian 735ES ICP and internal standards are used as part of the standard operating procedure. Source: https://actlabs.com/geochemistry/...k-analysis/peroxide-total-fusion/
Afzaal Pirzada, P.Geo., Geological Consultant of the Company, and a “Qualified Person” for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About the Augustus Lithium Property
The Company owns 100% interest in Augustus Lithium Property in Landrienne & Lacorne-Townships, Quebec, Canada. The Property consists of 271 mining claims covering a total area of 14,155 hectares located approximately 40 kilometres northwest of the town of Val d’Or on map sheets 32C/05 and 32D08. The newly acquired Property claims are spread in several claim blocks optioned in 2021 from different vendors. The Company has prepared a well thought out work plan on the property which includes diamond drilling, metallurgical testwork to produce battery grade lithium carbonate, and resource estimation. To date, the Company has compiled historical drill hole data on the Property for 74 historical dill holes with a cumulative drilling of 12,123.14 m, out which 6,024 m drilling was completed on the Property during 1950s. Several drill hole results indicated intersections over 1% lithium oxide. All this data will help to develop future exploratory drill program and building a data base for NI 43-101 resource estimation”.
About First Energy Metals Limited.
First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the technology metals, precious metal, and base metal sector.
The company’s strategy is to:
Acquire and advance projects through prospecting and early-stage exploration;
Source joint venture partners to finance future exploration and project development;
Create shareholder value through exploration success.
First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
“Gurminder Sangha”
Gurminder Sangha
President & Chief Executive Officer
For further information, please contact the Company at: gsangha@firstenergymetals.com or (604) 375-6005
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-looking Information
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company’s information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to obtain required approvals. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
The drill program is based on the Company's surface trenching and sampling program which is currently underway. The field sampling work confirmed historically reported spodumene bearing lithium pegmatites on the Augustus and Canadian Lithium prospects on the Property. Several historical drill hole collars were also located on the Property which will help in location and orientation of drill holes for the upcoming drill program. To date, the Company has compiled historical drill hole data on the Property for 74 historical dill holes with a cumulative drilling of 12,123.14 m, out which 6,024 m drilling was completed on the two lithium prospects on the Property. Several drill hole results indicated intersections over 1% lithium oxide. The current drill program if successful will enable to complete a maiden NI 43-101 lithium resource estimates on the Property.
The Company is also pleased to announce another round of assay result from channel sampling program at its Augustus Lithium Property in Quebec, Canada. The channel samples intersected 2.68 meters of spodumene pegmatite with 1.04 percent lithium oxide.
Highlights of Assays (see Table 1 for details)
Lithium oxide (Li2O) values are in the range of 0.01 percent (%) to 1.47% Li2O with an intersection of 1.04% Li2O over 2.68 m.
Lithium (Li) values are in the range of 40 ppm (parts per million) to 6,830 ppm.
Beryllium values are in the range of 11 ppm to 263 ppm, barium is from 8 ppm to 357 ppm, and cesium is from 31.2 ppm to 164 ppm.
Niobium is in the range of 9.2 ppm to 95.5 ppm, rubidium 1,180 ppm to 2,770 ppm, strontium 21 ppm to 1,050 ppm, and tantalum 3.8 ppm to 61 ppm.
Gurminder Sangha, CEO of First Energy Metals stated that, "We are looking forward to the success of the current drilling program on the Augustus Property. This will be a step forward to confirm historical drill hole results along with working toward completion of a NI 43-101 and CIM compliant resource estimates for the property".
Each channel sample from this program represents about 38 to 76 cm long, 5 cm wide and 3-5 cm deep cut in bedrock. The samples were bagged and tagged using best practices and were delivered to Activation Laboratories ("ACTLABS"), Ancaster, Ontario for sample preparation and analyses using laboratories code Ultratrace 7 as summarized below. ACTLABS is an independent commercial, accredited ISO Certified Laboratory.
Code Ultratrace 7 – Peroxide Fusion – ICP and ICP/MS
Samples are fused with sodium peroxide in a Zirconium crucible. The fused sample is acidified with concentrated nitric and hydrochloric acids. The resulting solutions are diluted and then measured by ICP-OES and ICP-MS. All metals are solubilized.
ICP-MS
Fused samples are diluted and analyzed by Agilent 7900 ICP-MS. Calibration is performed using five synthetic calibration standards. A set of (10-20) fused certified reference material is run with every batch of samples for calibration and quality control. Fused duplicates are run every 10 samples.
ICP-OES
Samples are analyzed with a minimum of 10 certified reference materials for the required analytes, all prepared by sodium peroxide fusion. Every 10th sample is prepared and analyzed in duplicate; a blank is prepared every 30 samples and analyzed. Samples are analyzed using a Varian 735ES ICP and internal standards are used as part of the standard operating procedure. Source: https://actlabs.com/geochemistry/...k-analysis/peroxide-total-fusion/
Afzaal Pirzada, P.Geo., Geological Consultant of the Company, and a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About the Augustus Lithium Property
The Company owns 100% interest in Augustus Lithium Property in Landrienne & Lacorne-Townships, Quebec, Canada. The Property consists of 271 mining claims covering a total area of 14,155 hectares located approximately 40 kilometres northwest of the town of Val d'Or on map sheets 32C/05 and 32D08. The Property claims are spread in several claim blocks optioned in 2021 from different vendors. The Company has prepared a well thought out work plan on the property which includes diamond drilling, metallurgical testwork to produce battery grade lithium carbonate, and resource estimation. To date, the Company has compiled historical drill hole data on the Property for 74 historical dill holes with a cumulative drilling of 12,123.14 m, out which 6,024 m drilling was completed on the Property during 1950s. Several drill hole results indicated intersections over 1% lithium oxide. All this data will help to develop future exploratory drill program and building a data base for NI 43-101 resource estimation".
About First Energy Metals Limited.
First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the technology metals, precious metal, and base metal sector.
The company's strategy is to:
Acquire and advance projects through prospecting and early-stage exploration;
Source joint venture partners to finance future exploration and project development;
Create shareholder value through exploration success.
First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
"Gurminder Sangha"
Gurminder Sangha
President & Chief Executive Officer
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to obtain required approvals. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Link to Newswire incl. Table with sample assays highlights
VANCOUVER, BC, April 15, 2021 /CNW/ - First Energy Metals Ltd. (CSE: FE) ("First Energy" or the "Company) is pleased to announce assay results of another round of grab and channel sampling from the Augustus Lithium Property in Quebec, Canada. A total of 24 grab and channel samples of varying lengths were cut out of Beluga Pegmatite Zone with a surface exposure of over 100 metres wide and 250 m along strike located at the Canadian Lithium Prospect. The present sampling represents 10.64 metres of channel sampling in the southern part of the Beluga Pegmatite. The field crew is continuously cutting and sampling the remaining outcrops which will be reported as soon as the results are available. Three out of four grab samples assayed up to 4.61 percent (%) lithium oxide (Li2O) with an average value of 3.04% Li2O while the fourth sample returned a low value of 12 ppm lithium. Results of channel sampling completed so far on Beluga Pegmatite indicate a width of 10.64 metres at 0.24% Li2O.
Highlights of Channel Samples Assays (see Table 1 for details)
Lithium (Li) values are in the range of 34 ppm (parts per million) to 4,020 ppm (0.4% Li) with an average of 1,051.70 ppm, where seven samples are over 1,000 ppm lithium.
Lithium oxide (Li2O) values are in the range of 0.001% to 0.87% Li2O with a total width of 10.64 metres at 0.24% Li2O.
Beryllium values are in the range of 103 ppm to 574 ppm, cesium is in the range of 6.6 ppm to 83.9 ppm, and niobium is from 51 ppm to 87.1 ppm.
Rubidium is in the range of 58.4 ppm to 2,720 ppm, tantalum is 44.7 ppm 81.3 ppm, and barium from 24 ppm to 113 ppm.
The ground exploration work has been continuous since February 2021 and its purpose is to locate and confirm historical lithium pegmatite occurrences on two lithium prospects (Augustus and Canadian Lithium Prospects), to locate historical drill holes on the Property completed in 1950's, and to support the ongoing drill program. The pegmatite outcrops are exposed using an excavator, and several historical drill hole casings were located which are useful guidelines for placing drill holes and mapping lithium pegmatites on surface. The field exploration is continuous, and more channel sampling is being carried out on the exposed outcrops.
Each channel sample from this program represents about 0.26 – 0.87 cm long, 5 cm wide and 3-5 cm deep cut in bedrock. Grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property. The samples were bagged and tagged using best practices and were delivered to Activation Laboratories ("ACTLABS"), Ancaster, Ontario for sample preparation and analyses using laboratories code Ultratrace 7 as summarized below. ACTLABS is an independent commercial, accredited ISO Certified Laboratory.
Code Ultratrace 7 – Peroxide Fusion – ICP and ICP/MS
Samples are fused with sodium peroxide in a Zirconium crucible. The fused sample is acidified with concentrated nitric and hydrochloric acids. The resulting solutions are diluted and then measured by ICP-OES and ICP-MS. All metals are solubilized.
ICP-MS
Fused samples are diluted and analyzed by Agilent 7900 ICP-MS. Calibration is performed using five synthetic calibration standards. A set of (10-20) fused certified reference material is run with every batch of samples for calibration and quality control. Fused duplicates are run every 10 samples.
ICP-OES
Samples are analyzed with a minimum of 10 certified reference materials for the required analytes, all prepared by sodium peroxide fusion. Every 10th sample is prepared and analyzed in duplicate; a blank is prepared every 30 samples and analyzed. Samples are analyzed using a Varian 735ES ICP and internal standards are used as part of the standard operating procedure. Source: https://actlabs.com/geochemistry/...k-analysis/peroxide-total-fusion/
Afzaal Pirzada, P.Geo., Geological Consultant of the Company, and a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About the Augustus Lithium Property
The Company owns 100% interest in Augustus Lithium Property in Landrienne & Lacorne-Townships, Quebec, Canada. The Property consists of 271 mining claims covering a total area of 14,155 hectares located approximately 40 kilometres northwest of the town of Val d'Or on map sheets 32C/05 and 32D08. The Property claims are spread in several claim blocks optioned in 2021 from different vendors. The Company has prepared a well thought out work plan on the property which includes diamond drilling, metallurgical testwork to produce battery grade lithium carbonate, and resource estimation. To date, the Company has compiled historical drill hole data on the Property for 74 historical dill holes with a cumulative drilling of 12,123.14 m, out which 6,024 m drilling was completed on the two lithium prospects on the Property. Several drill hole results indicated intersections over 1% lithium oxide. All this data is helpful in developing and executing the current exploratory drill program and building a data base for NI 43-101 resource estimation".
About First Energy Metals Limited.
First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the technology metals, precious metal, and base metal sector.
The company's strategy is to:
Acquire and advance projects through prospecting and early-stage exploration;
Source joint venture partners to finance future exploration and project development;
Create shareholder value through exploration success.
First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
"Gurminder Sangha"
Gurminder Sangha
Chief Executive Officer & Director
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to obtain required approvals. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
NEWS incl. Table - Sample assays Highlights
