Corporate update
CDN Maverick talks Poncheville LCT pegmatite potential
2023-12-01 14:40 ET - News Release
Mr. Sandy MacDougall reports
CDN MAVERICK CORPORATE UPDATE, APPOINTMENT OF DIRECTOR, PRESIDENT & COO
CDN Maverick Capital Corp. has provided a corporate update encompassing significant developments regarding its investment in Noram Lithium Corp's Zeus lithium project, board and management changes, and the Poncheville lithium prospects in Quebec.
Poncheville lithium prospects, James Bay, Quebec
Preliminary results from rock samples collected at one-kilometre approximate grid spacing during the first ever reconnaissance pass on these very large grassroots properties during summer phase 1 traverses on the two lithium projects indicate the existence of prospective ground for LCT (lithium-cesium-tantalum) pegmatites similar to those found in other prolific lithium-bearing pegmatite fields in the Quebec province. Despite lithium values of less than 100 parts per million that were found in all samples, a considerable number of them are above background levels.
There is one sample (No. 2142210) that returned elevated rare earth element values (71.1 ppm Ta, 388 ppm niobium, 113 ppm yttrium and 1,432 ppm manganese) that likely corresponds with Mn-columbite-tantalite, clearly indicative of a rock-forming mineral found in LCT pegmatites.
Change to the board, management
Maverick further announces a change to its board by appointing Simon D. Studer as additional director of the company. Mr. Studer will also assume the role of president and chief operating officer. As part of the founding team of Maverick, Mr. Studer will report directly to executive chairman Sandy MacDougall and work alongside chief executive officer Adam Cegielski in continuing to effectively implement the company's strategic vision.
"We look forward to bringing Simon onboard the Maverick team to enhance the positive momentum we've established so far," said Mr. MacDougall, founder and executive chairman. "His experience in Argentina and leadership in identifying and bringing the NOAL partnership to the table, has brought significant value to the company. We are confident that his skills will continue to greatly benefit the company as we expand and develop our projects."
Mr. Studer holds a master's degree in earth and energy resource leadership from Queen's University in Kingston, Ont. He brings relevant international expertise in the exploration business to the company having worked on numerous lithium, copper and gold exploration and development projects in North and South America and being fluent in German, English and Spanish.
"I am honoured to join the Maverick team, which boasts a very experienced and accomplished group of executives and professionals from the mining industry," said Mr. Studer and continues, "We are aligned in our shareholder-first values and I look forward to working closely with the team to execute on the company's business plan; driving the expansion and development of our exploration projects and create sustainable value for our shareholders."
Noram Lithium investment
The company secured a significant equity stake in Noram Lithium Corp. Noram has provided an update on its 100-per-cent-owned Zeus lithium project, where it recently completed a geological review of the project (see news release dated Nov. 7, 2023) and prepares to drill a second potential high-grade zone at the Zeus lithium project located in Clayton Valley, Nevada. The results of the work highlighted the potential for multiple high-grade layers below the known high-grade layer which outcrops at surface and is the focus of the current mine planning for the Zeus project.
Qualified person
Raul Sanabria, MSc, PGeo, the qualified person for the company as defined by Canadian National Instrument 43-101 has reviewed and approved the technical information contained in this release.
About CDN Maverick Capital Corp.
CDN Maverick Capital a diversified exploration company, with a core focus on lithium.