VANCOUVER, British Columbia, Dec. 20, 2022 (GLOBE NEWSWIRE) -- Clarity Metals Corp. (“Clarity” or the “Company”) (CSE: CMET, OTC: CLGCF, FSE: 27G) is pleased to announce that exploration efforts are underway at the Lithium381 Property located in the James Bay region of Quebec and adjacent to Allkem Limited’s feasibility stage James Bay Lithium Project (the “Property”, see figure 1). Data is currently being collected from an Induced Polarization and Resistivity survey (“IP/Resistivity").
James Rogers CEO of Clarity comments: “The Clarity Team is excited to be mobilized and collecting data on the Lithium381 Project adjacent to Allkem’s James Bay Lithium deposit. The data will help define the exploration strategy for the Property as we continue to explore for lithium bearing pegmatites.”
The IP/Resistivity Survey
Clarity Metals Corp. is currently conducting an exploration campaign with an IP/resistivity survey on the entire Lithium381 Property. The survey is being performed by TMC Gophysique out of Val d’Or Quebec and is expected to be completed in December. The grid line spacing was set at 100m, with the survey defined in a dipole-dipole configuration and 25 m measurements (n=10). Previous surveys conducted by Lithium One in 2008 (predecessor to Galaxy Lithium) and Allkem (2021) have shown high resistive values which in part correspond to spodumene granitic pegmatite dykes and bodies unearthed and drilled over the years (Figure 2). The last geophysical survey completed by TMC Gophysique in 2021 indicated that the resistivity highs extended for 2.3km east of the Billy Diamond Road (James Bay Road) where spodumene granitic pegmatite dykes were observed. Clarity and Genius hope to outline similar resistivity targets to be investigated during subsequent exploration.
Figure 1. Location of Lithium381 Project showing nearby properties and total pit outline on Allkem’s James Bay Lithium Project from the Allkem Feasibility Study.
Figure 2. Contour map, apparent resistivity, Lithium One (2008)
The Lithium381 Property
The Property is located in Northern Quebec, Canada, approximately 3 km from the James Bay Road and the service station at KM381 which provides infrastructure to the local area.
The 21 mineral claims comprising the 1107 ha property are contiguous with Allkem Limited’s James Bay Lithium Property hosting a deposit with Indicated resources of 40.8 Mt @1.40% Li2O. The James Bay Lithium deposit is a lithium bearing pegmatite, which is slated to start construction in q1 2023. (Source: Allkem Feasibility Study filed by Allkem on SEDAR on January 11, 2022).
The Property has not previously been explored for lithium bearing pegmatites but is underlain primarily by amphibolite facies metasedimentary and minor metavolcanic rocks of the Lower Eastmain Group of the Eastmain Greenstone belt in the northeastern part of the Superior Province; the same host rocks of the adjacent James Bay Lithium Deposit.
Quebec has become a favourable jurisdiction for critical mineral exploration investment with its ‘2030 Plan for a Green Economy’ targeting a reduction in carbon emissions as well as its ‘Plan for Development of Critical and Strategic Minerals (2020-2025)’ which includes commitments to share financial risk and plans to improve infrastructure for projects in Northern Quebec.
Clarity recently entered into an option agreement to earn an undivided 50% right, title, ownership and beneficial interest of the Lithium381 Property from Genius Metals Inc., an arm’s length public company listed on the TSX Venture Exchange (“TSXV”) (See Clarity news release of Dec 7, 2022).
Publishing Services Agreement
Clarity additionally wishes to announce that it has entered into a publishing services agreement dated December 14, 2022 (the “Agreement”) with 0865381 B.C. Ltd., doing business as “Volume Hunters” (the “Publisher”), pursuant to which the Publisher has agreed to provide services including dissemination of public information over social media and other duties mutually agreed upon by the Company and the Publisher in consideration for $50,000 plus applicable taxes of $2,500 for a term of one year ending on December 14, 2023.
Qualified Person
Mr. Rory Kutluoglu P. Geo., a member of the advisory board and a consultant of the Company, is a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the technical information in this news release.
About Clarity
Clarity Metals Corp. is a Canadian mineral exploration project generator company focused on the acquisition, exploration and development of precious and base metals projects. Clarity’s exploration mandate is global and focused on countries with established legal and regulatory systems supporting mining investment. The Company is based in Vancouver, British Columbia, and is listed on the CSE under the symbol “CMET”.
Clarity recently entered into an option agreement to acquire 50% of the Lithium381 Project adjacent to Allkem Limited’s (“Allkem”) James Bay Lithium feasibility stage project. See Clarity news release dated December 7, 2022.
The Company was also recently assigned an option to acquire 100% of the Fecteau project located in the prolific Abitibi gold belt adjacent to Osisko Mining’s Windfall project. See Clarity news release dated November 22, 2022.
Additionally, Clarity has title on several early-stage projects in British Columbia and Newfoundland:
- Empirical Gold Copper Molybdenite Property (10,518 ha) – Lillooet, B.C.
- Tyber Gold Copper Silver Property (928 ha) – Southeast Vancouver Island, B.C.
- Gretna Green Gold Copper Silver Property (1,331 ha) - Port Alberni, Vancouver Island, B.C.
- Harp Lake Nickel Property (3,452 ha) – Labrador, NL
- Eddies Cove MVT Property (450 ha) –NW Newfoundland
- Hare Bay Nickel Property (750 ha) –NW Newfoundland
To learn more about Clarity Metals Corp. and its projects please visit www.claritygoldcorp.com.
ON BEHALF OF THE BOARD
“James Rogers”
Chief Executive Officer
1 (833) 387-7436
info@claritygoldcorp.com
www.claritygoldcorp.com
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/03239761-27d5-42a7-b5e6-a0bd7fcbed52
https://www.globenewswire.com/NewsRoom/AttachmentNg/b54e66a3-11da-40b6-afd4-7609438e1dba