What DULLS my Enthusiam with this Report are TWO Key Numbers.
FIRST__This Resource is being Reported at the INFERRED Level__Which
IS the Very LEAST RELIABLE Level Compared to the MUCH Higher
Confidence Levels of INDICATED and MEASURED Resources__Which
REQUIRE a LOT MORE Data to ACHIEVE Such Levels.
SECOND__The Estimated AVERAGE Concentration @ ONLY 51 mg/litre is
CONSIDERABLY LOWER than Expected__Making Commercial PROFITABLE
Operations MORE Challenging.
Calgary, Alberta, Canada, May 18, 2023 (GLOBE NEWSWIRE) -- Volt Lithium Corp. (TSX-V: VLT, OTCQB: VLTLF, FSE: I2D) (“Volt” or the “Company”) is pleased to announce the completion of an initial resource report, prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) (the “Technical Report”), indicating an inferred mineral resource of 4.3 million tonnes of lithium carbonate equivalent (“LCE”) at the Company’s Rainbow Lake Property.
Key Highlights:
- 4.3 million tonnes of LCE in the Inferred Mineral Resource category from the Devonian aged Sulphur Point, Muskeg and Keg River (the “Elk Point Group”) aquifers.
- Rainbow Lake Property has an estimated 99.0 billion barrels (15.7 billion cubic metres (m3)) of brine, more than 20 billion barrels higher than the 78 billion barrels previously estimated, with lithium concentrations as high as 121 mg/L and an estimated average associated lithium concentration of 51 mg/L.