VANCOUVER, British Columbia, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Global Li-Ion Graphite Corp. (“ Global Li-Ion ” or, the “ Company ”) (CSE: LION) (OTC: GBBGF) is pleased to announce that it has entered into a letter agreement with Grupo Minero Diflor S.A. de C.V. a private Mexican Company to acquire a 100% interest in the MVZ Silver-Gold Mine Property in Chihuahua Mexico.
The 1200 hectare Property hosts 3 past producing silver-gold deposits, El Moro, La Virginia and La Zorra (MVZ Property). The Property is situated within Grupo Minero Diflor’s Pajarito Project which covers a 10 X 25 km, fault-bounded exposure of older sediments and intrusives surrounded by voluminous younger post-mineral rhyolites. The Pajarito Project covers a large mineral system with widespread epithermal mineralization and multiple examples of porphyry-style potassic and propylitic alteration. The older rocks are broadly altered and host artisanal mines. In the silver dominant MVZ triangle, breccia and intense shear-hosted sulfide mineralization has silver values up to +1,000 grams per tonne silver, multiple percentages of lead and zinc with gold credits.
The MVZ Mine Property, based on aero magnetics and pegmatitic quartz on a dump, is interpreted to be located over an intrusive. The La Zorra mine has open stopes up to 10 meters high. The mine has essentially no dump and mined material was shipped directly by truck to the smelter. There also are nearby gold prospects on the concession reporting multi-gram gold assays. Diflor is the first to conduct modern sampling and geological mapping but the Project remains unexplored by modern geophysical surveying, drilling or other modern exploration and prospecting programs.
The Property is located in the south west of Mexico’s Chihuahua state adjacent to Sinaloa and within the prolific Sierra Madre Gold-Silver Belt which hosts numerous multi million-ounce gold-silver deposits. The Sierra Madre Belt is prolific country for silver-gold explorers. In this portion of the Belt are the following past and present producers. The MVZ Mine Property is located 60km south of the Gold Corp’s past producing 1.75M ounce El Suazal Gold Mine, is located 85 KM north of McEwen Mining Inc., Fenix Project (El Gallo) which reports a measured and indicated resource of 32.3 M oz of Silver and is 100 km northwest of historic Guadalaupe y Calvo mine which produced 2 M oz gold and 35 M oz silver.
The property is road accessible to the Pacific port of Los Mochis located 125km to the west and which has air, rail and Interstate service.
President John Roozendaal states, “The Property presents an exciting opportunity for the Company. It is within the World-Famous Sierra Madre Gold Belt of Mexico and therefore within the North American trading zone. The property itself has had limited exploration and much of the exposure to historical prospecting activity was impeded by a thin cover of soil and rock leaving open the potential for undiscovered silver-gold mineralization near surface. With modern “state of the art” mineral exploration technologies, methods and advances in the geological knowledge of these types of mineral systems we are looking forward to discovering the full potential of the mineral rich area.”
The macro outlook for both Silver and Gold remains incredibly positive. Silver is of particular interest to LION given both its historic demand as a store of value but also as a significant material in the manufacture of many Green technologies and in particular the collection of solar energy through panels. Silver is the most electrically conductive metal in addition to its other important properties.
Mexico has long been considered a premier producer of silver to the world and is one of the most attractive destinations for mineral exploration and mining finance today. Its location within the North American trading region and proximity to the west coast of Mexico with its deep-water ports for shipping, electrical power and transportation infrastructure are also important considerations for acquisition of the Property.
Technical information
The technical content of this news release has been reviewed and approved by William Feyerabend B.Sc., CPG and a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 "Standards of Disclosure for Mineral Projects”.
About Global Li-Ion
Global Li-Ion Graphite is an exploration and mineral development Company focused on the acquisition and development of mineral projects to supply the necessary raw materials the rapidly growing Green energy industry and related technologies require.
Further information about Global Li-Ion is available under its profile on the SEDAR website, www.sedar.com , on the CSE website, www.thecse.com , and the Company’s website, www.globalli-iongraphite.com .
For Further information about the Company, please contact:
Jason Walsh
Director & Officer
Global Li-Ion Graphite Corp.
Telephone 604.608.6314
Email: info@liongraphite.com
Neither the Canadian Securities Exchange nor its regulation services provider have reviewed or accept responsibility for the adequacy or accuracy of this press release.
Forward-Looking Information:
This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “intend”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks discussed in the Company's Management's Discussion and Analysis under the Company's profile on www.sedar.com. While the Company may elect to, it does not undertake to update this information at any particular time.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
