VANCOUVER, British Columbia, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Global Li-Ion Graphite Corp. (“LION” or, the “Company”) (CSE: LION) (OTCQB: GBBGF) (F: 0TD) The Company is pleased to announce that it has completed its due diligence site visit and initial field work. The four-day due diligence program of Global Li-Ion’s MVZ Project in Chihuahua, Mexico was completed on October 20. Work confirmed the presence of high-grade sulfide mineralization in historic mines and exact location of Claim Monuments to ensure they comply with Mexican mining regulations and law. The second objective of the program was to confirm our technical teams interpretation of the properties geology which is, that the mineral system is very large and that further exploration work is highly recommended. The program was conducted under the direct supervision of QP William Feyerabend CPG. Finally Analyses of 42 field samples taken of the mineralization and altered rock are expected in about three weeks. In addition, a suite of field samples representative rocks, were collected to help advance our understanding of the host rocks to the mineralizing system on the property and the various styles and intensities of alternation. This work will assist in designing the next stages of exploration and specifically geophysical surveying to define drill targets.
President John Roozendaal states, “Management is very pleased the Due Diligence program has been successful and reinforces our confidence in the Projects merits and potential. With the completion of this first key program the Company will begin moving forward with next steps. In addition, we are very excited to have Bill and Vincente join our Advisory Board. Their experience and knowledge will be of tremendous value to the Company, with our mineral acquisition, exploration and operations in Mexico. Having strong council and advisors is key to business success when conducting business in international jurisdictions.”
William (Bill) Feyerabend has worked at Guanajuato, Mexico district exploration and has evaluated and written Technical Reports on several silver-gold Properties across northern Mexico. He has worked in five South American Countries, is married to a Peruvian Lady and is extremely comfortable in Latin society. He has extensive experience from discovery thru the development process after working at both the Mesquite, CA and Chimney Creek NV mines, both from discovery hole to production and quadrupling the resources at Brisas, Venezuela while he was Project Manager.
Mr. Herrera is a Mexican/Canadian businessman residing in Mexico and Canada with over 20 years of experience as CEO for International Companies in Mexico operating in various sectors including mining. He obtained a bachelor’s degree in business administration from a top Mexican University the Tecnológico de Monterrey (ITESM) in Mexico City. He is a corporate administrator with Extensive experience in business, finances, manufacturing, planning, treasury and management. He participated in the 2006 Presidential Election campaign serving as a liaison between supporters and the candidate, contacting and organizing meetings and events with the most remarkable businessmen in the country. Through his consulting firm, Canmex Business Consultants Ltd, he has been active in the mining industry since 2007 creating a wide network of business associates connected to the Mexican mining and exploration industry.
Company Chairman Jason Walsh added, “I would also like to welcome Vincente and Bill to the LION team and wanted to assure shareholders we have not forgotten about our advanced Graphite assets, in Madagascar and Manitoba, We anticipate having updates on those fronts very soon.”
The Company would like to announce it has set 1 million incentive stock options at a price of $0.12 for a period of two years.
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:
John Roozendaal
President
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”, “should”, “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 time.
