VANCOUVER, British Columbia, Oct. 20, 2022 (GLOBE NEWSWIRE) -- SPOD LITHIUM CORP. (“SPOD” or the “Company”) (CSE: SPOD) is pleased to announce that it has engaged Dahrouge Geological Consulting Ltd. (“Dahrouge”) to carry out an initial exploration program and ongoing geological services on the Company’s Megali and Lithium Grande 4 properties in the James Bay Territory in the province of Quebec. Dahrouge Geological Consulting Ltd. has confirmed experience in the area and has a well-established operational capacity in James Bay. Both the Megali and Lithium Grande 4 projects are adjacent to Patriot Battery Metals' project, and less than 2.7 km south-south-east (Megali) and less than 2.0 km south (Lithium Grande 4) from Patriot's newly discovered Corvette lithium project.
Dahrouge, in collaboration with Spod, will develop its own targets using high precision satellite imagery and interpretation provided by Japosat Satellite Mapping, which suggests numerous granite pegmatite outcrops existing on both of Spod Lithium’s projects.
The work will be mainly concentrated in the claims block portion located close to the sheared contact between amphibolite derived from volcanic rocks and granitoid complexes. This context is a well documented favorable environment for the discovery of lithium bearing pegmatites in the James Bay area.
The Megali property consists of 78 mineral claims covering a total area of 3,996.67 hectares (40 square kilometers) and the Lithium Grande 4 project consists of 41 mining claims covering 2,100 hectares (21 square kilometers).
Dahrouge provides professional geological, logistical, and project management services covering all exploration stages. The firm has extensive exploration experience in Quebec, with a consistent presence in the province since 2006 (dahrouge.com).
Japosat is a Montreal based firm specialized in satellite imagery, multispectral mapping and data treatment. See complete Japosat report on website at: www.spodlithiumcorp.com
Chris Cooper, CEO, stated: “The Corvette area in James Bay has attracted considerable attention in the emerging Lithium market with a continuous stream of impressive drill results coming from the nearby Patriot Battery Metal Corp. Corvette project. Pegmatite trends in the Corvette area appear to be included in a 2km long corridor located a few kilometres northwest of the Spod Lithium claims. We are confident in our chances to discover other Li bearing pegmatite trends with our first program starting this fall.”
Qualified person
Martin Demers P.Geo., a registered permit holder with the Ordre des Geologues du Quebec and qualified person as defined by National Instrument 43-101, has reviewed the technical information in this news release.
About the Company
Spod Lithium Corp. is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base, and precious metals. The Company’s flagship assets are its Lithium properties located in the James Bay region of Quebec, Canada. For further information, please refer to the Company's disclosure record on SEDAR (www.sedar.com) or contact the Company through its website at www.spodlithiumcorp.com or by telephone at 604.307.8290.
On Behalf of the Board of Directors
Chris Cooper
Chief Executive Officer
604.307.8290
Forward-Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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