CSE: CDN
OTCQB: AXVEF
Frankfurt: 338B
VANCOUVER, BC, July 18, 2023 /CNW/ - CDN Maverick Capital Corp. ("Maverick" or the "Company") (CSE: CDN) (OTCQB: AXVEF) (Frankfurt: 338B) is pleased to announce the mobilization of GroundTruth Exploration to conduct the Phase I reconnaissance of the Poncheville Lithium Prospects. These prospects span nearly 40,000 hectares across the Poncheville and Chabinoche properties and are located approximately 65 km northeast of the mining town of Matagami.
Maverick and the GroundTruth technical team have planned a comprehensive prospecting program to map and identify potential lithium pegmatite occurrences within this large land package. About 90 reconnaissance traverses spaced 1,000m apart for a total of approximately 400 linear kilometers had been planned over both properties. The team is equipped with SciAps 901Z LIBS analyzers, a tool that allows onsite lithium and pathfinder element testing and composite sample collection from prioritized outcrops. This approach will assist in creating a preliminary geochemical map of the lithium bearing anomalies on our properties. High-resolution (5cm-7cm pixel resolution) orthophoto and DEM on the first identified targets will be undertaken using drone-assisted orthoimagery and Lidar.
Samples are prepared and dispatched from the exploration camp to the nearby SGS preparation facility in Val D'or on a weekly basis, after which they will be shipped to SGS lab in Burnaby, BC for assaying.
Maverick's CEO Adam Cegielski commented, "We are excited to commence this comprehensive program. The James Bay area extremely active with many eyes on the recent activity and discoveries. There are strong indications that some of the most significant trends in the area may also exist within our Project. During Phase I our primary focus is to prove the existence of lithium-rich pegmatites. Upon confirmation, Phase II will involve detailed mapping, the prioritization of targets and the initial drill testing of the most favorable zones."
Qualified Person
Raul Sanabria, M.Sc., P.Geo., the qualified person for the Company as defined by Canadian National Instrument 43-101 has reviewed and approved the technical information contained in this release.
About CDN Maverick Capital Corp.:
CDN Maverick Capital Corp. is a diversified exploration Company, with a core focus on lithium.
Electric Avenue Ontario: Northwind Lake Lithium Property
7,040 hectares in the "Electric Avenue", an emerging lithium pegmatite exploration camp in the Red Lake area of Ontario, near to Frontier Lithium's PAK Lithium Project.
Jame Bay Quebec: Poncheville Lithium Project
Lithium pegmatite prospect spanning nearly 40,000 hectares across the Poncheville and Chabinoche properties
Rainbow Canyon Nevada:
The Company also owns the Rainbow Canyon Gold Project in Nevada
Investments
1. Holds 408,291 shares of NOAL Lithium Brines Inc., a lithium company actively working in the Lithium Triangle and drilling it's maiden resource in the area.
2. Holds over 1.6M shares in Noram Lithium Corp.; a lithium clay sands exploration and development Issuer located in Clayton Valley Nevada with a significant lithium resource known as the Zeus project. Noram is working towards a Prefeasibility Study.
As part of its ongoing efforts, CDN is actively expanding its critical minerals portfolio across the Americas, with a firm commitment to sustainable and ESG-friendly investing and exploration.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder, Chairman, and Director
sandyjmacdougall@gmail.com
C: 778.999.2159
Adam Cegielski
CEO, Director
Adam@CDNMaverick.com
C: 905.510.8890
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This news release contains projections and forward - looking information that involve various risks and uncertainties regarding future events. Such forward - looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company.The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice.The Company assumes no obligation to update forward-looking information should circumstance or management's estimates or opinions change.
Neither the Canadian Securities Exchange ("CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE CDN Maverick Capital Corp.
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