ROUYN-NORANDA, QC, Aug. 28, 2023 /CNW/ - Comet Lithium Corporation (TSXV: CLIC) ("Comet Lithium" or the "Company"), is pleased to announce it has identified pegmatites in outcrop during phase one of its ground exploration program at its 100%-owned Liberty Property in James Bay, Québec, adjacent to Winsome Resources' Adina project.
The first phase of exploration on the Liberty Property began early August, and to date, the exploration team has covered a distance of approximately 536 kilometres, which represents more than 90% of the ground. Furthermore, the field teams have identified and sampled numerous pegmatite veins in outcrop, as well as in large sub crop glacial boulders and erratic blocks. All the 205 rock samples collected at Liberty as of now are scheduled to be sent to the laboratory in early September 2023 for further analysis. The exploration program on Liberty is now moving into the second phase, which is a soil survey to assist in the identification of drill targets.
Mr. Sylvain Champagne, Comet Lithium's Interim CEO and President, stated: "I am very proud of what we have been able to accomplish during this first exploration phase at Liberty. We are very encouraged by our early findings along strike with Winsome's Adina pegmatite known trend."
Mr. Champagne, further stated: "Phase two of our exploration program at Liberty will be focused on completing the field work by the end of the month of September 2023. The Company is also evaluating with service providers the possibly to begin a gravity survey on the Liberty Property."
Comet Lithium would also like to draw attention to Loyal Lithium's recent discovery on its Trieste Lithium project of five spodumene bearing pegmatite dykes.1 The location of the new discovery is about 10 kilometres east south of the Liberty Property limit. The cluster of pegmatite outcrops and associated glacial boulders defines a new lithium mineralization trend. This time, unlike the Winsome's Adina pegmatite trend hosted in the amphibolite-dominated Trieste Formation, the new discovery is hosted in high metamorphic rocks derived from sediments. The new discovery puts the Liberty Property in the middle of these two discoveries. It also demonstrate that valuable pegmatites can be found outside of the known Adina trend.
Qualified Person
Martin Demers, P. Geo (ogq #770, APEGNB L5980, PGO #3785), registered in the Provinces of Québec, New-Brunswick, and Ontario a consultant to Comet Lithium, is a qualified person under National Instrument 43‑101 - Standards of Disclosure for Mineral Projects. He has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.
About Comet Lithium Corporation
Comet Lithium is a dynamic lithium-focused exploration company active in the prolific James Bay District of Quebec. Comet Lithium's flagship asset is its 100%-owned Liberty Property contiguous to Winsome Resources' Adina deposit, a growing high-grade discovery. Comet Lithium is advancing Liberty to first-ever drilling.
Forward-Looking Statements
This news release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Comet Lithium, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including the exploration programs, the results therefor and development (including results from the ground samples collected on the Liberty Property and any future exploration programs) of the Liberty Property, the engagement of a third party to conduct a gravity survey on the Liberty Property, or if it does so, what benefits Comet Lithium will derive from the Liberty Property. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Comet Lithium's control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Financial Instruments" and "Risk and Uncertainties in Comet Lithium's Annual Report for the fiscal year ended December 31, 2022, a copy of which is available on SEDAR+ at www.sedarplus.ca, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Comet Lithium does not intend, nor does it undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
Website: CometLithium.com
SOURCE Comet Lithium Corp.
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