VANCOUVER, British Columbia, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Vital Battery Metals Inc. (“Vital” or the “Company”) (CSE: VBAM | OTC: VBAMF | FRA: C0O) is pleased to announce the successful completion of the Phase 1 Exploration Program (the “Program”) at its Vent Copper Project (the “Project”) in the Alberni Mining Division, located in southwest British Columbia. The Program was executed in collaboration with Geomap Exploration Inc. and was aimed at acquiring essential data for the development of high-priority drill targets.
Over the course of four weeks in May and June 2023, the Program encompassed prospecting, mapping, sampling, and ground geophysical surveys. Target areas identified in the 2021 technical report were thoroughly investigated. Notably, special attention was given to the Vent-Ken showings, which had previously demonstrated high copper and silver values in sampling. A comprehensive sampling and mapping program over other claims blocks was also conducted to further evaluate these areas. Geological mapping and soil sampling efforts spanned the entire Project, focusing on regions where magnetic surveys indicated the presence of near-surface features.
Adrian Lamoureux, Vital’s Chief Executive Officer and President commented, “The Company is looking forward to advancing the Vent Copper Project as early results have shown favorable geology for a potential discovery of copper. We intend to continue exploring the target areas identified through previous sampling and surveying.”
Vital remains committed to unlocking the full potential of the Project and will continue to provide updates on the progress of this exciting endeavor. The exploration data is being compiled by the Company and will be reported as soon as available.
Figure 1 - Vital Battery Metals Vent Target Areas
About the Vent Property
The Project encompasses approximately 1,561 hectares of crown land in the Alberni Mining Division located in British Columbia, Canada. A key feature of the property is an access forestry road that traverses through its center in a northwest-southeasterly direction, covering a substantial portion of the Project. Geologically, the claims are underlain by rocks of the Karmutsen Formation and Island intrusions. Regionally, the Karmutsen Formation consists of Pillow-basalt, pillow-breccia, basaltic lava, and minor tuff and limestone, ranging from Upper Triassic to Lower Jurassic in age. However, the volcanic rocks within the property predominantly exhibit andesitic composition, characterized by shades of grey-green to dark green. These rocks are generally very fine-grained, occasionally medium-grained, massive, and commonly uniform in appearance. Alterations such as chlorite and epidote were observed in some areas, alongside veins and veinlets of milky quartz Pyrite is highly prevalent and may constitute up to 15-20% of the rock composition. Amygdaloidal basalt, sporadic chalcopyrite occurrences, and altered mafic and flow rocks have been reported in select regions. The Island intrusions include Quartz-Monzonite, Hornblende-Monzonite, Quartz-Diorite, and Diorite, with quartz-monzonite and quartz-diorite being the dominant rock types.
Marketing Agreement
The Company also announces that it has entered into an agreement (the “Agreement”) with MIC Market Information & Content Publishing GmbH (“MIC”) (address: Gerhart-Hauptmann-Str. 49b 51379 Leverkusen; email: contact@micpublishing.de) to provide marketing services for a term of 6 months, commencing September 18, 2023 (the “Term”).
MIC is an independent company which will, as appropriate, provide project management and consulting for an online marketing campaign, coordinate marketing actions, maintain and optimize AdWords campaigns, adapt AdWords bidding strategies, optimize AdWords ads and create and optimize landing pages (the “Services”). The promotional activity will occur by email, Facebook, and Google.
Under the terms of the Agreement, the Company will compensate MIC €150,000, with an option to increase the advertising budget up to €250,000 during the Term. The Company will not issue any securities to MIC as compensation for its marketing services. As of the date hereof, to the Company’s knowledge, MIC (including its directors and officers) does not own any securities of the Company and has an arm’s length relationship with the Company.
Qualified Person
The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Vital Battery Metals Inc.
Vital Battery Metals Inc. (CSE: VBAM |OTC: VBAMF | FRA: C0O) is a mineral exploration company dedicated to the development of strategic projects comprised of battery, base and precious metals in stable jurisdictions. The Company is working to advance its Schofield Lithium, Dickson Lake Lithium, Sting Copper and Vent Copper-Gold Projects.
The Sting Copper Project covers approximately 12,700 hectares and hosts multiple historic Newfoundland and Labrador Government documented mineral occurrences and is located within a 50 km corridor known for significant volcanogenic massive sulfide (VMS), copper quartz vein lode and low sulphation epithermal gold showings. The Vent Copper-Gold project covers 1,562 hectares in British Columbia. Vital continues to evaluate value-add assets to bolster its project portfolio.
The Schofield Lithium Project covers 8,824 hectares and is adjacent to Brunswick Exploration’s Hearst Lithium Project. The Schofield Lithium Project is located ~60 km south of Hearst, Ontario. The Dickson Lake Lithium Project covers 464 single-cell mining claims at approximately 9,780 hectares and is near a Brunswick Exploration Lithium Project, Imagine Lithium’s Jackpot Deposit and Rock Tech’s Georgia Lake Deposit.
For more information, visit www.vitalbatterymetals.com
On Behalf of the Board of Directors
Adrian Lamoureux
Chief Executive Officer, Director
+1 (604) 229-9772
info@vitalbatterymetals.com
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the Project acquisition bringing a low-risk opportunity, the Company building a strong battery metals portfolio with low-risk opportunities that positively impact the Company and its shareholders and the Company providing an initial work plan are "forward-looking statements". Forward-looking statements in this news release include, but are not limited to, statements with respect to the Project and its mineralization potential; statements with respect to the provision of the Services by MIC; the Company’s objectives, goals or future plans with respect to the Project; the commencement of drilling or exploration programs in the future; the anticipated results of the Program. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/af43f5cb-9e39-4b9e-a437-b9b37941e162
