Toronto, Ontario--(Newsfile Corp. - September 19, 2023) - Champion Electric Metals Inc. (CSE: LTHM) (OTCQB: CHELF) (FSE: 1QB0) ("Champion Electric" or the "Company") is pleased to announce the completion of a Light Detection and Ranging ("LiDAR" or the "Survey") and high-resolution aerial imagery survey over its James Bay lithium properties. The new data will be merged with the information collected in 2022 to provide a seamless and complete coverage of the Champion Electric Lithium Project after the Company's newest property acquisition (Figure 1).
Final data from the Survey will be received over the coming weeks, and it is anticipated that ground truthing of the newly interpreted outcrops of interest will be undertaken towards the end of this field season.
Jonathan Buick, President & CEO, comments:
"The high-resolution digital topographic model and aerial imagery enable us to remotely identify small outcrops masked by the thick vegetation and discern them from boulders and other glacial deposits. This ensures that the time spent by the field team is maximised by the field program efficiencies. The Champion Electric Lithium Project has more than tripled in size since we commissioned the first LiDAR survey, and it was one of our priorities to capture this invaluable dataset over the remainder of the property as soon as the wildfire situation eased in the region."
About the LiDAR Survey
The Survey was designed to produce a sub-metric scale topographic model of the ground surface and high-resolution imagery with less than 20 cm pixel resolution. Pegmatites are often relatively more resistive to erosion than their surroundings and can form subtle elongated hills. These discrete topographic highs and other geological features of interest can be identified through analysis of the high-resolution datasets even in areas of thick vegetation (Figure 2).
Figure 1: LiDAR survey coverage
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Figure 2. Examples of previously unknown outcrops interpreted from the 2022 LiDAR survey
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About the Project
The Company's lithium properties cover the northern extension of the Lac Guyer Greenstone Belt which hosts neighboring Patriot Battery Metals' Corvette and Winsome Resources' Cancet advanced projects in the prolific James Bay region of Quebec (Figure 3).
Figure 3: Champion Electric Lithium Project location map
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Qualified Person
Dr. Eric Hebert, P.Geo., Senior Geological consultant, is a member (#0842) of the Ordre des Géologues du Québec (OGQ) and a qualified person within the meaning of National Instrument 43-101, and has reviewed and approved the technical information contained in this press release.
About Champion Electric Metals Inc.
Champion Electric is a discovery-focused exploration company that is committed to advancing its highly prospective lithium properties in Quebec, Canada and cobalt properties in Idaho, United States. In addition, the Company owns the Baner gold project in Idaho County and the Champagne polymetallic project in Butte County near Arco.
The Company's shares trade on the CSE under the trading symbol "LTHM", on the OTCQB under the trading symbol "CHELF", and on the Frankfurt Stock Exchange under the symbol "1QB0". Champion Electric strives to be a responsible environmental steward, stakeholder and contributing citizen to the local communities where it operates, taking its social license seriously, employing local community members and service providers at its operations whenever possible.
ON BEHALF OF THE BOARD OF CHAMPION ELECTRIC
"Jonathan Buick"
Jonathan Buick, President and CEO
To learn more, please visit the Company's SEDAR profile at www.sedarplus.ca or the Company's corporate website at www.champem.com.
For further information, please contact:
Investor Relations and Communications
Phone: (416) 567-9087
Email: investors@champem.com
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.
Cautionary Statements
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release. This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by management of the Company, including closing of the Transactions and the prospectivity of the Projects for lithium. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The Projects are at an early stage of exploration, and the Company cautions that the qualified persons who have reviewed and approved this news release have not verified scientific or technical information produced by third parties.
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