Calgary, Alberta--(Newsfile Corp. - July 30, 2024) - Volt Carbon Technologies Inc. (TSXV: VCT) (OTCQB: TORVF) ("Volt Carbon" or the "Company") is pleased to announce the initiation of its 2024 exploration program on the Mount Copeland Molybdenum (Moly) and Rare Earth Element (REE) property located in Revelstoke, British Columbia.
Exploration Program Overview
Volt Carbon's exploration program at Mount Copeland will primarily focus on sampling the tailings pond, which is believed to contain REE mineralization. In addition, the program will include re-sampling the West extension, the main target, which previously showed good width and elevated REE with magnetic minerals like Pyrrhotite and magnetite near the syenite contact, providing promising drill targets. Further, re-sampling efforts will extend to the high-grade area to the east where the glacier has receded, potentially revealing more accessible mineral deposits. Tailings ponds are often overlooked yet can be rich sources of REEs and critical minerals. Our targeted sampling aims to efficiently recover these resources, leveraging both internal and external laboratory analyses for thorough evaluation. The Mount Copeland property is situated in a geologically favorable region, enhancing its potential to yield significant REE resources. The previously mined molybdenum ore is notable for its clean geochemistry due to its alkaline nature, distinguishing it from other calc-alkaline or non-syenite hosted ores.
Historical Data and Potential
Historical geochemical analysis reports of REEs from previous drilling and rock samples initiated by the Company on Mount Copeland highlight significant REE and Nb potential across various zones. The 1973 Mo mine area features an Mo-Nb vein with extensive underground development. The West extension shows REE-Nb in syenite-carbonate breccia zones, while the East extension reveals REE-Nb in disseminated breccia and vein formations within a glacial ice basin, an area prone to avalanches and rockfalls. A notable geochemical analysis from 2010, conducted 400 meters east of the King Resources 1972-73 molybdenum mine site, reported high-grade REE concentrations in Sample #10AR-20: 13.1% Ce, 10.2% La, 1.77% Nd, 0.77% Pr, and 0.62% Zr. This sample was analyzed using lithium borate fusion with ICPMS finish at ALS Chemex Labs, North Vancouver, BC.
The property has a 1,828-meter-long tunnel, known as an adit, used for mining the Glacier (molybdenum) Zone in the 1970s. This adit is located 200 to 600 meters west of the Marble Breccia Zone and 400 meters east of the vein zone, providing access for the potential future underground development of these areas. The geochemical and petrology report, along with details of the adit, can be found at the following location: https://voltcarbontech.com/wp-content/uploads/2023/01/mtcopeland__report_2010.pdf. It should be noted that the mineral tenures referenced in the 2010 report have been reduced and modified (with intent to maintain the area of the known mineral zones).
Qualified Persons Statement
The technical content of this news release has been reviewed and approved by Andris Kikauka, P.Geo., a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Kikauka has over 30 years of experience in mineral exploration and is a member in good standing of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC).
Update to July 22nd Flow-Through Financing News Release
The July 22, 2024, news release stated that Finder Warrants are exercisable by each Finder at a price of $0.045. Each Finder Warrant has now been adjusted to an exercise price of $0.05. All other information in the July 22, 2024, press release remains the same.
About Volt Carbon Technologies
Volt Carbon is a publicly traded carbon science company, with specific interests in energy storage and green energy creation, with holdings in mining claims in the provinces of Ontario, Quebec and British Columbia in Canada. For the latest information on Volt Carbon's properties and news please refer to the website www.voltcarbontech.com.
On behalf of the Board of Directors,
Neither 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 this release.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Volt Carbon's business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "intends" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Such forward-looking statements include those with respect to: (i) initiation of its exploration program on the Mount Copeland Rare Earth Element (REE) property located in Revelstoke, British Columbia.; (ii) the sampling of the tailings pond which is believed to contain valuable REE (iii) re-sampling the West extension, the main target, which previously showed good width and elevated REE with magnetic minerals like Pyrrhotite and magnetite near the syenite contact, providing promising drill targets. and re-sampling efforts will extend to the high-grade area to the east where the glacier has receded, potentially revealing more accessible mineral deposits (iv) Historical geochemical analysis reports of REEs from previous drilling and rock samples initiated by the Company on Mount Copeland highlight significant REE and Nb potential across various zones. (v)
Statements of past performance should not be construed as an indication of future performance. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors, including those discussed above, could cause actual results to differ materially from the results discussed in the forward-looking statements. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement.
All of the forward-looking statements made in this press release are qualified by these cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release, and Volt Carbon assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities legislation.
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