Vancouver, British Columbia--(Newsfile Corp. - September 19, 2024) - Medaro Mining Corp.(CSE: MEDA) (OTC Pink: MEDAF) (FSE: 1ZY) ("Medaro" or the "Company") is pleased to announce the commencement of a diamond drilling program (the "Program") on the Company's Lac La Motte lithium property, located in the Val-d'Or area of Quebec, Canada (the "Property"). The Company has engaged Forage Pelletier Ltd., based in Chapais, Quebec, to conduct the Program, which is expected to consist of 1,000 to 1,500 meters of NQ size diamond drilling. Medaro may increase the meterage of the Program, depending on the availability of additional funds.
In 2023, Medaro completed a Satellite Imaging Technology (SIT) survey on the Property, which identified prospective lithium exploration targets running in a North/South direction along fault contact zones. This survey was aimed at locating the source of a spodumene-bearing pegmatite boulder discovered on the Property during prior fieldwork conducted by the Company in 2023, which returned an assay of 5,380 parts per million (ppm) lithium (equivalent to 1.15% lithium oxide). For more details with respect to the prior fieldwork and boulder, please see the Company's October 10, 2023 news release. A reconnaissance sampling program completed on the Property in May 2024 refined the selection of drill targets for the Program.
Figure 1: Map with Satellite imaging targets
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Commenting on the commencement of the Program, Medaro's CEO, Michael Mulberry said, "We are excited to launch this drilling program at Lac La Motte. Our earlier exploration work, including the discovery of high-grade lithium-bearing pegmatite boulder, has provided us with strong drill targets. The Program represents a critical next step in advancing the project as we work towards unlocking its full potential. The Val-d'Or region is known for its rich mineral resources, and we are optimistic about the opportunities that lie ahead."
Core Logging and Sampling Procedures
The drill core from the Program will be transported to a core shack located in the village of St-Dominique du Rosaire, which is approximately 50km from the Property, for core logging, sample preparation and storage. The drill core will be logged and sampled at the core shack using a rock saw. For quality control and quality assurance (QA/QC), field duplicates, standards and blanks will be inserted at industry standard intervals. The samples will be bagged and tagged using best practices and will be delivered to Activation Laboratories Ltd. ("ACTLABS") in Ancaster, Ontario for sample preparation and analyses using laboratories code Ultratrace 7 and sodium peroxide fusion (Na2O2). ACTLABS is an independent commercial accredited ISO Certified Laboratory.
Qualified Person
Afzaal Pirzada, P.Geo., a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
On Behalf of the Board of Directors
Michael Mulberry
CEO & Director
About the Company
The Company is an exploration company based in Vancouver, BC, and holds options over the Darlin, Rapide, Lac La Motte and CYR South lithium properties in Quebec and the Yurchison uranium property in the Athabasca basin, Saskatchewan. The Company owns the James Bay Pontax project in Quebec and the Superb Lake lithium property located in Thunder Bay, Ontario. The Company is a party to a joint venture agreement that engages the Company in the development and commercialization of a new process to extract lithium from spodumene concentrate.
For more information, investors should review the Company's filings that are available at www.sedarplus.ca.
Forward-Looking Statements
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 Program's composition and the timing thereof, the Program being a critical next step in advancing the Property, the Company working towards unlocking the Property's full potential and the core logging and sampling procedures that will form part of the Program, are "forward-looking statements." 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.
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