Vancouver, British Columbia--(Newsfile Corp. - November 7, 2024) - SPOD LITHIUM CORP. (CSE: SPOD) (OTCQB: SPODF) (the "Company" or "SPOD") is pleased to announce the company has recently received required permits to commence its drilling program on the MegaLi and Lithium Grande 4 ("LG4") projects. The MegaLi and LG4 properties consist of six claim blocks adjacent to Patriot Battery Metals Inc.'s Shaakichiuwaanaan project located in the James Bay area of Quebec, Canada.
The fully funded, initial drill program will consist of a minimum of 10 drill holes for a total of about 1,500 m. The work will target Block "A" and Block "D" on the LG4 property and Block "C" on the MegaLi property. The drill program is to follow up on two successful phase 2 field programs of soil and rock sampling which identified pegmatite trends, zoned internal structures and accessory minerals such as beryl and tourmaline. Gold anomalies were also identified and associated with pegmatite contacts.
Mathieu Couillard, SPOD's CEO commented, "The team is excited to follow up on these prospective targets identified through a successful summer field program to discover more pegmatites and propel the company forward. This is a positive step for SPOD as we continue exploration in a region known for its lithium potential".
The geology team and drilling contractors have moved to the site area, and drilling is expected to start next week.
Figure 1- Property location (satellite and regional geology) map with soil sampling
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Qualified Person
Julien Davy, P.Geo., M.Sc, MBA, consultant geologist of SPOD, is qualified person under National Instrument 43-101 on standards of disclosure for mineral projects, and has prepared, supervised and approved the technical information in this news release.
About SPOD Lithium Corp.
SPOD Lithium Corp. is a leading exploration and development company focused on unlocking the vast potential of lithium resources. With a strategic approach to resource management and a commitment to sustainable practices, SPOD is dedicated to driving innovation and delivering value for its stakeholders. Founded in 2020, its primary lithium properties are strategically located in Quebec and Ontario, Canada, regions renowned for their rich deposits of these valuable resources. For further information, please refer to the Company's disclosure record on SEDAR+ (www.sedarplus.ca) or contact the Company through its website at www.spodlithiumcorp.com.
Stay connected with SPOD
Website: www.spodlithiumcorp.com
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Forward-Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The CSE has not reviewed, approved or disapproved the contents of this news release.
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