10:42:52 EDT Mon 20 May 2024
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Comet Lithium Corp
Symbol CLIC
Shares Issued 18,724,693
Close 2023-07-14 C$ 0.37
Market Cap C$ 6,928,136
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Comet Lithium delays Liberty summer exploration

2023-07-17 13:12 ET - News Release

Mr. Sylvain Champagne reports

COMET LITHIUM HIGH RESOLUTION SATELLITE IMAGES FROM LIBERTY PROPERTY SUPPORT BROAD LITHIUM CORRIDOR

The high-resolution satellite imagery compilation over Comet Lithium Corp.'s 100-per-cent-owned Liberty property in James Bay, Quebec, further supports its recent magnetic results indicating a structural connection between Liberty and Winsome Resources' emerging deposit at its Adina project contiguous to the western border of Liberty.

Detailed interpretation of the filtered 50 centimetres infrared images supports the structural interpretation. In addition, filtering of the images has allowed Comet Lithium to visualize the regional structural grain and the important cross cutting structures, as they likely represent expansion joints allowing pegmatite intrusions.

Satellite Imagery Highlights - Liberty

Five primary regional structures located in the amphibolite unit are cross-cut by east-northeast structures;

Ten identified structural intersections along strike with the Adina system which could potentially host pegmatite intrusions have been added as primary targets for the upcoming inaugural exploration campaign;

The favorable structural setting at Liberty continues for over six kilometres to the northeast.

Mr. Martin Demers, P.Geo., Comet Lithium's Qualified Person, commented: "This satellite imagery compilation completed at Liberty adds yet another layer of evidence that Liberty and Adina together may form a remarkable corridor. Some structural features in combination with magnetic contrasts will be investigated for potential pegmatite veins under the overburden blanket."

Mr. Demers added, "Liberty has never been previously drilled or systematically explored, so the continuity of the structural footprint associated with the Winsome's Adina pegmatite as identified on the Liberty property are extremely encouraging."

Exploration Update

Comet Lithium wishes to provide an update on its summer exploration program and the Quebec fire situation. Due to the restrictions on accessing forests in Crown lands and closed forestry roads imposed by the Ministere des ressources naturelles et des Forets of Quebec (the "MRNF") and helicopter unavailability, the Company's summer exploration program at its Liberty property has been delayed. The Company wishes to reassure shareholders that it will be commencing its exploration programs at Liberty and deploy its exploration crews as soon as practicable after the restrictions imposed by the SOPFEU, MRNF and other local authorities will be lifted and the situation with helicopter availability will resume. The Company will continue to actively monitor the situation daily with its focus centered on the health and safety of the local community and will keep investors updated.

Comet has maintained the relationship with its contractors and consultants and plans to begin the first exploration program on the Liberty Property as soon as conditions permit. The main objective of this first phase will be the concentrated prospecting and sampling of bedrock and glacial boulders in the extension of the Adina trend.

Q u alified Person

Martin Demers, P. Geo (ogq #770, APEGNB L5980, PGO #3785), registered in the Provinces of Quebec, New-Brunswick, and Ontario a consultant to Comet Lithium, is a qualified person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. He has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.

About Comet Lithium Corporation

Comet Lithium is a dynamic lithium-focused exploration company active in the prolific James Bay District of Quebec. Comet Lithium's flagship asset is its 100%-owned Liberty Property contiguous to Winsome Resources' Adina deposit, a growing high-grade discovery. Comet Lithium is advancing Liberty to first-ever drilling.

We seek Safe Harbor.

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