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Equitorial Exploration Corp
Symbol EXX
Shares Issued 72,043,571
Close 2018-03-19 C$ 0.065
Recent Sedar Documents

Equitorial Exploration begins drilling at Cat Lake

2018-03-19 10:38 ET - News Release

Mr. Jack Bal reports

EQUITORIAL DRILLING AT 100%-OWNED CAT LAKE LITHIUM PROPERTY, MANITOBA

Equitorial Exploration Corp. has drilled and logged the first hole of its aggressive 1,100-metre drill program at its 100-per-cent-owned Cat Lake lithium property directly adjacent to the Cat Lake mineral project owned by Quantum Minerals Corp.

Drill program summary:

  • 1,100-metre aggressive drill program of several holes;
  • First hole drilled and logged;
  • Three areas of interest:
    • Eastward extension of Quantum Minerals' Irgon pegmatite presently being explored by Quantum Minerals;
    • Follow-up of 1948 drill hole reported to have encountered 48 feet (approximately 14.63 metres) of spodumene (Manitoba government assessment file 98073; not National Instrument 43-101 compliant); no additional drilling in the area was completed;
    • Skarn associated with the Cat Lake mine/Lithium Corp.'s Cat Lake mine; minimal information on the old mine site;
  • The drill program is headed up by Carey Galeschuk, PGeo, a consulting geologist with extensive experience in lithium-bearing pegmatites. He also serves as qualified person for the purpose of NI 43-101.

Cat Lake lithium property highlights:

  • The property is situated directly east and along strike of Quantum Minerals' Cat Lake mineral project (previously Irgon lithium mine). During 1956 to 1957, the Irgon mine was an underground mining operation for spodumene (one of the hard-rock sources for lithium). The pegmatite had a historical estimate of 1.25 million tons of ore grading 1.51 per cent lithium oxide (Li2O) (mineral inventory file No. 221).
  • Equitorial's claim block is 150 metres from the south end of the Irgon lithium mine shaft approximately 93 metres east of the last exposed outcrop of the Irgon pegmatite.
  • A total of 48 feet of spodumene-bearing quartz were drilled in 1948; this was not followed up at the time (Manitoba assessment file 98073; not NI 43-101 compliant).
  • The property is approximately 180 kilometres northeast of Winnipeg, Man.
  • The property has excellent infrastructure; Provincial Highway 314 in southeast Manitoba cuts through the property.

QMC Quantum Minerals Corp.'s news release dated Sept. 7, 2017, reported: "Between 1953 and 1954, the Lithium Corp. of Canada Ltd. drilled 25 holes into the Irgon dike and reported a historical resource estimate of 1.2 million tons grading 1.51 per cent Li2O over a strike length of 365 metres and to a depth of 213 metres (Northern Miner, Vol. 41, No. 19, Aug. 4, 1955, page 3). This historical resource is documented in a 1956 assessment report by Bruce Ballantyne for the Lithium Corp. of Canada Ltd. (Manitoba assessment report No. 94932). This historical estimate is believed to be based on reasonable assumptions and the company/qualified person has no reason to contest the document's relevance and reliability."

The property lies within the east-trending Mayville-Cat-Euclid greenstone belt (MCEGB), located along the northern contact of the Maskwa Lake batholith. This northern greenstone belt has a similar structural geological setting as the Bird River greenstone belt (BRGB), which is located along the southern contact of the same batholith, and is parallel to and approximately 18 kilometres to the south of the MCEGB. The property is located 20 kilometres north of the Tanco mine property. The BRGB hosts the world-class Tanco rare-element-bearing pegmatite dike as well as numerous other lithium-bearing pegmatites. The Tanco mine went into production in 1969 and produced tantalum, cesium and spodumene (lithium). It was previously North America's largest and sole producer of spodumene (lithium), tantalite (tantalum) and pollucite (cesium).

About Equitorial Exploration Corp.

Equitorial is aggressively developing four 100-per-cent-owned, high-potential lithium projects in North America. The Little Nahanni pegmatite group (LNPG) is an NI 43-101-compliant, hard-rock lithium property in the Northwest Territories. The Cat Lake lithium property in Manitoba is directly adjacent to the Cat Lake mineral project, a highly prospective lithium property. The Tule and Gerlach lithium brine projects are located in lithium-rich Utah and Nevada, within easy reach of the Tesla Gigafactory No. 1.

We seek Safe Harbor.

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