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Equitorial Exploration Corp
Symbol EXX
Shares Issued 72,043,571
Close 2018-03-20 C$ 0.10
Recent Sedar Documents

Equitorial drilling hits 36 m of pegmatite at Cat Lake

2018-03-21 09:32 ET - News Release

Mr. Jack Bal reports

EQUITORIAL ENCOUNTERS 36M PEGMATITE AT CAT LAKE LITHIUM PROPERTY, MANITOBA

Equitorial Exploration Corp.'s drill hole CT-18-02 encountered approximately 36 metres of a spodumene-bearing pegmatite in core at its 100-per-cent-owned Cat Lake lithium property in southeastern Manitoba, directly adjacent to the Cat Lake mineral project owned by QMC Quantum Minerals Corp.

Drill program update

Drill hole CT-18-02 is the second drill hole of the company's aggressive 1,100-metre drill program. Drill hole CT-18-02 was positioned to intersect a possible extension of the Irgon pegmatite system, presently being explored by QMC Quantum Minerals to the west of the company's claims.

The drill hole encountered approximately 36 metres of a spodumene-bearing pegmatite (true width not determined at this time) at a depth of 126 metres downhole or 90 metres below the surface.

The hole was collared approximately 200 metres southeast of the last surface exposure of the Irgon pegmatite. Prior to being drilled, this pegmatite was buried with no surface expression.

The next few drill holes will focus on defining the orientation and extent of the newly discovered pegmatite.

The company is presently in the process of sampling the new pegmatite and will announce assay results once they are received and reviewed.

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 National Instrument 43-101.

Jack Bal, chief executive officer, commented: "The discovery of this new pegmatite at depth may be a part of the Irgon Pegmatite system or represent a totally new pegmatite system. Either scenario adds significant value to Equitorial's Cat Lake property and to the company as a whole. We will continue to enlarge our understanding of this new discovery."

Cat Lake lithium property highlights:

  • Property 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 Li); the pegmatite had a historical estimate of 1.25 million tons of ore grading 1.51 per cent Li2O (mineral inventory file No. 221);
  • Equitorial claim block 150 metres from south end of Irgon lithium mine shaft and approximately 93 metres east of the last exposed outcrop of the Irgon pegmatite;
  • 48 feet of spodumene-bearing quartz were drilled in 1948 on the company's present claims but not followed up at the time (Manitoba assessment file 98073 -- not National Instrument 43-101 compliant);
  • Property approximately 180 kilometres northeast of Winnipeg, Man.;
  • Excellent infrastructure -- Provincial Highway 314 in southeastern Manitoba cuts through the property.

QMC Quantum Minerals' Cat Lake mineral project

QMC Quantum Minerals' 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, Canada, 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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