Mr. Jack Bal reports
EQUITORIAL CONTINUES TO ENCOUNTER PEGMATITES AT ITS CAT LAKE LITHIUM PROPERTY, MANITOBA
Equitorial Exploration Corp.'s drill hole
CT-18-04 has encountered approximately 20 metres of the same pegmatite found 50 metres to the east at the original pegmatite discovery
(CT-18-02) at its 100-per-cent-owned Cat Lake lithium property in southeast Manitoba,
directly adjacent to the Cat Lake mineral project owned by QMC Quantum Minerals Corp.
CT-18-04 confirms the lateral extension of the pegmatite discovery.
Drill program update
As reported (news release
March 21, 2018), the drill program encountered approximately 36 metres (true width not determined at this time) of a spodumene-bearing pegmatite in DDH CT-18-02 at its 100-per-cent-owned Cat Lake lithium property, which is directly adjacent to the Cat Lake mineral project owned by QMC Quantum Minerals.
The new pegmatite discovery (DDH CT-18-02) was encountered approximately 126 metres downhole or 90 metres below the surface. Drill hole CT-18-04 encountered approximately 20 metres of the same pegmatite 50 m to the east of the original pegmatite discovery hole. This pegmatite was encountered approximately 105 m downhole or 72 m below the surface. CT-18-04 confirms the lateral extension of the pegmatite discovery.
The discovery drill hole was collared approximately 200 m southeast of the last surface exposure of the Irgon pegmatite. All drill holes of the pegmatite exploration program encountered varying degrees of pegmatites at different depths. The pegmatites encountered in the program were buried and had no known surface expression. The company is presently in the process of sampling the pegmatite intervals and will announce assay results once they are received and reviewed.
The last drill hole of the Lithium pegmatite exploration portion of the drill program has begun. The drilling has been focused on understanding the orientation and extent of the new pegmatite discovery. Additional metreage has been added to the program. The final portion of the drilling will test the skarn and old mine shaft located on the east side of the project area.
The drill program is headed up by Carey Galeschuk, PGeo, a consulting geologist with extensive experience in lithium-bearing pegmatites. He also serves as a qualified person for the purpose of National Instrument 43-101.
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);
- Present drill program has encountered numerous pegmatite in all drill holes;
- Property approximately 180 kilometres northeast of Winnipeg, Man.;
- Excellent infrastructure -- Provincial Highway 314 in southeastern Manitoba cuts through the property;
- Maps of the claims are available on-line.
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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