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Equitorial Exploration Corp
Symbol EXX
Shares Issued 72,043,571
Close 2018-04-17 C$ 0.08
Recent Sedar Documents

Equitorial completes drilling program at Cat Lake

2018-04-17 11:37 ET - News Release

Mr. Jack Bal reports

EQUITORIAL COMPLETES DRILL PROGRAM AT CAT LAKE LITHIUM PROPERTY, MANITOBA

Equitorial Exploration Corp. has completed drilling at its Cat Lake project and the core samples are being processed and sent for assay.

Drill program highlights:

  • Seven holes, 1,256 metres drilled;
  • Six drill holes tested positive for the pegmatite potential;
    • Main spodumene-bearing pegmatite encountered in three of the six drill holes;
  • Main pegmatite of interest intersected at approximately 138 metres downhole or 120 metres below surface;
  • Main spodumene-bearing pegmatite approximately 33 metres in width (true width not determined);
  • Pegmatite system proven to continue horizontally and vertically;
  • Drill hole CT-18-06 was drilled to test the down dip of the initial pegmatite discovery.

Drill program update

A total of 1,256 metres were completed in the program consisting of seven drill holes, with six drill holes testing for the pegmatite potential of the property. Numerous pegmatites were encountered in all the holes with a main spodumene-bearing pegmatite encountered in three of the six drill holes. Prior to being drilled, this pegmatite was buried with no surface expression.

Drill hole CT-18-06 was the last hole of the pegmatite exploration portion of the drill program and was drilled to test the down dip of the initial pegmatite discovery. Several pegmatites were encountered in the hole. The main pegmatite of interest was intersected at approximately 138 metres downhole or 120 metres below the surface. The main spodumene-bearing pegmatite is approximately 33 metres in width (true width not determined at this time). The pegmatite system has been proven to continue both horizontally and vertically.

Future exploration will be considered in the area once the assays are returned for the program. The last drill hole tested the old Cat Lake shaft into a mineralized skarn and encountered approximately 80 metres of alteration and sulphide mineralization. Assay results will be reported once received and reviewed.

The drill program was supervised 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.

Cat Lake lithium property highlights:

  • Property situated directly east and along strike of Cat Lake mineral project (owned by QMC Quantum Minerals Corp. and previously known as the 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 an estimate of 1.25 million tonnes of ore grading 1.51 per cent lithium dioxide (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.
  • Forty-eight feet of spodumene-bearing quartz were drilled in 1948 on the company's present claims, but not followed up at the time.
  • The property is approximately 180 kilometres northeast of Winnipeg, Man.
  • Excellent infrastructure -- Highway 314 in southeast Manitoba cuts through the property.

Cat Lake mineral project

QMC Quantum's news release dated Sept. 7, 2017, reported: "Between 1953 to 1954, the Lithium Corporation of Canada Ltd. drilled 25 holes into the Irgon dike and reported a historical resource estimate of 1.2 million tonnes grading 1.51 per cent Li2O over a strike length of 365 metres and to a depth of 213 metres. This historical resource is documented in a 1956 assessment report by Bruce Ballantyne for the Lithium Corporation of Canada. 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 (Li), tantalite (Ta) and pollucite (Cs).

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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