Mr. Mark Ferguson reports
ARBOR METALS SECURES JARNET LITHIUM PROJECT, IN QUEBEC, CANADA
Arbor Metals Corp. has been granted the right to acquire the Jarnet lithium project, located in the James Bay region of Quebec, which consists of 47 map-designated claims, covering an area of approximately 2,430 hectares.
The Jarnet project is contiguous to the
Corvette-FCI property, where diamond drilling has confirmed significant lithium mineralization; hole (CF21-001) returned a 146.8-metre interval of near-continuous pegmatite, assaying 0.93 per cent Li2O (lithium oxide) and 114 parts per million Ta2O5
(tantalum pentoxide), including 1.09 per cent Li2O and 108 ppm Ta2O5
over 73.0 m, and 1.04 per cent Li2O and 145 ppm Ta2O5
over 54.6 m. This interval returned numerous samples over 2.0 per cent Li2O, including a peak assay of 4.16 per cent Li2O and 233 ppm Ta2O5
over 1.01 m (Nov. 29, 2021).
Preliminary interpretations of geophysics and geological data sets suggest that the Jarnet lithium project hosts extensions of lithium trend identified at the Corvette-FCI.
Mark Ferguson, president of the company, commented: "We are very pleased with the acquisition. The Jarnet lithium project is a great addition to Arbor's highly prospective projects around the world. The company is committed to identifying and advancing world-class projects that add significant value for the company's shareholders."
The right to acquire the Jarnet project was granted pursuant to a mineral property option agreement entered into with an arm's-length vendor. Under the terms of the option agreement, the company can acquire all rights to the project, subject to a 1-per-cent net smelter returns royalty on commercial production to be granted to the vendor, which can be purchased by the company at any time for a cash payment of $1-million. In order to exercise the option and acquire the project, the company must make a series of cash payments and incur work expenditures on the project over a three-year term.
Dr. Peter Born, PGeo, is the designated qualified person as defined by
National Instrument 43-101
and is responsible for, and has approved, the technical information contained in this release.
About Arbor Metals Corp.
Arbor Metal is a mining exploration company specializing in the development of high-value, geographic significant mineral projects around the world. A an industry leader, the company is paving the way for advanced mineral exploration as it oversees world-class mining projects. It believes a quality project combined with proven strategies and a professional team will deliver superior results.
We seek Safe Harbor.
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