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Arctic Fox Lithium Corp
Symbol AFX
Shares Issued 61,715,714
Close 2024-04-08 C$ 0.02
Market Cap C$ 1,234,314
Recent Sedar Documents

Arctic Fox finds S-type pegmatites at Pontax North

2024-04-09 12:42 ET - News Release

Mr. Harry Chew reports

ARCTIC FOX DISCOVERS PROMISING LITHIUM AND RARE EARTH ANOMALIES AT PONTAX NORTH

Arctic Fox Lithium Corp. has released the results from its phase 1 exploration campaign at the Pontax North property located in the James Bay region of Quebec.

Highlights of the 2023 prospecting campaign:

  • The observation of large areas of white S-type pegmatites containing biotite-muscovite-garnets-tourmaline, attributed to the prolific Causabiscau suite hosting the James Bay lithium deposit;
  • The northeast part of the Pontax North property has emerged as a focal point of interest, boasting rare metals anomalies locally up to 100 times the average of the upper continental crust;
  • The identification of a lithium (Li) anomaly 5.3 times the average in upper continental crust and associated with niobium (Nb) and cesium (Cs).

The identification of pegmatites belonging to the Causabiscau suite in the northern part of the Pontax North property presents a significant opportunity for targeted exploration due to its strong association with critical and strategic metals. LCT (lithium-cesium-tantalum) pegmatites are typically hosted by mafic metavolcanics or metasedimentary rocks, and are located near peraluminous (S-type) granitic plutons. The identification of minerals such as muscovite, garnets and tourmaline confirms the peraluminous nature of the granitic units present on the Pontax North property, and further accentuates the exploration potential of the area. In addition, the clear coincident anomalies in beryllium (be), cesium, niobium and tantalum (Ta) observed in sample No. 100865 correspond to a typical signature of LCT pegmatites.

A lithium anomaly of 106 parts per million (ppm) Li was discovered in sample No. 100754 in the northwest part of the property within a dark coarse-grained rock containing more than 50 per cent biotite, that could correspond to a restite enclave.

Harry Chew, chief executive officer of Arctic Fox, states: "This is an important milestone for Arctic Fox as we unveil the results of our phase 1 exploration at Pontax North. The discovery of rare earth metals anomalies, notably lithium, alongside the confirmation of the Causabiscau suite, signals a promising start for Arctic Fox. These findings underscore the geological potential of the Pontax North property and reaffirm our dedication to methodical exploration. Moving forward, we remain committed to responsible practices and continued research, as we strive to uncover the full potential of this area."

While the northern half of the Pontax North property is predominantly composed of large masses of white granitic pegmatite interpreted as a product of partial melting of paragneiss, the identification of diatexites in the host rock suggests locally high degrees of partial melting further enhancing the prospects for rare earth metals. Notable characteristics of fertile S-type pegmatites have also been observed by field crews in 2023, including coarse to blocky crystals of microcline, plagioclase and quartz with frequent graphic intergrowths, as well as the occasional presence of muscovite, garnets and tourmaline.

The presence of coincident Be-Cs-Ta-Nb-Rb (rubidium) anomalies are a definitive indicator of the rare-element potential of the system.

The company has also completed a detailed compilation of the lidar (light detection and ranging) completed last fall and the high-resolution magnetic data from Quebec's Ministry of Energy and Natural Resources (MERN), which revealed compelling geophysical features on the Pontax North property, suggesting the presence of unmapped diabase dikes and potential east-northeast pegmatite swarms pointing to the Causabiscau suite below overburden. This, coupled with the recent results, underscores the importance to further explore the Pontax North property. The 2024 exploration program of Arctic Fox properties is currently in the planning stages.

Work was also carried out on the Kana Lake and Delta Lake properties.

Delta Lake:

  • The lithologies observed on the Delta Lake property are mainly dark, massive and aphanitic, to fine-grained, locally plagioclase-porphyritic amphibolites. Weak to strong chloritization and epidotization are locally observed. Some finely bedded sediments (greywacke/siltstone) were observed in the central part of the property, while tonalite was observed in the southwestern part with limited pegmatite and aplite injections. Massive medium-grained diorite with weak chloritization was observed in the southeastern part of the property.
  • The only pegmatite observed throughout the 2023 campaign on the Delta Lake property was situated in outcrop No. BM-23-023 hosted in a medium-grained tonalite. A 15-centimetre (cm)-wide beige-pinkish pegmatitic dike oriented North 140/minus-80 was sampled, however this dike does not correspond to the S-type ones we are searching for in rare metals exploration.
  • Two outcrops of particular interest for gold and base metals were observed: (1) A quartz-carbonate stockwork filling was observed in a hydrothermal breccia zone within amphibolites at outcrop No. BM-23-147. The chloritization and silicification of the host rock proves that strong fluid circulation occurred. Sample No. 100828 taken from a 0.3 m wide east-southeast-oriented vein was sampled; (2) Py-Po-Cp (pyridine-polonium-copernicium) mineralization was observed within sediments at outcrop No. BM-23-153. The style of mineralization indicates base metals sulphide remobilizations from a parent source. Sample No. 100829 was collected from that outcrop.
  • Unfortunately, no rare earth anomaly was observed on the two samples assayed for rare metals, and no gold anomaly was observed on the six samples assayed for precious metals. However a combined anomaly of 1.26 parts per million (ppm) silver (Ag) and 1,605 ppm copper (Cu) was observed on sample No. 100829 where pyrite, chalcopyrite and malachite were observed.

Kana Lake:

  • The lithologies observed on the Kana Lake property were mainly medium-grained white-to-pinkish felsic intrusive rocks identified as tonalites/granodiorites and anatectic granites, with local pegmatitic pockets. Pink intrusives are related to the granodiorites and granites of the Janin suite. These rocks usually contain more than 30 per cent alkali feldspar, 20 per cent to 40 per cent grey quartz and 1 per cent to 15 per cent biotite, with local pegmatitic pockets. White intrusives units of the Gladman suite, however, locally expose muscovite, red garnets and tourmaline, which attests of a peraluminous (S-type) composition. These pegmatites are therefore considered as highly prospective for lithium and rare metals mineralization. Light to strong hematization is also locally observed giving the rock a pinkish to reddish colour.
  • Isolated anomalies were locally observed in the 2023 samples but no coincident anomaly, suggesting the presence of a LCT pegmatite signature. A 76 ppm Li anomaly was observed in a coarse-grained tonalite pocket containing up to 2 per cent of small red garnets (sample No. 108023) in the northern part of the property. That area of the property is also characterized by a rubidium background noise higher that the rest of the property (300 ppm to 400 ppm Rb). Slight Be and Cs anomalies are observed on two samples of white pegmatites (No. 100739 and No. 100740) collected a few metres from each other, in the southeastern part of the property.

Over all, the Kana Lake property hosts a favourable geological environment for continued exploration, as fertile pegmatites often present white and blocky K-feldspar with frequent graphic intergrowths with quartz, both of which were observed on the Kana Lake property. In addition, the weak lithium anomaly observed in sample No. 108023 is an indicator of the fertility potential of the paragneiss-pegmatite system for lithium mineralization in that area.

The company also wishes to announce the appointment of Benjamin Mougin, PGeo, MSc, as its qualified person (QP) as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Mougin is a member in good standing of the Ordre des Geologues du Quebec (OGQ) and is an independent consultant, providing his expertise in geoscientific data compilation, property evaluations, exploration recommendations, fieldwork, quality assurance/quality control (QA/QC) surveying and report writing. He has a master degree (DESS) in mineral resources and geodynamics from Orleans University (France), as well as a master degree (DESS) in exploration and management of non-renewable resources from Universite du Quebec a Montreal (UQAM).

Gerald G. Carlson has tendered his resignation as director, vice-president of exploration and QP to the company, effective immediately. The company wishes to thank Mr. Carlson for all his efforts and expertise in assisting the company in the past, and wishes him the best of luck in his retirement. At this time, the board of directors are interviewing suitable candidates to fill the vacancy left by Mr. Carlson.

In addition, the company has granted one million incentive stock options to directors, officers, employees and consultants of the company. Each option is exercisable for one common share in the capital of the company at an exercise price of three cents. The options will expire five years from the date of issuance and vest immediately.

About Arctic Fox Lithium Corp.

Established in Vancouver, B.C., Arctic Fox is a Canadian junior mining exploration company founded by an experienced management team to assess and grow its portfolio into a leading company in lithium and rare earth elements. Through targeted exploration and intentional research, Arctic Fox is bringing a trustworthy lens to the development of sought-after resources from multiple projects in Canada, focusing on properties in the mining-friendly province of Quebec.

The technical information contained within this news release has been reviewed and approved by Mr. Mougin, PGeo, MSc, and qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

We seek Safe Harbor.

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