16:57:12 EST Wed 06 Nov 2024
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Arctic Fox Lithium Corp
Symbol AFX
Shares Issued 66,815,714
Close 2024-09-30 C$ 0.015
Market Cap C$ 1,002,236
Recent Sedar Documents

Arctic Fox to start phase 2 exploration at Pontax

2024-10-03 16:12 ET - News Release

Mr. Harry Chew reports

ARCTIC FOX ANNOUNCES PHASE 2 EXPLORATION PROGRAM AT PONTAX NORTH

Arctic Fox Lithium Corp. will be commencing its phase 2 exploration campaign at the Pontax North property, located in the James Bay region of Quebec. Building on the successful outcome from phase 1, the next phase will target three primary areas of interest for an intensive stripping and sampling program.

Phase 2 exploration program details

Following the identification of both a promising geological context and rare metals anomalies after the 2023 and early 2024 exploration programs, the exploration team will now focus on the most prospective areas highlighted to date.

The overall objective of the phase 2 program is to further delineate and evaluate the mineral potential of these high-priority areas through targeted stripping and detailed geological mapping and sampling.

Six targeted outcrops over three high-priority areas will therefore undergo further evaluation:

  1. Area 1: A region highlighting significant anomalies in cesium, niobium, beryllium and tantalum, which align with signatures of LCT (lithium-cesium-tantalum) pegmatites.
  2. Area 2: A high-potential zone featuring white biotite-garnet bearing pegmatites, closely associated with rare metal anomalies up to 106 ppm (parts per million) Li and 11.2 ppm Cs discovered during phase 1.
  3. Area 3: A high-potential zone featuring biotite-muscovite-garnet bearing pegmatites, closely associated with lithium anomalies up to 54 ppm Li discovered during phase 1.

The phase 2 exploration program is scheduled to begin in the coming week and is expected to take 10 to 15 days to complete.

Harry Chew, chief executive officer of Arctic Fox, commented: "Our phase 1 exploration results have highlighted strong indicators of the potential for lithium and other strategic minerals on the Pontax North property. As we get ready for phase 2, our focus will be on these three key areas, where the geological conditions are favorable. We are confident that this next phase of exploration will bring us a deeper understanding of the property's full potential."

About Arctic Fox Lithium Corp.

Arctic Fox Lithium is a junior mineral exploration company focused on the acquisition and development of mineral properties containing battery, base and precious metals.

The company's 2,756-hectare Pontax North lithium project is located 12 kilometres south of Allkem Ltd.'s James Bay lithium project and 12 km north of Stria Lithium Inc.'s Pontax lithium project, located in Northern Quebec, approximately 130 km east of James Bay and the Cree Nation's Eastmain community.

The northern portion of Pontax North contains a lithium prospective zone in a similar geological environment to Allkem's project. According to the Quebec Ministere de l'Energie et des Ressources Naturelles (MERN) the Causabiscau suite is characterized by the abundance of S-type pegmatitic granite intrusions, a lithology known for its Be (beryllium), Li, Cs, Nb (niobium) and Ta (tantalum) potential. Beryl (a beryllium silicate mineral) is reported in several outcrops within this zone. The property is known to contain a 10-kilometre-long pegmatite trend as mapped by MERN. This trend appears to be underexplored, despite its recognized lithium potential. Swarms of lithium-bearing granitic dikes are present 12 km north of the property at Allkem's Cyr deposit and at Stria Lithium's Pontax deposit 12 km to the south.

* This news release contains information about adjacent properties on which Arctic Fox has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the company's properties.

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

© 2024 Canjex Publishing Ltd. All rights reserved.