NEW YORK, NY -- February 23, 2024 -- InvestorsHub NewsWire --
CGrowth Capital Inc. (OTC:
CGRA) is a public holding company for alternative and
undervalued assets. The company is sector and industry agnostic and
currently consists of two divisions including Mining and Sports
Technology. The company is focused on investing in growth-oriented
opportunities where the company's capital,
expertise, and capabilities can help create significant added value
for shareholders.
CGRA Mining Inc. is excited to announce the successful
completion of field mapping and sampling aimed at determining the
potential for Lithium (Li) deposits on selected prospecting
concessions owned by CGRA in the Dodoma Region of Tanzania.
Following the appointment of Metminec (Pty) Ltd to execute
this exploration project, the work has now been independently
verified by competent persons in accordance with the industry
standards of JORC, SAMREC, and NI 43-101. The comprehensive Geology
Report, along with the Magnetic Data Processing &
Interpretation Report, is now available for review on the CGRA
Mining website.
During the field mapping phase, thirty-two rock samples were
collected and subsequently submitted to the SGS Laboratory in
Mwanza, Tanzania, for geochemical analysis using ICP-OES
(Inductively Coupled Plasma Optical Emission Spectrometry). The
primary objective of this analysis was to determine the presence of
economically significant elements, particularly lithium, within
these rock types. To date, analytical results for twenty-four
samples have been received, revealing that twenty-two contain
traces of lithium, with the highest recorded content at 44 parts
per million (ppm). Additionally, most samples have shown ratios
indicative of potential rare element enrichment, further
underscoring the area's potential for lithium extraction.
This discovery is particularly significant, as the concession
area is characterized by pegmatites, geological formations renowned
for their capacity to host substantial deposits of spodumene.
Spodumene, a critical lithium aluminum inosilicate mineral, is one
of the most concentrated sources of lithium, making it highly
sought after for extraction. Its extractive efficiency gives it a
notable advantage over other lithium sources, such as lithium
brines. Unlike these other sources, spodumene can be mined and
processed in a more straightforward and predictable manner, making
the mining process well established and preferable for lithium
extraction.
Encouragingly, the positive samples collected span both the
southern and northern portions of the project area, suggesting a
widespread dispersion of lithium across the entire project. This
uniform distribution is a positive indicator of the extensive
presence of lithium-bearing rock, enhancing the potential for a
sizeable and economically viable resource. Further detailed
exploration and analysis will now be undertaken to assess the full
scope of this promising distribution and to ascertain the precise
grade and volume of the potentially hugely significant lithium
deposit that has been uncovered.
Following Metminec's recommendation, the positive samples have
been dispatched to South Africa for further analysis at the SGS
Laboratory, utilizing the ICP-MS (Inductively Coupled Plasma Mass
Spectrometry) instrument. This advanced technique is expected to
provide a deeper analysis of the collected samples, ensuring the
highest levels of precision. Additionally, SGS has been requested
to employ XRD (X-ray Diffraction) analytical techniques to further
assist in the identification and quantification of the minerals
within the provided rock samples.
"The results announced today not only justify the unwavering
belief management has held in this project from the outset but also
bring immense satisfaction as this belief is now supported by
concrete, undeniable, and unquestionable evidence. This milestone
is a testament to our team's dedication and the potential we
envisioned from the very beginning of this project. These findings
are particularly encouraging, given that they have been obtained
from only 10% of our overall tenement area, which in total spans
more than 500 square kilometers. This early success hints at the
vast potential that remains untapped across the larger concession,
underscoring the need for further exploration. Moreover, this
exciting hard rock spodumene discovery, coupled with the resurgence
in the lithium sector, instils great confidence in our team and
highlights the exceptional potential this project has. In response
to this significant milestone, we have instructed the Metminec team
to immediately undertake follow-up sampling and drilling at the
locations showing the highest traces of lithium and to continue
working towards the completion of our Preliminary Economic
Assessment during Q2 of this year," commented Nicolas Link,
Chairman of CGrowth Capital Inc.
For regular CGrowth Capital (CGRA) updates, you are invited to
view the company's website and/or to follow
the company's Twitter account:
Website: https://cgrowthcapital.com
Twitter: @CGRAOTC
Contact: info@cgrowthcapital.com
Source : CGRA
Forward-Looking Statement
Certain information set forth in this press release contains
"forward-looking information", including "future-oriented financial
information" and "financial outlook", under applicable securities
laws (collectively referred to herein as forward-looking
statements). Except for statements of historical fact, the
information contained herein constitutes forward-looking statements
and includes, but is not limited to, the (i) projected financial
performance of the Company; (ii) completion of, and the use of
proceeds from, the sale of the shares being offered hereunder;
(iii) the expected development of the Company's business, projects,
and joint ventures; (iv) execution of the Company's vision and
growth strategy, including with respect to future M&A activity
and global growth; (v) sources and availability of third-party
financing for the Company's projects; (vi) completion of the
Company's projects that are currently underway, in development or
otherwise under consideration; (vi) renewal of the Company's
current customer, supplier and other material agreements; and (vii)
future liquidity, working capital, and capital requirements.
Forward-looking statements are provided to allow potential
investors the opportunity to understand management's beliefs and
opinions in respect of the future so that they may use such beliefs
and opinions as one factor in evaluating an investment. These
statements are not guarantees of future performance and undue
reliance should not be placed on them. Such forward-looking
statements necessarily involve known and unknown risks and
uncertainties, which may cause actual performance and financial
results in future periods to differ materially from any projections
of future performance or result expressed or implied by such
forward-looking statements. Although forward-looking statements
contained in this presentation are based upon what management of
the Company believes are reasonable assumptions, there can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. The Company
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change
except as required by applicable securities laws. The reader is
cautioned not to place undue reliance on forward-looking
statements. The Securities and Exchange Commission ("SEC") has
provided guidance to issuers regarding the use of social media to
disclose material non-public information. In this regard, investors
and others should note that we announce material financial
information via official Press Releases, in addition to SEC
filings, press releases, Questions & Answers sessions, public
conference calls and webcasts also may take time from time to time.
We use these channels as well as social media to communicate with
the public about our company, our services, and other issues. It is
possible that the information we post on social media could be
deemed to be material information. Therefore, in light of the SEC's
guidance, we encourage investors, the media, and others interested
in our company to review the information we post on the following
social & media channels: Twitter: @CGRAOTC
CGrowth Capital (PK) (USOTC:CGRA)
Historical Stock Chart
From Mar 2024 to Apr 2024
CGrowth Capital (PK) (USOTC:CGRA)
Historical Stock Chart
From Apr 2023 to Apr 2024
