FIRST
ENERGY METALS CUTS
1.61 PERCENT LITHIUM OXIDE OVER 14 METERS IN CHANNEL SAMPLES FROM
AUGUSTUS LITHIUM PROPERTY
Vancouver,
B.C. (April
27th,
2021) -- InvestorsHub
NewsWire -- First
Energy Metals Ltd. (CSE: FE) ("First
Energy" or
the
"Company)
is pleased to announce another round of
assay results
from
channel sampling program at its Augustus Lithium Property in
Quebec, Canada. The channel samples
at the Beluga Pegmatite of the Canadian Lithium Prospect cut a
32-meter-wide section with an average of 0.74% lithium oxide
(Li2O) which includes 14
meters of spodumene pegmatite with 1.61 percent lithium oxide. Iron
content in samples is less than one percent and there are anomalous
values of other rare elements such as niobium and
tantalum.
Highlights
of Assays
(see Table 1 for details)
- Lithium oxide
(Li2O) values are in the
range of 0.02 percent (%) to 2.99% with an average of 0.74%
Li2O including a section
with 1.61% Li2O over
14m.
- Lithium (Li) values
are in the range of 90 ppm (parts per million) to 13,900 ppm
(1.39%) with an average of 3,432.64 ppm, including 14m section
having average of 7,471.43 ppm (0.74%).
- Beryllium (Be) values
are in the range of 15 ppm to 674 ppm with an average of 203.61
ppm.
- Niobium (Nb) is in
the range of 22.7 ppm to 328 ppm with an average of
83.16.
- Tantalum (Ta) is in
the range of 18.9 ppm to 385 ppm with an average of
74.38.
- Iron (Fe) is in the
range of 0.32% to 0.84% with an average of
0.57%.
- Cesium (Cs) is in the
range of 34.3 ppm to 120 ppm with an average of 83.19
ppm.
- Rubidium (Rb) is in
the range of 992 ppm 4,960 ppm with an average of 2,307
ppm.
The ground
exploration work has been continuous since February 2021 and its
purpose is to locate and confirm historical lithium pegmatite
occurrences on two lithium prospects (Augustus and Canadian Lithium
Prospects), to locate historical drill holes on the Property
completed in 1950's, and to support the ongoing drill
program. The pegmatite
outcrops are
exposed
using an excavator, and
several historical
drill hole casings were located which are
useful
guidelines for placing drill holes and mapping lithium pegmatites
on surface. The field exploration is continuous, and more channel
sampling is being carried out on the exposed outcrops.
The
surface channel sampling will also help in resource estimation to
tie up potential lithium pegmatite zones intercepted in drill holes
to the surface.
Gurminder Sangha, CEO
of First Energy Metals stated that, "The high-grade
channel sampling results are very encouraging and reflect of the
quality of lithium pegmatites on the Augustus Property. We have
created certain milestones for the project moving forward which
include completing 5,000 metres
drilling,
resource, estimation, and metallurgical testwork.
The Company has laid out 2021 exploration work program according to
these milestones".
A
report from
Fortune Business Insights projected that the Global Lithium Battery
Market for EV's is Projected to Exceed $82 Billion By 2027. The
global electric vehicle battery market size was USD 71.83 billion
in 2019 and is projected to reach USD 82.20 billion by 2027. The
Fortune Business report continued:
"Electric vehicles hold a significant emission advantage over the
conventional internal combustion engine vehicles attributed to the
lack of transit-related emissions and the potential to utilize and
develop renewable energy resources.
Furthermore,
the increasing awareness regarding climate change has compelled
policymakers to implement stringent fuel economy regulations and
actively promote the development of electric vehicles via
initiatives such as incentivizing cell manufacturing for batteries.
Hence, vehicular emission concerns are anticipated to propel the
adoption of EVs which would boost the growth of the market of
electric vehicle battery."
(https://www.prnewswire.com/news-releases/global-lithium-battery-market-for-evs-projected-to-exceed-82-billion-by-2027-301231936.html)
Each channel
sample from this work
represents
one
meter long, 5 cm wide and
3-5 cm deep cut in bedrock. The samples were bagged and tagged
using best practices and were delivered to Activation Laboratories
("ACTLABS"), Ancaster, Ontario for sample preparation and
analyses using laboratories
code Ultratrace
7
as
summarized below. ACTLABS is
an
independent commercial,
accredited ISO Certified Laboratory.
Code
Ultratrace
7 – Peroxide Fusion – ICP and ICP/MS
Samples are fused
with sodium peroxide in a Zirconium crucible. The fused sample is
acidified with concentrated nitric and hydrochloric acids. The
resulting solutions are diluted and then measured by ICP-OES and
ICP-MS. All metals are solubilized.
ICP-MS
Fused samples are
diluted and analyzed by Agilent 7900 ICP-MS. Calibration is
performed using five synthetic calibration standards. A set of
(10-20) fused certified reference material is run with every batch
of samples for calibration and quality control. Fused duplicates
are run every 10 samples.
ICP-OES
Samples are analyzed
with a minimum of 10 certified reference materials for the required
analytes, all prepared by sodium peroxide fusion. Every
10th
sample is
prepared and analyzed in duplicate; a blank is prepared every 30
samples and analyzed. Samples are analyzed using a Varian 735ES ICP
and internal standards are used as part of the standard operating
procedure. Source:
https://actlabs.com/geochemistry/lithogeochemistry-and-whole-rock-analysis/peroxide-total-fusion/
Afzaal
Pirzada,
P.Geo.,
Geological Consultant
of the Company, and a "Qualified Person" for the purposes of
National Instrument 43-101 - Standards
of Disclosure for Mineral Projects, has reviewed and
approved the scientific and technical information contained in this
news release.
About
the Augustus Lithium
Property
The Company owns 100%
interest in Augustus Lithium Property in Landrienne
&
Lacorne-Townships,
Quebec, Canada. The
Property
consists
of 271 mining claims covering a total area
of 14,155
hectares
located approximately 40
kilometres northwest of the town of Val d'Or on map
sheets 32C/05
and
32D08. The newly acquired
Property claims are spread in several claim blocks optioned in 2021
from different vendors. The Company has
prepared a well thought out work plan on the property which
includes diamond drilling, metallurgical testwork
to
produce battery grade lithium carbonate, and resource
estimation. To date, the Company
has compiled historical drill hole data on the Property for 74
historical dill holes with a cumulative drilling
of 12,123.14 m, out which 6,024 m drilling was completed on the
Property during 1950s. Several drill hole results indicated
intersections over 1% lithium oxide. All this data will help in the
current exploratory drill program and building a data base for NI
43-101 resource estimation".
About
First Energy Metals Limited.
First Energy Metals
is a Canadian mineral exploration company with a primary focus of
acquiring a multicommodity mineral property portfolio. Its goal is
to identify, acquire and explore North American mineral prospects
in the technology
metals, precious
metal, and
base
metal sector.
The company's
strategy is to:
-
Acquire
and advance projects through prospecting and early-stage
exploration;
-
Source
joint venture partners to finance future exploration and
project development;
-
Create
shareholder value through exploration success.
First Energy will
continue to add to its multicommodity portfolio through organic
acquisitions of new projects and opportunities with the intention
of adding value and projects over time.
ON BEHALF OF THE
BOARD OF
FIRST
ENERGY METALS LTD.
"Gurminder Sangha"
Gurminder
Sangha
Chief Executive
Officer &
Director
For further
information, please contact the Company at:
gsangha@firstenergymetals.com or (604)
375-6005
Neither the
Canadian Securities Exchange
(CSE)
nor its Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this news release and has neither approved
nor disapproved the contents of this news release.
Forward-looking
Information
Except
for the statements of historical fact, this news
release contains
"forward-looking
information"
within the meaning of the applicable Canadian
securities legislation
that is based on expectations, estimates and projections as at the
date of this news release. "Forward-looking information" in this
news release includes information about the Company's information
concerning the intentions, plans and future
actions
of the parties to
the
transactions described herein and
the
terms thereon.
The
forward-looking information in this news release reflects the
current expectations, assumptions and/or beliefs of the Company
based on information currently available to the Company. In
connection with the forward-looking information contained in this
news release, the Company has made assumptions about the Company's
ability to obtain required approvals. The Company has also assumed
that no significant events occur outside of the Company's normal
course of business. Although the Company believes that the
assumptions inherent in the forward-looking information are
reasonable, forward-looking information is not a guarantee of
future
performance
and accordingly undue reliance should not be put on such
information due to the inherent uncertainty therein.
Forward-looking
Information
Except
for the statements of historical fact, this news
release contains
"forward-looking
information"
within the meaning of the applicable Canadian
securities legislation
that is based on expectations, estimates and projections as at the
date of this news release. "Forward-looking information" in this
news release includes information about the Company's information
concerning the intentions, plans and future
actions
of the parties to
the
transactions described herein and
the
terms thereon.
The
forward-looking information in this news release reflects the
current expectations, assumptions and/or beliefs of the Company
based on information currently available to the Company. In
connection with the forward-looking information contained in this
news release, the Company has made assumptions about the Company's
ability to obtain required approvals. The Company has also assumed
that no significant events occur outside of the Company's normal
course of business. Although the Company believes that the
assumptions inherent in the forward-looking information are
reasonable, forward-looking information is not a guarantee of
future
performance
and accordingly undue reliance should not be put on such
information due to the inherent uncertainty therein.