ROUYN-NORANDA, QC, Oct. 24,
2023 /CNW/ - Comet Lithium Corporation (TSXV: CLIC)
(FRANKFURT: 8QY) ("Comet Lithium"
or the "Corporation") is pleased to announce the commencement of a
ground geophysical gravity survey at its 100%-owned Liberty
Property in James Bay, Québec,
Canada. The exploration crew is in
place to complete the gravity survey by mid November. Insights
generated from the gravity survey will assist the upcoming drill
program by generating strategic exploration targets. The gravity
survey will optimize pegmatite drill targets across Liberty for
phase one. This survey will complement the recently completed field
and soil sample program.
GRAVITY SURVEY APPROACH:
The ground gravity survey will be carried out by Val-d'Or, Québec based Géophysique TMC using a
Scintrex CG-6. The gravity survey will cover approximately
1.7 km2 following a 20m x 100m grid
pattern for a total of 778 stations. This gravity survey is
exploratory and aims to delimit the extents of the Winsome
Resources Adina pegmatite trend to the east inside the Liberty
Property. Comet Lithium will use the data from the gravity survey
to better interpret the subsurface geology and structures of the
Liberty Property, and detect potential pegmatite contacts in
amphibolitized basalt.
Mr. Mansoor Jan, Comet Lithium
Interim President & CEO, commented: "The gravity data will
greatly assist Comet Lithium's technical team with completing drill
targets for the inaugural drill program to validate the Adina
trendline at Liberty. This gravity survey adds another building
block to refine the targets and may further validate the evidence
that Liberty and Adina together may potentially be part of a
similar corridor".
Comet Lithium has engaged a Perth-based consultancy to assist in the
interpretation of data from the gravity survey and drill target
generation, as well as provide on-going technical guidance.
The Company also wishes to draw attention to Azimut Exploration
Inc.'s recent Lithium discovery, where they reported significant
intercepts of spodumene pegmatites from the maiden core drilling
program on the Galinée Property which is on trend and very close
to Comet's Liberty Property.
From Azimut's October 23, 2023:
"All drill holes carried out so far intersect spodumene pegmatites,
currently recognized over a distance of 400 metres laterally.
Intercepts of up to 78.4 metres in core length were observed in the
first four (4) holes totalling 1,252.8 metres. Additional,
prospecting results from a mineralized boulder field in the same
area (see press release of September 6,
2023) have yielded grades up to 4.09% Li2O."
Source:
https://www.azimut-exploration.com/site/assets/files/7138/azimut_pr_20231023.pdf
Qualified Person
Martin Demers, P. Geo (ogq #770,
APEGNB L5980, PGO #3785), registered in the Provinces of Québec,
New-Brunswick, and Ontario a consultant to Comet Lithium, is a
qualified person under National Instrument 43‑101 -
Standards of Disclosure for Mineral Projects. He has reviewed
the technical contents of this news release and has approved the
disclosure of the technical information contained herein.
About Comet Lithium Corporation
Comet Lithium is a dynamic lithium-focused exploration company
active in the prolific James Bay
District of Quebec. Comet
Lithium's flagship asset is its 100%-owned Liberty Property
contiguous to Winsome Resources' Adina deposit, a growing
high-grade discovery. Comet Lithium is advancing Liberty to
first-ever drilling.
Forward-Looking Statements
This news release contains statements that may constitute
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information may
include, among others, statements regarding the future plans,
costs, objectives or performance of Comet Lithium, or the
assumptions underlying any of the foregoing. In this news release,
words such as "may", "would", "could", "will", "likely", "believe",
"expect", "anticipate", "intend", "plan", "estimate" and similar
words and the negative form thereof are used to identify
forward-looking statements. Forward-looking statements should not
be read as guarantees of future performance or results, and will
not necessarily be accurate indications of whether, or the times at
or by which, such future performance will be achieved. No assurance
can be given that any events anticipated by the forward-looking
information will transpire or occur, including the exploration
programs, the results therefor and development (including results
from the geophysics gravity survey program, the identification of
drill targets and future drill program and other exploration
programs on the Liberty Property, or if it does so, what
benefits Comet Lithium will derive from the Liberty Property and
any such exploration programs. Forward-looking information is based
on information available at the time and/or management's good-faith
belief with respect to future events and are subject to known or
unknown risks, uncertainties, assumptions and other unpredictable
factors, many of which are beyond Comet Lithium's control. These
risks, uncertainties and assumptions include, but are not limited
to the risks relating to the capital market conditions, risk that
the Company might not be able to obtain the capital resources
necessary to complete a drill program or any exploration program on
the Liberty Property, as well those risks, uncertainties and
assumptions described under "Financial Instruments" and "Risk and
Uncertainties in Comet Lithium's Annual Report for the fiscal year
ended December 31, 2022, a copy of
which is available on SEDAR+ at www.sedarplus.ca, and could cause
actual events or results to differ materially from those projected
in any forward-looking statements. Comet Lithium does not intend,
nor does it undertake any obligation, to update or revise any
forward-looking information contained in this news release to
reflect subsequent information, events or circumstances or
otherwise, except if required by applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of the release.
SOURCE Comet Lithium Corp.