Identifies three highly prospective
geological wide spaced gold-in-till anomalies
ROUYN-NORANDA, QC, Nov. 13,
2024 /CNW/ - Comet Lithium Corporation (TSXV: CLIC)
(FSE: 8QY) ("Comet Lithium" or the "Corporation") is
pleased to announce the results of its large-scale surface
exploration program conducted at the Corporation's Troilus East
Property ("Troilus East Property"), located in the
Chibougamau region of Québec.
"We're excited by the potential we're seeing at Troilus East.
The summer exploration program successfully identified promising
targets on wide line spacing, laying the groundwork for more
focused and dense sampling in future phases," commented
Vincent Metcalfe, President &
CEO. "These anomalies are situated along a highly prospective
geological and structural trend, and we're eager to build on these
findings as we advance exploration at the Troilus East
Property."
Exploration Program Highlights:
- Three gold-in-till anomalies identified along interpreted
geophysical structure, on trend with the Parker intrusion
contact (Figure 2)
- Cluster of outcrop rock samples ranging from 0.055 g/t to
0.224 g/t (Figure 3)
Troilus East 2024 Exploration Program
The 2024 exploration program at the Troilus East Property
included detailed glacial till geochemical surveys and prospecting
efforts targeting gold, copper, and lithium mineral systems. The
exploration activities were carried out between August 16 and August 29, 2024.
The till sampling program focused on both regional and in-fill
sampling:
- Coverage: ~9,000 hectares, with 500-metre line spacing
for regional sampling.
- Till Sample Collection:
873 samples, including approximately 623 regional and approximately
250 in-fill fine fraction till samples, which provided enhanced
coverage across the Troilus East Property.
A geological mapping and prospecting crew conducted up-ice
programs to trace the sources of previously identified gold,
copper, and lithium anomalies. The exploration team focused on
locating and sampling mineralized boulders and outcrops that could
help define future drill targets.
- Rock Sample Collection: 142 samples were collected from
boulders and outcrops.
The exploration program's primary goals were to establish a
systematic till sampling grid, refine the search area for potential
bedrock sources of gold, copper, and lithium, and progress toward
defining drill targets. To support this effort, the
Corporation engaged Dahrouge Geological Consulting Ltd. to enhance
its surface exploration team. This exploration initiative aimed to
unlock the Troilus East Property's full potential and position the
Corporation for future discoveries in this underexplored area.
The exploration program resulted in identifying three (3)
discrete gold-in-till anomalies along the interpreted geophysical
structure on trend with the Parker Intrusion contact (Figure 2).
The mid-section anomaly also corresponds to the gold-in-till
anomaly identified during the 2020 till program (Figure 2). These
regional targets are to be followed up with infill till sampling,
and additional boulder and outcrops prospecting. Pending positive
results from the future infill till sampling, the Corporation would
anticipate conducting Induced Polarization surveys and identifying
potential drilling targets.
A cluster of outcrop samples identified gold anomalies ranging
from 0.055 g/t to 0.224 g/t (Figure 3). Two of these
samples are in a foliated basalt with rusty quartz veins and the
other one, grading at 0.224 g/t, is in a gossanous gabbro. These
samples are along the same trend as the gold-in-till anomaly and
could be near the source of the gold-in-till anomaly down ice from
these outcrops.
Marketing Activities:
We invite investors to visit our website to keep up to date with
Comet Lithium's marketing activities, including conferences that
our team will be attending and/or exhibiting.
- 121 London | London, United Kingdom | November 14-15, 2024
- Swiss Mining Institute | Zurich,
Switzerland | March 18-19,
2025
Documents & Figures
Troilus East Maps, Images and Figures
Cautionary statements
Grab samples are selective by nature and may not be
representative of mineralized zones.
QAQC
A Quality Assurance / Quality Control protocol following
industry best practices was incorporated into the sampling
program.
All till and rock samples were collected under the supervision
of Comet Lithium and Dahrouge Geological Consulting employees. All
samples were logged and photographed on site while being collected.
Samples were then bagged, and blanks and certified reference
materials were inserted at regular intervals. Groups of samples
were placed in large bags, sealed with numbered tags in order to
maintain a chain-of-custody, and shipped to SGS laboratory in
Val d'Or, Québec.
Approximately one kilogram of till material was collected from
each sample site and shipped to SGS Laboratory in Val d'Or, Québec for preparation. Till samples
were analyzed at SGS Laboratory in Burnaby, British Columbia for multi-element
using multi-acid (four acid) followed by an ICP OES finishes under
SGS codes GE_ICP40Q12 & GE_IMS40Q12, as well as for Au under
code GE_FAI30V5.
Approximately one kilogram of rock material was collected from
each sample site and shipped to SGS Laboratory in Val d'Or, Québec for preparation. Rock samples
were analyzed at SGS Laboratory in Burnaby, British Columbia for multi-element
using sodium peroxide fusion and ICP-AES/ICP-MS finishes under SGS
codes GE_ICP91A50 & GE_IMS91A50, as well as for Au under code
GE_FAA30V5.
Qualified Person
Vincent Cardin-Tremblay, P. Geo
(ogq #1386, PGO #3347), registered in the Provinces of Québec, and
Ontario, Vice President
Exploration for Comet Lithium, is the Corporation'squalified 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 Dahrouge Geological Consulting Ltd.
Dahrouge Geological Consulting Ltd. Is a global mining and
mineral exploration consulting group providing expertise in
professional geological, logistical, and project management
services through all stages of the mining value chain.
Based in Edmonton, AB, CAN,
Montreal, QC, CAN, and
Denver, CO, USA, Dahrouge and its
predecessor, Halferdahl and Associates, have advised and assisted
clients in identifying, exploring, developing, and optimizing
mineral projects and resources since 1971.
About Comet Lithium Corporation
Comet Lithium is a dynamic focused exploration company active in
the prolific James Bay District of
Québec. Comet Lithium's flagship asset is its 100%-owned Liberty
Property contiguous to Winsome Resources' Adina lithium deposit, a
growing high-grade lithium discovery. The second prospective asset
within Comet Lithium's portfolio of asset is the large Troilus East
Property contiguous to Troilus Gold's Troilus deposit, a large
multi million-ounce gold-copper deposit, which recently reached
feasibility stage.
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 if any future drill
targets will be identified from the Troilus East 2024 exploration
program, if any additional exploration program, including infill
till samplings, Induced Polarization surveys or drilling, will
occur on the Troilus East Property, the extent and the timing to
conduct such exploration programs, and the results of such
exploration programs, and if any discoveries will occur on the
Troilus East Property ,and if it does so, what benefits Comet
Lithium will derive from any such exploration programs or
discoveries. 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, uncertainties and assumptions described under "Financial
Instruments" and "Risk and Uncertainties" in Comet Lithium's Annual
Report for the fiscal year ended December
31, 2023, 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 Corporation