ROUYN-NORANDA, QC, Jan. 20,
2023 /CNW Telbec/ - Visible Gold Mines
Inc. (TSXV: VGD) (FSE: 3V41) is pleased to report that SPOD
Lithium's (CSE: SPOD) field crews have identified
Lithium-Cesium-Tantalum (LCT) pegmatites on optioned Visible Gold
Mines' MegaLi lithium project, located in the James Bay region, Québec (the "Megali
Property") (see SPOD Lithium press release dated January 20, 2023) and (Visible Gold Mines Press
release dated August 4, 2022).
Numerous claim blocks share their borders with Patriot Battery
Metals Inc's Corvette property claims. The MegaLi Property is
located approximately fifty (50) kilometres southwest of the LG4
reservoir.
The primary
objective of the program conducted by SPOD
Lithium was to evaluate the MegaLi Property's
lithium potential and uncover new LCT pegmatites by
geological mapping and sampling. The field trip was executed
between October 23 and October 28,
2022 and despite some challenging weather conditions,
Visible Gold Mines is very pleased with the positive results
obtained this early in the exploration cycle and is looking forward
to the follow up exploration program currently being planned by
SPOD Lithium.
The Dahrouge Geological Consulting's report prepared in
connection with the initial exploration program on the MegaLi
Property which was provided to Visible Gold Mines by SPOD Lithium
highlighted that claims Block A, C and D merit a more intensive
follow up. Results obtained from claim Block D can be considered as
a true exploration success with Tantalum (Ta) results up to 114 ppm
and Cesium (Cs) results up to 126 ppm. This level of enrichment,
combined with high Rubidium (Rb) values of 2,480 ppm, is a
proximity indicator for spodumene bearing pegmatites. The
combination of these strong geochemical signatures within the
presence of large pegmatites, highlights similarities with the CV
pegmatite system. Block C also displays a strong Rb-Ta anomaly,
possibly related to the same five kilometre trend. Bloc A also
highlights a cluster of Rb-Ta anomalies forming a
pluri-kilometric trend located close to a north-east Proterozoic
dyke, easily recognizable by a strong magnetic signature. Due
to the challenging weather conditions, claim Block F was not
visited and marked the end of the initial exploration program.
Visible Gold Mines would also like to take this opportunity to
congratulate Patriot Battery Metals for their drill results
announced earlier this week in hole CV22-083 (see Patriot Battery
Metals press release dated January 18,
2023), which returned a 156.9 metre interval grading 2.12%
LiO2 at the CV5 pegmatite. The CV5 LCT pegmatite is located less
than three kilometres north-east from Block C of the MegaLi
Property.
Visible Gold Mines' 100% owned MegaLi project is currently under
option with SPOD Lithium and consists of 78 mining claims
covering a total area of 3,996.67 hectares (40 square kilometers).
The MegaLi Property is adjacent to Patriots Corvette
project (see map above) and located proximal to the
Trans-Taiga Road, airport and power line infrastructural corridor
in the James Bay region in the
province of Québec.
Qualified Person
Jeannot Theberge, PGeo, senior
geologist, and a consultant to Visible Gold Mines, is the qualified
person for Visible Gold Mines' properties under National Instrument
43-101 - Standards of Disclosure for Mineral Projects,
responsible for the technical contents of this news release, and
has approved the disclosure of the technical information contained
herein.
About Visible Gold Mines
Inc.
Visible Gold Mines is a corporation focused on gold in the
prolific Abitibi Gold Belt and the
James Bay region in the province
of Québec. Visible Gold Mines has 33,827,039 common shares issued
and outstanding.
Neither 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.
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 Visible Gold Mines, 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 follow up
exploration program being planned by SPOD Lithium and the result of
such exploration program. 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 Visible Gold Mines' control.
These risks, uncertainties and assumptions include, but are not
limited to, those described under "Financial Risks" and "Risk
Factors" in Visible Gold Mines' Annual Report for the fiscal year
ended July 31, 2022, a copy of which
is available on SEDAR at www.sedar.com, and could cause actual
events or results to differ materially from those projected in any
forward-looking statements. Visible Gold Mines does not intend, nor
does Visible Gold Mines 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.
SOURCE Visible Gold Mines Inc.