Consolidated Lithium Completes Baillargé Summer Program

TORONTO, Oct. 03, 2023 (GLOBE NEWSWIRE) — CONSOLIDATED LITHIUM METALS INC. (TSXV: CLM; OTCQB: JORFF; FRA: 2JR1) (“CLM” or the “Company“) is pleased to announce that the summer exploration field activities have been completed at the Company’s 100% owned BaillargĂ© Lithium Project, located in the Abitibi Greenstone Belt approximately 21 km northwest of Val-d’Or, Quebec (see Figures 1 & 2).

The summer exploration program consisted of three key but separate components:

  • a 29 hole, 4747 m diamond drilling program;
  • an outcrop stripping and sampling program; and
  • a soil sampling program covering the area between the BaillargĂ© Est Showing and the Chubb showing, which is located 1.2 km southeast and along strike of the area covered by the summer drilling program.

The Baillargé Est Showing (“BE”)

A total of 4747 m of diamond drilling was completed with 29 holes testing the three previously known dykes of the Baillargé Est Showing, located just south of Lac Baillargé within the northern half of CLM’s Baillargé Property. Lithium mineralization was first found at Baillargé Est in 1955 by Amos Lithium Corporation Limited (see Government of Quebec, Ressources Naturelles et Forêts, SIGÉOM files GM 3404 and GM 4109-B at https://sigeom.mines.gouv.qc.ca/signet/classes/I1103_index?format=COMPLET&type_reqt=U&mode=NOUVELLE&l=A&entt=GM&alias_table_crit=F4E02&mnen_crit=NUMR_INTER&oper_crit=EGAL&valr_crit=5454.)

All 29 holes encountered lithium-bearing pegmatites and extended the known strike lengths of all three previously known pegmatites. Drilling and outcrop stripping also led to the discovery of a new pegmatite dyke system, Dyke 5, which is located between Dyke 3 and Dyke 7 (see Figure 3) located under the BE Soil anomaly defined during the Company’s 2022 soil sampling program (see the Company’s news release dated July 10, 2023 which is available on the Company’s SEDAR profile at www.sedar.com). Samples have been collected from all the lithium-bearing pegmatites intersected and have been submitted for analysis at SGS Laboratories, a company independent from CLM. The Company anticipates receiving the first assay results from the samples collected in the next few weeks.

Dyke 7 has now been defined over a strike length of 354 m and to a vertical depth of 130 m. Dyke 3 has been defined over a strike length of 330 m and to a depth of 120 m. Dyke 1 has a current strike length of 280 m and has been defined to a depth of 100 m. Dyke 5 has a 175 m strike length and has been defined to a depth of 50 m, totaling 1139m strike length for all drill-tested pegmatites.

All four dykes remain open for expansion in both directions along strike and at depth. Dyke widths in individual holes range from tens of centimeters to over 5 m in true thickness. Zoning of spodumene mineralization within the dykes has been observed, consistent with observations made during the 2022 and 2023 outcrop stripping programs. The 2023 exploration program has confirmed the strike direction of the four dykes and that they trend in the direction of the Chubb showing, located approximately 1.2 km southeast of the Baillargé Est area. The Chubb showing is located immediately adjacent to the eastern property boundary and trends onto the Company’s property. The area between Baillargé Est and the Chubb showing has never been drill tested and is considered by the Company to be a high-priority target for future exploration.

Outcrop Stripping Program

The Company completed its Phase II outcrop stripping program to expand the known surface strike extent of the three identified spodumene-bearing pegmatite dyke systems that comprise the Baillargé Est occurrence. CLM undertook Phase I of the outcrop stripping program during the fall of 2022 (see the Company’s news releases dated December 12, 2022 and March 16, 2023 which are also available on the Company’s SEDAR profile at www.sedar.com).

In addition to extending the length of the three known dykes, a new pegmatite dyke was discovered early in the stripping program. The newly discovered Dyke 5 pegmatite was located by stripping the area directly underneath a lithium-in-soil anomaly detected during the 2022 soil sampling program (see the Company’s new release dated July 10, 2023). Lithium bearing minerals including spodumene and lithium-bearing micas were observed in the pegmatites in the newly stripped areas and in Dyke 5.

CLM conducted channel sampling of the newly stripped areas of Dykes 3 and 7, as well as along the newly exposed portion of Dyke 5. All four dykes remain open along strike to the north-northwest and south-southeast and at depth.

In addition to the discovery of Dyke 5, the newly stripped area of Dyke 3 northwest of the 2022 stripped area yielded a previously unknown portion of the pegmatite that contained highly visible concentrations of lithium- bearing mica and spodumene located only 25 m from the northern end of the 2022 stripped area.

Channel sampling was completed on all new stripped areas and the samples have been submitted for geochemical analysis at SGS Laboratories. The Company anticipates receiving the results of these analyses in the coming weeks.

Soil Sampling Program using LIBS Analysis

The 2023 drilling and outcrop stripping programs have confirmed that the Baillargé Est pegmatites strike southeast towards the Chubb showing, located immediately east of the east property boundary. From various Quebec assessment reports and public disclosures by the Chubb showing owner Burley Resources, the Chubb pegmatites strike northwest in the direction towards the Baillargé Est showing. The 1.2 km long area between the Baillargé Est and Chubb showing is located on the Company’s property and has never been explored. A 248 ppm single sample lithium-in-soil anomaly was detected during the 2022 soil sampling program within the 400 x 200 m grid area along the east property boundary adjacent to the Chubb showing.

CLM has completed a 50 x 50 m spaced infill soil sampling program to follow up this 248 ppm Li anomaly covering the area between the Baillargé Est and Chubb showing to define future drilling targets in the highly prospective Baillargé Lithium Corridor (see Figure 4). A total of approximately 300 samples were collected for analysis.

CLM has elected to analyze the 2023 soil sampling program using the handheld LIBS Analyzer. The Company has been working with the manufacturer of the LIBS Analyzer, SciAps Inc. of Boston, Massachusetts, to develop a soil algorithm for use in lithium exploration using state-of-the-art technology. We anticipate that the development of a LIBS soil algorithm will allow the Company to quickly, efficiently and cost effectively detect lithium-in-soil anomalies in other unexplored areas of CLM’s property portfolio. Approximately 10% of the samples will be analyzed using conventional geochemical analysis as a Quality Assurance/Quality Control check on this new application of the LIBS system. Results from the soil sampling program is anticipated to be received in the next few weeks.

Drilling contractor, Les Forages Géo-Nord has drilled at Baillargé Est project. Géo-Nord is employing local drillers from the town of Val-d’Or, Quebec. Géo-Nord was the contractor for the 2021 drilling campaign at Vallee Lithium. Géo-Nord familiarity within the local community and Project site, uniquely provides local knowledge of the Health, Safety, Environmental and Community expectations required to execute the drilling contract.

The geochemical soil sampling program was designed and sampled by ABG EXPLORATION technical team based at Amos, Quebec. Their technical team is supervised by a team of 7 OGQ compliant P.Geo. including MSc and 2 PhD geochemist/geostatistician and a structural geologist.

Rene Bharti, Chief Executive Officer, commented, “CLM was one of the first to deploy the groundbreaking LIBS technology to our lithium assets in Quebec. This technology will allow us to locate much faster, buried lithium bearing pegmatite dykes and define better drilling targets. We look forward to receiving the results in a timely manner.”

Consolidated Lithium - Location of CLM Properties

Figure 1 – Consolidated Lithium – Location of CLM Properties

Consolidated Lithium - Location of the Baillargé Project

Figure 2 – Consolidated Lithium – Location of the BaillargĂ© Project

Consolidated Lithium – Baillargé Est Showing

Figure 3 – Consolidated Lithium – Baillargé Est Showing

Consolidated Lithium - 2023 Exploration Program – Baillargé Project

Figure 4 – Consolidated Lithium – 2023 Exploration Program – BaillargĂ© Project

Qualified Person
The scientific and technical information contained herein has been reviewed and approved by Alexandr Beloborodov, P.Geo., an independent consultant that is a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Consolidated Lithium Metals Inc.
Consolidated Lithium Metals Inc. (formerly known as Jourdan Resources Inc.) is a Canadian junior mining exploration company trading under the symbol “CLM” on the TSX Venture Exchange and “2JR1” on the Stuttgart Stock Exchange. The Company is focused on the acquisition, exploration, production, and development of mining properties. The Company’s properties are in Quebec, Canada, primarily in the spodumene-bearing pegmatites of the La Corne Batholith, around North American Lithium’s Quebec lithium mine.

For more information:
Rene Bharti, Chief Executive Officer and President
Email: [email protected]
Phone: (416) 861-5800
https://consolidatedlithium.com/

Cautionary Statements

The content and grades of any mineral deposits at the Company’s properties are conceptual in nature. There has been insufficient exploration to define a mineral resource on its properties and it is uncertain if further exploration will result in any target being delineated as a mineral resource. In addition, sample results at or around, and information applicable to, the North American Lithium mine or the Chubb showing are not indications of results that could be obtained at, or information applicable to, the Company’s Baillargé lithium project, or any other of CLM’s properties.

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to anticipated future drill programs, the timing of the receipt of sample assay results, the expected benefits of a LIBS soil algorithm, and the Company’s ability to execute its business plan. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.  Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of CLM to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages and other risks of the mining industry. Although CLM has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. CLM does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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 THIS RELEASE

Photos accompanying this announcement are available at

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https://www.globenewswire.com/NewsRoom/AttachmentNg/732d0f78-0d03-46a8-801f-4dafdb4d670d

https://www.globenewswire.com/NewsRoom/AttachmentNg/628ebf9f-645d-4d7e-9b26-ef135d676583

https://www.globenewswire.com/NewsRoom/AttachmentNg/8b20fdae-d3d9-46d7-bc00-8381928c427c


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