VANCOUVER, British Columbia, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Forza Lithium Corp. (CSE: FZ) (“Forza” or the “Company”) is pleased to announce the completion of June and July 2023 field programs on its Jeannette Lithium Property (“the Property”), with plans for an August prospecting program. The Property is located approximately 105 km east of the town of Red Lake, Ontario, and 80 km northeast of Ear Falls, Ontario. (Figure 1). A crew of two carried out a 7-day field program in June along logging roads which traverse the Property, collecting 16 grab samples. A fly camp was subsequently set up in July on Tarpley Lake for a period of 11 days, during which 29 further grab samples were collected by the crew. An additional prospecting program is planned north of St. Roy Lake in the coming days (Figure 2).
Figure 1: Jeannette Property Regional Location Map
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Assays from both the June and July programs have now been received. June sampling returned up to 290 ppm Li from biotite gneiss in the vicinity of 2022 sampling which had returned up to 244 ppm Li in the central part of the Property. This is the highest Li result to-date on the Property. July sampling on the south side of Tarpley Lake returned up to 259 ppm Li from biotite schist and up to 688 ppm Rb from pegmatite, corresponding to the second-highest Li result to-date and the highest Rb result to-date on the Property. See Figure 2 for 2022-2023 lithium results.
During the 2022 field program, 113 grab and channel samples were collected. The value of 244 ppm Li was obtained from a sample of biotite gneiss with coarse feldspar-quartz dykelets.
Figure 2: Jeannette Property 2022-2023 Lithium Results
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The following description of the regional geology is adapted from the NI 43-101 Independent Technical Report on the Jeannette Lithium Property (Camier 2022):
The Property is located in the east-central portion of the Allison Lake Batholith within the Uchi Subprovince of the Superior Province of the Canadian Shield. The Uchi Subprovince is an east-trending granite-greenstone domain between 50 and 70 kilometers in width, extending approximately 700 kilometers from Lake Winnipeg in the west to the James Bay Lowlands.
The Allison Lake Batholith is the largest known fertile, peraluminous granite in northwestern Ontario (Breaks et al. 2003). Rare-element (Li, Cs, Rb, Tl, Be, Ta, Nb, Ga and Ge) pegmatite mineralization associated with S-type, peraluminous granite plutons is distributed over a wide expanse of the Superior Province of northeastern and northwestern Ontario. Rare element pegmatite mineralization occurs along a 350 km strike length of the Uchi-English River Subprovince boundary, from the Sandy Creek beryl pegmatite near Ear Falls to the Lilypad Lake complex-type pegmatite in the Fort Hope area, with 3 areas of known mineralization in between at Jubilee Lake, Root Lake and East Pashkokogan Lake (Breaks et al. 2003).
The Jeanette lithium property represents an area of high merit for the discovery of additional spodumene bearing pegmatites in an emerging hard-rock lithium district in NW Ontario. The Property is located approximately 45 km northwest of Green Technology Metals’ Root Lake Project, hosting the Root Bay and McCombe lithium deposits with a collective mineral resource estimate (MRE) of 12.6 million tonnes at 1.21% Li2O and 62 ppm Ta2O5 (greentm.com.au). Several other companies have staked claims in the area surrounding the Jeannette Property and are actively conducting exploration, including Volta Metals Ltd., Portofino Resources Inc., Lithium One Metals, Beyond Lithium Metals, Westmount Minerals Corp. and Tearlach Resources Ltd.
Forza’s President and CEO, Mr. Robert Coltura, said, “The Company is pleased with the elevated lithium and rubidium results obtained during the 2022 and 2023 field programs so far, and will continue to uncover the Property’s potential through further fieldwork and analysis.”
Figure 1: Jeannette Property Regional Location Map
Figure 2: Jeannette Property 2022-2023 Lithium Results
Qualified Person:
John Londry, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company. The Company nor the Q.P. have not completed sufficient work to verify the historical information on the property comprising the Jeanette Project, particularly regarding historical exploration, neighbouring companies, and government geological work. Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.
About Forza Lithium Corp.:
Forza Lithium is a Canadian exploration company with focused expertise on the acquisition, exploration and development of highly prospective lithium properties in North America. Our flagship project, the Jeanette Lithium Property, consists of 4 claims comprising 1,820 hectares and lies 105 km east of the mining community of Red Lake, Ontario. The Company’s strong management team is committed to maximizing shareholder value through new mineral discoveries located in favourable jurisdictions through its strategically located properties.
ON BEHALF OFTHE BOARD OF DIRECTORS,
Robert Coltura
President & CEO
Forza Lithium Corp.
info@forzalithium.com
Tel: (604-290-6152)
Neither the Canadian Securities Exchange nor its Regulation Services accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include results of exploration, variations in results of mineralization, relationships with local communities, market prices, continued availability of capital and financing, and general economic, market or business conditions. There can beno assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
