The Corvette Property was acquired as part of a three-property land package agreement recently completed by the Company (see news releases dated September 21st, 2017). The Property consists of 76 claims for total of 3,891 hectares and was acquired for its lithium potential, and as a complementary asset to the Company’s flagship Hidden Lake Project in the Northwest Territories.
- The Corvette Project consists of 76 claims, totaling 3,891 hectares, and is located less than 12 kilometres south of the Trans-Taiga all-weather gravel road, geological situated within the Guyer Greenstone Belt.
- In 2006, Virginia Gold Mines discovered a spodumene-bearing outcrop while conducting gold exploration within the belt at what is now the Company’s Corvette Property. No sample was collected at the time, and no follow-up work completed on the lithium potential of the outcrop
- Three (3) samples were collected from the larger pegmatite, with dimensions of approximately 150 m length and up to 30 m across, with spodumene crystals up to ~1 metre in length. The samples assayed 0.80%, 3.48%, and 7.32% Li2O. Management notes the samples were select grab samples and may not be considered representative of the entire pegmatite. However, the 7.32% Li2O sample does highlight the very coarse-grained nature of the observed lithium mineralization.
- A single grab sample was collected from the second pegmatite, located approximately ~75 m to the north, with an approximate exposed dimension of 100 m by 2 m. This pegmatite was also spodumene bearing and returned 1.22% Li2O, as well as anomalous tantalum of 90 ppm Ta2O5.
NI 43-101 Disclosure Neil McCallum, P. Geo. of Dahrouge Geological Consulting Ltd., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of this technical information