ROUYN-NORANDA, QC, Aug. 8, 2023
/CNW/ - Comet Lithium Corporation (TSXV: CLIC) ("Comet
Lithium" or the "Company"), is pleased to report that it
has started exploration work at its 100%-owned Liberty Property,
LG4 sector, Eeyou-Istchee Baie James region in northern Québec. The
Liberty Property is adjacent to Winsome Resources' Adina project
where systematic drilling proved 1.9 kilometres of continuous
spodumene bearing pegmatite (see Winsome Resources' Investor
Presentation, July 2023 at
https://winsomeresources.com.au/wp-content/uploads/2023/07/WR1-Investor-Presentation-July-2023.pdf).
Comet Lithium's Liberty Property is on strike with the exploration
corridor.
Comet Lithium's exploration team has now been deployed to the
field to initiate the first reconnaissance and sampling program.
The objective of this first phase of the exploration campaign will
be concentrated on the prospecting and sampling of frost heave
rocks, glacial boulders and rock surfaces to see if there is an
extension of the Adina Li pegmatite trend. In this environment,
lithium bearing pegmatite are mainly hosted in amphibolite rocks of
the Trieste Formation. The Liberty Property broadly covers the
Trieste Formation, about 2.7 kilometres along strike and 1.5
kilometres in the north-south axis.
Different structural trends and geophysical contrasts were
highlighted during the evaluation and preparation of this program
and these signals will be used to guide the prospecting crew on the
field. The exploration program will take approximately 30 days,
depending on the accessibility of the sampling material.
Mr. Sylvain Champagne, Comet
Lithium's Interim CEO and President, stated "We are very pleased to
secure a helicopter so quickly following the forest fires situation
of June and July. This sampling program will firstly assess the
presence of pegmatites intrusions swarms inside the targeted
environment, and secondly to identify those more likely to host
spodumene."
Comet Lithium is also pleased to announce that it has contracted
XEOS Imagerie Inc. to perform a LIDAR survey on the Liberty
Property. This LIDAR survey will generate a high precision database
and image of the topography, allowing to read discreet structural
features through a thin layer of overburden associated with
pegmatite intrusions.
Qualified
Person
Martin Demers, P. Geo (ogq #770,
APEGNB L5980, PGO #3785), registered in the Provinces of Québec,
New-Brunswick, and Ontario a consultant to Comet Lithium, is a
qualified 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 Comet Lithium
Corporation
Comet Lithium is a dynamic lithium-focused exploration company
active in the prolific James Bay
District of Quebec. Comet
Lithium's flagship asset is its 100%-owned Liberty Property
contiguous to Winsome Resources' Adina deposit, a growing
high-grade discovery. Comet Lithium is advancing Liberty to
first-ever drilling.
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 the exploration
programs, the results therefor and development (including any
future exploration programs) of the Liberty Property, or if it does
so, what benefits Comet Lithium will derive from the Liberty
Property. 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,
those described under "Financial Instruments" and "Risk and
Uncertainties in Comet Lithium's Annual Report for the fiscal year
ended December 31, 2022, 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.
www.cometlithium.com
SOURCE Comet Lithium Corp.