ROUYN-NORANDA, QC, Aug. 28,
2023 /CNW/ - Comet Lithium Corporation (TSXV: CLIC)
("Comet Lithium" or the "Company"), is pleased to
announce it has identified pegmatites in outcrop during phase one
of its ground exploration program at its 100%-owned Liberty
Property in James Bay, Québec,
adjacent to Winsome Resources' Adina project.
The first phase of exploration on the Liberty Property began
early August, and to date, the exploration team has covered a
distance of approximately 536 kilometres, which represents more
than 90% of the ground. Furthermore, the field teams have
identified and sampled numerous pegmatite veins in outcrop, as well
as in large sub crop glacial boulders and erratic blocks. All the
205 rock samples collected at Liberty as of now are scheduled to be
sent to the laboratory in early September
2023 for further analysis. The exploration program on
Liberty is now moving into the second phase, which is a soil survey
to assist in the identification of drill targets.
Mr. Sylvain Champagne, Comet
Lithium's Interim CEO and President, stated: "I am very proud
of what we have been able to accomplish during this first
exploration phase at Liberty. We are very encouraged by our early
findings along strike with Winsome's Adina pegmatite known
trend."
Mr. Champagne, further stated: "Phase two of our exploration
program at Liberty will be focused on completing the field work by
the end of the month of September
2023. The Company is also evaluating with service providers
the possibly to begin a gravity survey on the Liberty
Property."
Comet Lithium would also like to draw attention to Loyal
Lithium's recent discovery on its Trieste Lithium project
of five spodumene bearing pegmatite dykes.1 The
location of the new discovery is about 10 kilometres east
south of the Liberty Property limit. The cluster of pegmatite
outcrops and associated glacial boulders defines a new lithium
mineralization trend. This time, unlike the Winsome's Adina
pegmatite trend hosted in the amphibolite-dominated Trieste
Formation, the new discovery is hosted in high metamorphic rocks
derived from sediments. The new discovery puts the Liberty Property
in the middle of these two discoveries. It also demonstrate that
valuable pegmatites can be found outside of the known Adina
trend.
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.
__________________________________
1 Source: Loyal Lithium's press release dated August 16,
2023. https://yourir.info/resources/cb20d89a85ecfed1/announcements/lli.asx/6A1163357/LLI_Spodumene_Pegmatites_Discovered_at_Trieste_Lithium_Project.pdf
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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 results
from the ground samples collected on the Liberty Property and any
future exploration programs) of the Liberty Property, the
engagement of a third party to conduct a gravity survey on 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.
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Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of the release.
Website: CometLithium.com
SOURCE Comet Lithium Corp.