Toronto, Ontario--(Newsfile Corp. - June 24, 2024) - Volta Metals Ltd. (CSE: VLTA) (FSE: D0W) (“Volta” or the “Company”) is pleased to announce it has commenced the 2024 exploration campaign at its northwestern Ontario Properties (Figure 1).
Figure 1. Regional location of Falcon West, Crescent Lake and Junior Lake Projects, northwestern Ontario.
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The Company is following up on the 2023 exploration success at its Falcon West Lithium Property where ten out of eleven diamond drillholes intersected multiple broad zones of high-grade lithium mineralization with one borehole discovering an additional blind Li-pegmatite. Highlights include 1.24% Li2O over 15.6m, 1.11 Li2O over 10.2m, and 1.50% Li2O over 5.15m. The mineralized system remains open for expansion in all directions.
The 2024 exploration program will consist of systematic soil sampling, trenching, and detailed structural geology work. Initial soil sampling will be carried out in and around targets generated from a detailed magnetic survey and 2023 soil sampling (Figure 2).
Figure 2. Soil anomalies obtained from the 2023 exploration program
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The initial soil sampling program will focus on screening the highly prospective target areas around the newly discovered high-grade lithium pegmatite swarm (Figure 3).
Figure 3. Structural lithium trend within the Falcon West Lithium Project
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Work has also commenced on the Junior Lake project and will involve the collection of surface exploration data, including, but not limited to, structural and alteration mapping, prospecting, sampling, and utilizing a handheld Lazer Induced Breakdown Spectroscope (LIBS) for rapid real-time sample analysis to support field follow-up. In addition, samples will be submitted to ACT Labs in Thunder Bay, Ontario for detailed multi-element chemical analysis.
The Company's technical advisor, Dr. Fred Breaks, commented, "We are pleased that follow-up exploration is underway on several properties prospective for rare metals, and lithium in the Caribou Lake metavolcanic belt. The Junior Lake claims commence two km east of the highly evolved Swole Lake lepidolite-subtype pegmatite that is hosted in the Summit Lake batholith. Rare metal pegmatites typically occur in swarms, which could extend onto the Junior Lake property. The Falcon West property is situated three km northeast of beryl-type pegmatites documented by Breaks, Selway and Tindle (2006). Current exploration will test the hypothesis that the fractionation direction of beryl-type and potential spodumene-bearing pegmatites extends further than the newly discovered lithium pegmatites within the Falcon West property."
Qualified Person
The technical content of this news release has been reviewed and approved by Andrew Tims, P.Geo., who is an independent Qualified Person (QP) as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. The QP and the Company have not completed sufficient work to verify the historic information on the Properties, particularly regarding historical exploration, neighbouring companies, and government geological work.
Referenced Sources
1. Breaks, F.W., Selway, J.B. and Tindle, A.G. 2003. Fertile peraluminous granites and related rare-element mineralization in pegmatites, Superior Province, northwest and northeast Ontario: Operation Treasure Hunt; Ontario Geological Survey, Open File Report 6099, 179p.
2. Breaks, F.W., Selway, J.B., and Tindle, A.G., 2005, Fertile peraluminous granites and related rare-element pegmatites, Superior Province of Ontario, in Linnen, R.L., and Samson, I.M., eds., Rare-Element Geochemistry and Mineral Deposits: Geological Association of Canada, GAC Short Course Notes 17, p. 87-125.
3. Breaks, F.W., Selway, J.B. and Tindle, A.G. 2006. Fertile and peraluminous granites and related rare-element mineralization in pegmatites, north-central and northeastern Superior Province, Ontario; Ontario Geological Survey, Open File Report 6195, 143p.
ABOUT VOLTA METALS LTD
Volta Metals Ltd. (CSE: VLTA) (FSE: D0W) is a mineral exploration company focused on lithium, cesium and tantalum, and is based in Toronto, Ontario. It has optioned and is currently exploring a critical minerals portfolio of lithium, cesium and tantalum projects in Northwestern Ontario, which is considered to be one of the most prolific emerging hard-rock lithium districts in the world. To find out more about Volta, and its flagship Falcon West Project, please visit www.voltametals.ca.
ON BEHALF OF THE BOARD
For further information, contact:
Kerem Usenmez, President & CEO
Tel: 416.919.9060
Email: info@voltametals.ca
Website: www.voltametals.ca
Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements relating to product development, plans, strategies, and other statements that are not historical facts. Forward-Looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. Forward-Looking information in this news release includes, but is not limited to, including the Company's planned exploration activities and the Company's aim to prevent and minimize impacts on the First Nations through a variety of mitigation measures and there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include: the risks detailed from time to time in the filings made by the Company with securities regulators; the fact that Volta's interests in the Property are options only and there are no guarantee that such interest, if earned, will be certain; the future prices and demand for lithium; and delays or the inability of the Company to obtain any necessary approvals, permits and authorizations required to carry out its business plans. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-Looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, other than as required by law.
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