VISION LITHIUM INITIATES MAIDEN DRILL PROGRAM ON CADILLAC LITHIUM PROPERTY, ADDS CLAIMS AND GRANTS OPTIONS
VAL-D’OR, QC, Jan. 4, 2022
VAL-D’OR, QC, Jan. 4, 2022 /CNW Telbec/ – ( ) (OTCQB: ABEPF) (FSE: 1AJ2) (the “Company” or “Vision Lithium“) is pleased to announce the start of its maiden drilling program on the newly acquired Cadillac Lithium property (the “Property“). Following a successful channel sampling campaign, which returned up to 4.80% Li2O over variable widths (see full results in press release of December 30, 2021), the Company is immediately launching a drill campaign which will target multiple lithium bearing dikes on the property. The Cadillac lithium project is located just 10 km south of the mining town of Cadillac in the Abitibi region of Quebec, Canada. It is surrounded by infrastructure and skilled labour, being in the middle of Quebec’s mining heartland.
Yves Rougerie, President and CEO commented, “Our initial channel sampling program has returned some very high grade lithium values. We are now mobilizing a drill to the site to immediately begin testing the potential of the B dike. The drill should be operational this week. The drill will test the B dike along its 300 m exposed strike length as well as other lithium bearing dikes, none of which have ever been drilled. Additional results from the surface channel sampling program are also expected in January. We’re very excited about this first-ever drill program on the Cadillac Lithium property and look forward to releasing results to the public as soon as they become available.”
The Company has also staked an additional 12 claims to expand the Cadillac Lithium property to the East to cover prospective ground.
Furthermore, the Company announces that it has granted 4,200,000 incentive stock options to certain directors, officers, employees and consultants of the Company, pursuant to the Company’s incentive stock option plan. Each option is exercisable into one common share of Vision Lithium at a price of $0.21 per share for a period of 5 years from the date of grant. 50% of the options vest immediately and the remaining 50% will vest 6 months following the date of grant.
The scientific and technical information in this release has been reviewed and approved by Yves Rougerie, Geologist, President and CEO of the Company. Mr. Rougerie is a “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The potential grades of exploration targets disclosed in this news release are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Canada. The Company is led by skilled and qualified mineral exploration experts and business professionals with a deep understanding of the battery materials market, which is driven by lithium-ion batteries. Vision Lithium is committed to discovering new, world-class assets and bringing these assets to production, starting with the Godslith lithium property located in Manitoba; the Cadillac Lithium property, Sirmac lithium property and the Dôme Lemieux porphyry/skarn copper-zinc property, all located in Quebec; its skarn and breccia polymetallic Red Brook and Benjamin properties in Northern New Brunswick and its St. Stephen nickel-copper-cobalt property in Southern New Brunswick.is a junior exploration company focused on exploring and developing high quality mineral assets including lithium and copper in
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: potential mineralization, estimates of cut-off grade, the potential to extend the estimates to other portions of the Property, the Company’s plans for further drilling and exploration, and the long-term prospects of the lithium market. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks and other factors include, but are not limited to: the estimates may turn out to be inaccurate; additional drilling and exploration may lead to a determination that there is no potentially viable mine plan for the Property; general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the ability of the Company to execute and achieve its business objectives. There can be no assurance that the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. 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, except as required by law.
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