WOODSTOCK, ONTARIO, Jan. 18, 2023 (GLOBE NEWSWIRE) -- In new lithium-related news, Joshua Gold Resources Inc. (OTC Pink: JSHG) has acquired full ownership of a series of 30 mining claims south of Timmins, Ontario, Canada, comprising approximately 1200 acres of potential mineral resources. The company has named it Lithium Two, partly for its proximity to its Lithium One property, in which the company holds a 50% ownership stake.
The claims, located in Northrup and Robin Townships, sit atop what is known to be a granite-rich area. This is important because lithium minerals (particularly Spodumene) occur in granite pegmatites. According to JSHG’s Chief Geologist Fred Sharpley (QP) the 30 contiguous claims are “underlain by granite, which requires prospecting and sampling for lithium.”
Lithium Two sits in the area of Gogama, Ontario, and shares a similar type of terrain where pegmatite outcrops containing spodumene have been identified on other potential lithium properties.
Gogama itself continues to be a hotbed of activity and has experienced a recent staking rush following findings of spodumene, a lithium-bearing mineral derived from pegmatite.
Much of the activity in Gogama is due to the increasing demand for lithium, which is a critical component in electric car batteries. Meeting the world’s lithium requirements means utilizing multiple sourcing methods, like deriving spodumene from pegmatite rock. Like Lithium One, this makes JSHG’s new property potentially very important to the lithium industry.
Joshua Gold Resources CEO Ben Fuschino commented, "Our teams continue to do very important work as the world recognizes the need to shift to more renewable energies. We look forward to conducting sampling on our Lithium One and Lithium Two properties in the near future, in hopes of enabling their development as sources of this valuable mineral.”
About Joshua Gold Resources Inc.
Joshua Gold Resources Inc. (OTC Pink: JSHG) is a publicly traded American gold and mineral exploration company headquartered in Canada, home to the 3 billion-year-old Canadian Shield which contains a wealth of minerals from nickel, gold, copper, lithium, cobalt, niobium, lithium to chromium.
Safe Harbor Statement: This press release contains forward-looking statements of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Forward-looking statements are not a guarantee of future performance and results, and will not be accurate indications of the times, or by, which such performance will be achieved.
Investor Relations Contact:
Peter Nicosia, President of Bull In Advantage, LLC
Phone: (585) 703-6565
Email: investors@joshuagoldresources.com
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- ‘Lithium Two’ is the Latest Property Acquisition by Joshua Gold Resources
- ‘Lithium Two’ is the Latest Property Acquisition by Joshua Gold Resources
