VANCOUVER, British Columbia, Dec. 22, 2021 (GLOBE NEWSWIRE) -- Medaro Mining Corp. (CSE: MEDA) (OTC: MEDAF) (FWB: 1ZY) (“Medaro” or the “Company”), a multi-faceted venture aimed at developing innovative spodumene processing technology concurrent with its lithium focused mineral exploration efforts in Canada, is pleased to announce that it has received results of the Phase 1 exploration work program (the “Program”) on its CYR South Lithium Property (the “Property”) located in James Bay, Quebec, Canada.
The results of the recently conducted rock and soil sampling indicate that the northeastern part of the Property is more favourable for lithium, beryllium, and rare metals exploration, and that the southwestern claim block is more favourable for manganese and other metals exploration. The ground geophysical survey was used to identify local structures to help with lithium exploration targeting. The geophysical interpretation identified three fault zones and magnetic lineaments which are recommended to be followed up through compilation of historical data and a ground trenching and sampling work (see Figure 1 below).
Figure 1 CYR South Property Geophysical Interpretation Map is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/98b1cd56-19dc-49da-8fe6-c465979032a0
The program was carried out in two stages where the first stage consisted of ground prospecting, rock and soil sampling, and mapping which was aimed at identifying a group of pegmatites for their potential to host lithium and other metals mineralization. The second stage consisted of a 46.2 line -km (4,661 readings) of ground magnetic geophysical survey to generate exploration targets for future work. A total of 150 selected channel cut and grab rock samples and 40 soil samples were collected during this work program.
Results Highlights:
- Lithium (Li) values were up to 166 parts per million(ppm).
- Beryllium (Be) values were up to 26,600 ppm (2.66% Be).
- Boron (B) values were up to 7,500 ppm (0.75% B).
- Manganese (Mn) values were up to 28,700 ppm (2.78% Mn).
- Rubidium (Rb) values were up to 1,290 ppm.
- Cesium (Cs) values were up to 992 ppm.
- Niobium (Nb) values were up to 121.4 ppm, and tantalum values were up to 47.4 ppm.
- Elevated values of Be and Nb occur in pegmatites with tourmaline, beryl, garnet and aplitic zones indicate that the pegmatite is fractionated and has the potential to contain lithium.
Sample locations were determined by hand-held GPS set to report locations in UTM coordinates. Conventional soil samples were collected from the B-horizon wherever possible. Relevant details pertaining to the soil and rock samples, such as location, lithology and sample type were recorded. The samples were bagged and tagged using best practices and were delivered to Activation Laboratories (“ACTLABS”), Ancaster, Ontario for sample preparation and analyses. ACTLABS is an independent commercial, accredited ISO Certified Laboratory.
The rock and soil samples indicated anomalous values of lithium, beryllium, barium, boron, manganese, rubidium, cesium, and niobium. The soil sample results show consistent values of the targeted elements mentioned above in rock samples and no definite trend can be interpreted due to the limited number of samples taken.
Company President & Director Faizaan Lalani notes, “The results from our phase 1 workplan at Cyr South have provided an invaluable first step towards focusing our plans for phase 2 and beyond. Clearly our lithium exploration efforts will redouble to the northeast, while we still intend to step-out and explore some of the more remote southwestern locations to assess and build a broad general mineralization picture. We are very pleased by the initial results and aim to continue towards developing our understanding of the underlying lithium prospect across the Property. Our efforts remain focused on defining drill targets and building project value.”
The Company is also pleased to announce a renewal agreement with Financial Star News Inc. (“FSN”) (address: 701 West Georgia Street, Suite 1500, Vancouver, V7Y 1C6; email: info@thefinancialstar.com) for marketing services for three months, commencing December, 2021.
FSN shall, as appropriate, create campaigns, ad groups, text ads, display ads, perform detailed keyword research, setup and manage remarketing campaigns, optimize keyword options, coordinate online advertiser and marketers corresponding to the customers online marketing targets, create landing pages for ad campaigns and bring attention to the business of the Company in consideration for USD $500,000 (plus applicable taxes). The promotional activity shall occur on theFinancialStar.com, by email, Facebook, and Google. FSN does not have any prior relationship with the Company aside from its previous engagement with the Company.
Qualified Person
Afzaal Pirzada, P.Geo., a “Qualified Person” for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
Faizaan Lalani
President & Director
About Medaro Mining Corp. (CSE: MEDA) (OTC: MEDAF) (FWB: 1ZY)
Medaro Mining is a lithium exploration company based in Vancouver, BC, which holds options on the Superb Lake lithium property located in Thunder Bay, Ontario, the Cyr South lithium property located in James Bay, Quebec and the Yurchison uranium property in Northern Saskatchewan. The Company is also involved in the development and commercialization of a new process to extract lithium from spodumene concentrate through its Global Lithium Extraction Technologies joint venture. Find out more at: https://medaromining.com/.
For detailed information, investors are invited to review the Company’s filings available at www.sedar.com.
FOR FURTHER INFORMATION CONTACT:
Investor Relations
Email: info@medaromining.com
Phone: 604-256-5077
Web: https://medaromining.com/
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements respecting (i) the implications of results and findings from the Program, (ii) the Company’s phase 2 exploration plans, (iii) the Company’s future exploration targets at the Property, (iv) the Company’s aim to continue developing its understanding of the underlying lithium prospect across the Property and (v) the focus of the Company’s efforts on defining drill targets and building project value are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
