VANCOUVER, British Columbia, June 13, 2022 (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 exploration in Canada, is pleased to announce that it has entered into a contract with Forage Hebert Inc. (Herbert) for their B-20 Diamond Drill to drill the Lac La Motte property located near Val D’Or, Quebec, Canada (the “Property”). The Property is composed of eleven (11) mineral claims, covering approximately 519 hectares.
Medaro has contracted Hebert to drill a series of NQ size diamond drill holes on lithium targets at Lac La Motte to test lithium showings on the property. The contract is for a minimum of 1,000 meters to a maximum of 3,000 meters. As Herbert itself is based in the town of Amos, Quebec, the mobilization cost’s will be kept at minimum. The mobilization will commence in the week of June 13.
The Lac La Motte Property is located in the prolific mining area of Abitibi, Quebec, 40 kilometers Northwest of the city of Val-d’Or. There are several active lithium prospects/mines located approximately 5 km to 20 km from the Property. These projects / prospects are at various stages of exploration and development of which Mine Quebec Lithium is the most advanced project followed by Authier lithium project. Historical Diamond Drilling in the 1950s’ on the Property has yielded results of over 1% lithium oxide in drill holes. The Company commenced a ground prospecting and sampling program immediately upon acquiring the Lac La Motte Property in May 2022. The field prospecting program has identified and confirmed various lithium pegmatite outcrops on the Property. The samples collected during the current prospecting work has been shipped to Activation Laboratories in Ancaster Ontario and results will be reported as soon as available.
Michael Mulberry, CEO of Medaro, stated, “Medaro Mining is excited to drill the Lac La Motte property. Medaro has committed to an extensive exploration program this summer at Lac La Motte and look forward to publicizing the results of our field program as soon as available, followed closely by assays of our recently commenced drill program. The current drill program will help not only to confirm the historical drilling work but also can be helpful in enhancing the footprint of the known lithium pegmatites on the Property.”
Cautionary Statement: Investors are cautioned that the above information and the information on the adjacent properties is taken from publicly available sources. The Company has not been able to independently verify the information contained. The information is not necessarily indicative of the mineralization on the Property, which is the subject of this news release. The Company will need to conduct exploration to confirm historical mineralization reported on the property and there is no guarantee that significant discovery will be made as a result of its exploration efforts.
Afzaal Pirzada, P.Geo., who is a consultant of the Company, and 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
Michael R. Mulberry
CEO and 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 the Agreement, the cash payments, the issuance of shares, the exploration expenditure, and the Bonus 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.
