VANCOUVER, British Columbia, Aug. 11, 2023 (GLOBE NEWSWIRE) -- Q Battery Metals (CSE:QMET) (OTCPink:BTKRF) (FSE:0NB), a mineral exploration company focused on exploration and development of battery, base, and precious metals, has closed the acquisition of its Pontax Lithium Project within the Quebec’s “Lithium Triangle”. The company’s newly acquired property, strategically positioned in an exceptionally active and promising area for lithium exploration, is an exploration stage project that has potential for hosting LCT pegmatites and associated lithium mineralization.
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It is surrounded by other significant lithium plays including Patriot Battery Metals’ Pontax project, Brunswick Exploration, Stria Lithium properties, and the Li-FT Power Ltd. large land package including the Moyenne Project. The claims cover 5,376 hectares in 101 contiguous claims.
The property’s vicinity to fertile peraluminous granite bodies, as well as being close to other known lithium deposits in the region provides strong incentive for lithium exploration. The granitic bodies and host lithologies are underexplored and need to be prospected for pegmatite bodies.
Management cautions that potential lithium resources that exist on nearby properties are not direct indicators of lithium mineralization on the company’s Pontax Lithium Project.
To acquire the project, Q Battery Metals purchased 100% of a private company for 5,800,000 shares, which is subject to approval by the CSE.
Q Battery Metals’ geologic team is in the process of compiling all available data for the Pontax Project in preparation for a Phase I exploration program. An initial geologic mapping and prospecting site reconnaissance is scheduled to be completed this summer.
The company is also exploring its flagship La Corne South lithium project, located north of Val d’Or, which covers 10 kilometres of the La Corne Batholith. At least 14 lithium projects are associated with the margins of the La Corne batholith within 20 km of the company’s La Corne South project, including Sayona Mining’s North American Lithium mine, a joint venture with Piedmont Lithium, which is just 11 km NW of Q Battery’s La Corne South project.
The company owns 100% of additional mineral claims within Quebec and British Columbia, where the company is targeting critical and precious metals, including the PegaLith project, located approximately 25 kilometres north of Gatineau, Quebec. It covers 636 hectares or 1,571 acres of strong geological and mineralogical indicators for lithium potential where pegmatites were previously small scale mined for industrial minerals.
The Pontax, La Corne, and PegaLith projects each have a variety of exploration targets, with the La Corne South currently being the project of immediate interest for lithium potential. Rock samples taken from the La Corne South are currently at the laboratory for analysis and the geologic team is preparing to return for continued targeted sampling in August.
The shares are trading at $0.035. For more information, please visit the company’s website, www.QMetalsCorp.com, or contact Richard Penn, CEO, at 778-384-8923.
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