Vancouver, British Columbia--(Newsfile Corp. - January 6, 2025) - Grit Metals (TSXV: FIN) (FSE: K9T) ("Grit" or the "Company") is pleased to report additional high grade assay results from Lithium-Cesium-Tantalum (LCT) pegmatite mineralization on its exploration licenses at its Central Finland Lithium Project.
Key Takeaways:
All assay results now received including the final batch of 150/660 total samples
Grab sample from spodumene bearing pegmatite assayed of 5.60% Li2O at Tarikko Prospect
Jylhä South-Southwest: Several large boulders up to 1.5 m diameter with visible spodumene discovered adjacent to the Mōrkylā Prospect where 15 large boulders up to 4 m diameter with visible spodumene discovered over a 275 metre (m") distance assayed from 0.004% to 2.46% Li2O
Figure 1. The Finland Lithium Pegmatite Project - New Spodumene Mineralization
Jylhä South-Southwest Three areas of new spodumene bearing pegmatite mineralization have been identified in the southern portion of the Jylhä license.
Approximately 225 m east of the Mōrkylā Prospect, a 1.2x1.0x0.7 m boulder assayed 0.94% Li2O . Mōrkylā is a 275 m long Northwest-Southeast trend of 15 large boulders and blocks of spodumene-bearing pegmatite. Individual boulders are over 4 m in diameter and contain course visible spodumene (see Figure 2) The boulders assayed from 0.004% to 2.46% Li2O, averaging 0.54% Li2O.
Figure 2. New Spodumene Mineralization in Jylha South
Approximately 1.7 km southwest of Morkyla a couple of spodumene bearing boulders assayed 0.11% and 2.13% Li2O. These boulders occur approximately 300 m southeast of a 3 m diameter boulder that assayed 1.47% Li2O. These boulders form another trend of mineralization that potentially has an up-ice source within the Jylha license.
Approximately 1.6 km south of Morkyla another cluster of spodumene pegmatite boulders occurs. The highlight of this cluster is a 1.5x1.5x1.0m boulder that assayed 0.62% Li2O.
Tarikko Prospect At the companies Koura Project located in the Seinajoki Lithium-Tin Belt a grab sample of an outcrop of an LCT pegmatite assayed 5.60% Li2O. The width and strike length of the pegmatite are unknown at this time. Koura occurs approximately 100 km south of the companies main group of licenses in the Kaustinen Lithium Tract.
Discussion
The Company's projects are in the Kaustinen-Seinajoki region, which is highly prospective for LCT pegmatite deposits, as evidenced by the success of the Geological Survey of Finland (GTK) and subsequently Keliber Oy in discovering significant Li-bearing spodumene pegmatite prospects and deposits in the region. The Company's success in identifying widespread spodumene-rich LCT pegmatitic boulders is very encouraging, as the area is topographically flat and extensively covered by a thin veneer of glacial overburden.
It is important to note that all the significant deposit and prospect discoveries (with one exception) in the belt were found by tracing boulders back to source and identifying the source ultimately through drilling. The GTK/Keliber Oy discoveries demonstrate that boulders are generally located within 300 – 500 m of their source suggests excellent potential for discovery on the Company's licenses.
Grit Metals cautions investors grab samples are selective samples by their nature and are not necessarily indicative of mineralization on the property. The Company further cautions the presence of lithium mineralization on Keliber Oy's properties is not necessarily indicative of similar mineralization on the Company's mineral reservations.
"Through multiple phases of exploration our team continues to discover new, highly prospective areas of LCT mineralization which has led to a tripling of our project size," commented Jeremy Poirier, CEO of Grit Metals. "This is a testament to the strength of our exploration team in their ability to discover the expressions and ultimately the source of these lithium rich deposits. Our exploration program remains fully-funded and continued until the end of October. The company will review all assays and determine next steps. Including the selection of multiple drill targets."
QA/QC Statement
Samples were submitted to ALS Laboratories in Sodankyla Finland. ALS inserted internal standards, blanks and pulp duplicates within each sample batch as part of their own internal monitoring of quality control protocols. Grit Metals monitors precision and bias performance by inserting certified lithium standards (CDN-LI-01 and GTA-05) as well as blanks into each batch submitted to ALS at a rate of 1:20.
The major element oxides and trace elements including Li, Cs, Ta and Be were analysed by ALS analytical package ME-MS89L involving digestion by Na2O2 fusion followed by ALS's super trace ICP-MS methodology. QAQC results to date do not indicate any analytical accuracy issues with all standards returning values Li values within 3 standard deviations of their certified mean and blanks returning expected values.
Mike Basha, P.Eng., P.Geo. (NL), VP Exploration of Grit Metals Corp., a Qualified Person as defined by National Instrument 43-101, has prepared this press release and compiled the results discussed herein.
About Grit Metals Corp.
Grit Metals Corp. is a junior mining company currently focussed on the Lithium-Cesium-Tantalum Finnish Pegmatite Project in central Finland. Governing bodies in Europe and Finland are legislating environmentally friendly and energy independent laws and policies. One of the key components is access to REE and, specifically, lithium. The company's exploration licenses are located within 1 kms of the Keliber mine and production complex, currently under construction and expected to begin production in H2 2025.
An estimated €600 million investment by Keliber's parent company Sibanye-Stillwater Limited (NYSE: SBSW) in partnership with the Finnish Minerals Group (www.mineralsgroup.fi) is underway in the Kautinen Region and will see the development of open-pit and underground mining from several deposits, construction of a central spodumene concentrator plant and a lithium hydroxide chemical plant at tidewater in Kokkola. When completed, this complex will comprise a complete hard-rock spodumene pegmatite lithium supply chain (source: www.sibanyestillwater.com).
The Company also has several 100 percent owned precious metals projects in Northern Finland. They are located in the Paleo-Proterozoic Greenstone Terrane of Northern Finland comprised of multiple greenstone belts including the CLGB which hosts world-class gold (eg Kittila Deposit, owned by Agnico Eagle and Ikkari Deposit, owned by Rupert Resources) and base metal deposits (eg Kevitsa owned by Boliden and Sakatti owned by Aglo-American). The belt's potential is also suggested by the presence of several major mining companies in the belt. The belt has very recently garnered significant interest following an offer from Rupert Resources to buy B2Gold's 70% interest in a Joint Venture between B2Gold and Aurion Resources which lies adjacent to Ruperts Ikkari Deposit, for $102 million. The joint venture ground is strategic to Ruperts proposed development of the Ikkari Deposit but is also host to numerous gold prospects along a structural corridor that extends >125 km.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the presence of lithium mineralization at, and the exploration and development potential of, the Finland Pegmatite Project. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by the Company in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include the costs of any anticipated work programs and the ability to fund such costs, required approvals in connection with any work programs and the ability to obtain such approvals, risks inherent in exploration as well as those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.
