VANCOUVER, BC / ACCESSWIRE / March 4, 2024 / Q Battery Metals Corp. ("Q Battery Metals" or the "Company) (CSE:QMET) is pleased to announce that the Company is currently in discussion with a Diamond Drilling Contractor to undertake drilling on the company's properties in 2024. The company expects to sign an agreement with the contractor in the near future. The agreement as discussed to date includes beneficial terms that are favorable to both Q Metals and the drilling contractor. In the duration, the company will continue to receive statements of interest from other drillers. Diamond drilling is being planned for the La Corne South and McKenzie East projects.
At the La Corne South, exploration to date has identified potential for lithium mineralization, as well as Volcanic Massive Sulphide (VMS) mineralization. The best lithium value of 622 ppm was obtained from blocks of rock found at surface on the margin of a ridge of outcrop. Two samples were taken from these blocks, both of which returned elevated Li, along with Cs, Al and Be, all indicators for pegmatite that can potentially be lithium bearing. The float blocks are interpreted as having been derived from a nearby source (see news releases dated October 15, 2023).
A number of surface outcrops and diamond drilling intercepts containing massive sulphide have been documented on the La Corne South property (see news releases dated July 28, 2020, and January 24, 2021). Historic trenching has uncovered a series of massive sulphide bodies on the property that were sampled primarily for gold content. Diamond drilling in 1971, 1972, 1978, 1987, and 2004 by Exploration Louphior, Sullico Mines, Hudbay Mining, and Noranda Inc intercepted massive sulphide bodies, only some of which were assayed for base metals. Noranda drill hole FIE-04-02 intercepted 2.2m of massive sulphide at 125m depth, assaying 0.7% Cu, 18gpt Ag, 0.2 gpt Au and 0.3% Zn. Sullico Mines Ltd 1971 hole F 71-1 intercepted 5.5 m of massive sulphide returning 0.2% Cu and 0.29% Zn. Q Battery completed deep-penetrating Time Domain Electromagnetic (TDEM) surveying and identified of a group of strong EM anomalies. They are located between 10 m and 130 m below surface with depth extensions of 75 m to 350 m trending north-south through the property, interpreted as potential sulphide bodies.
An Induced Polarization survey on the La Corne South is planned for Spring 2024. The ground surveys (IP chargeability and resistivity) will add to the geophysical data obtained from the previously completed drone-supported magnetics and ground TDEM surveys to provide more definition for eventual diamond drilling of both lithium and VMS targets.
At the McKenzie East, Q Battery Metals plans to continue expanding from the positive results obtained from its previous exploration. A proposed drill program is currently in the process of permitting to test and expand upon results obtained from the 2021- Phase 1 drilling that included 1.185 grams per tonne gold (g/t Au) over one metre from hole MKE-21-01 as well as intercepts of greater than 0.5 g/t from holes MKE-21-03, MKE-21-06 and MKE-21-08. Hole MKE-21-03 showed the most promise from the drilling campaign, where geologist observations indicated a section of core that contained a visible gold grain of approximate one mm by two mm size, as well as veining, alterations and associated sulphide minerals over a wide interval (see Q Metals news release dated July 13, 2021).
Q Metals is also planning to expand exploration into the southern claim block of the McKenzie East property in order to test for gold-silver quartz veins similar to those exposed within adjoining claims at the Maruska showing. At the Maruska, in 2023, Q Battery Metals obtained a rock sample that included chips from a number of the exposed quartz-pyrite veins. The sample was analyzed for gold by fire assay and inductively coupled plasma atomic emission spectroscopy, with a further 48 elements (including silver) by ME-MS61L (four-acid digestion). The sample returned 3.41 grams per tonne gold and 2.58 grams per tonne silver, confirming the presence of precious metals in the Maruska vein system (see Q Battery Metals news release dated Nov. 28, 2023). Q Metals is very interested in this documented gold showing due to its location very near to the south block of the company's McKenzie East claims. However, the reader is warned that results obtained from adjoining properties are not direct indications for potential on the Q Battery Metals claims.
The La Corne South and McKenzie East projects area within 5 km of each other, both easily accessed by Highway 397, 25 Km north of Val d'Or, Quebec.
Q BATTERY METALS CORP
Q Battery Metals exploration programs undertaken in Quebec are supervised by Dr. Mathieu Piché, OGQ, with office located north of Val d'Or. He is also a Q Battery Metals company director. The company has 100% interest in mineral claims within Quebec, targeting critical and precious metals. Projects include the La Corne South lithium and VMS property, the McKenzie East Gold property, the Lorrain Ni-Co-PGE property, and the recently acquired Versant rare earth elements (REE) property.
Perry Grunenberg, P.Geo, a "Qualified Person" as that term is defined under NI 43-101, has reviewed and approved the technical information in this news release.
Cautionary Statement
This press release contains forward-looking statements based on assumptions as of that date. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; fluctuations in the prices of commodities; operating hazards and risks; competition and other risks and uncertainties, including those described in the Company's Prospectus dated September 8, 2017 available on www.sedar.com. Accordingly, actual and future events, conditions, and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
