Comet Reports Results from Mercator Summer Exploration Program and Corporate Update
Mercator Fieldwork and Results
During this maiden exploration program, three field teams completed reconnaissance traverses, covering a total of 18 kilometres. The program targeted three distinct areas identified via helicopter. Numerous white pegmatite outcrops hosted in paragneisses were observed, several of which contained black tourmaline and muscovite. In total, 15 outcrops and 26 boulders were sampled. Of these, five pegmatite samples (one outcrop and four boulders) returned a K/Rb ratio of ≤ 155 (see Figure 1 and Table 1). The four angular to sub-rounded boulders and one outcrop with anomalous ratios displayed the appropriate mineral assemblage of tourmaline and muscovite. All these prospective samples came from three areas: the west, center, and north of the Mercator Property. Based on these initial findings, additional fieldwork will be carried out, during the next round of exploration.
"We are pleased with the results from our initial reconnaissance program on the Mercator Property. Although it was a quick program, it confirmed the potential of the area. Several outcrops displayed a fertile environment for lithium discovery, and we are encouraged by the presence of the appropriate mineral assemblage in the samples collected. While this was just a first pass, the results warrant further exploration, and we are optimistic about the property's potential," commented
This table provides the most significant information from the samples collected during fieldwork program conducted in
Grant of
The Board of Directors has approved today a grant of an aggregate of 165,000 deferred share units ("DSUs") and stock options in respect of an aggregate of 45,000 common shares (the "Options") to the newly elected and appointed non-management directors of the Corporation. Each DSU entitles the recipient to receive one common share of the Corporation upon settlement of the DSU. The DSUs awarded will fully vest on the first anniversary of the date of grant and will settle on the termination of service. Each Option entitles the recipient to purchase one common share of the Corporation at a price of
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Documents & Figures
Mercator Maps, Images and Figures
Cautionary statements
Grab samples are selective by nature and may not be representative of mineralized zones.
QAQC
A Quality Assurance / Quality Control protocol following industry best practices was incorporated into the sampling program.
Samples were analyzed by SGS Natural Resources laboratories using a Sodium Peroxide Fusion / Combined ICP-AES and ICP-MS package for 57 elements (GE_ICP91A50 & GE_IMS91A50 methods).
In this batch of 168 primary samples, of which 43 primary samples are from Mercator,
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Comet Lithium is a dynamic focused exploration company active in the prolific
Forward-Looking Statements
This news release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Comet Lithium, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including if any additional fieldwork or exploration programs recommended on the Mercator Property will occur, an, the extent and the timing to conduct of such fieldwork or exploration program and the results of such fieldwork or exploration programs, and if it does so, what benefits Comet Lithium will derive from any such fieldwork or exploration programs. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Comet Lithium's control. These risks, uncertainties and assumptions include, but are not limited to the risks, uncertainties and assumptions described under "Financial Instruments" and "Risk and Uncertainties" in Comet Lithium's Annual Report for the fiscal year ended
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