FIRST ENERGY METALS ACQUIRES FALCON LAKE LITHIUM PROPERTY IN NORTHWESTERN ONTARIO, CANADA


VANCOUVER, BC, Jan. 12, 2022 /CNW/ – First Power Metals Ltd. (CSE: FE) (“First Power” or the “Firm) is happy is happy to announce that it has entered into an choice settlement to amass a lithium exploration property situated within the Thunder Bay Mining Division Northwestern Ontario, Canada. The Falcon Lake Lithium Property consists of 48 mining claims protecting roughly 960 hectares land situated roughly 325 km North-northeast of Thunder Bay, and 75 km northeast of Armstrong, Ontario. The Property accommodates three spodumene bearing lithium pegmatite occurrences which had been explored traditionally because the Fifties interval. Lithium is the first mineralization of curiosity in these pegmatites together with different uncommon metals similar to beryllium, cesium, rubidium, niobium and tantalum.

Flacon Lake Lithium Property Highlights

  • The Property hosts Mineral Deposit Stock (“MDI”) lithium occurrences as recorded on Ontario Mining Land Administration System and different sources on ODM Map 2100 by Pye (1968) which embrace Falcon Lake Discovery (MDI52I08NE00012), Falcon Lake West (MDI52I08NE00009) and Falcon Lake East (MDI52I08NE00013). 
  • The primary reported work on the Property was accomplished in 1956 by British Canadian Lithium Mines Ltd. (“BCLM”) on the Discovery, Falcon West and Falcon East occurrences (Darling, 1962). A complete of twenty-two diamond drill holes for roughly 1,658.57 metres (5,441.5 ft) had been drilled amongst the three showings. The 1956 diamond drilling outlined pegmatite zones to a depth of roughly 37 vertical metres (121 ft) from floor. Highlights of this drilling embrace 1.09% lithium (Li) over 10.97 m (36.0 ft) and 0.41% Li over 24.72 m (81.1 ft) from gap W-9 within the West zone and 1.13% Li over 4.91 m (16.1 ft) from gap E-4 within the East zone.
  • Canadian Ore Our bodies acquired the Property and carried out geological mapping together with litho-geochemical sampling, trenching, channel sampling and diamond drilling throughout 2009-11 interval.  Highlights of the exploration work outcomes are offered beneath (additionally see Tables 1-3):
    • In December of 2010, a complete of three NQ dimension holes for 263.10 metres had been accomplished and all three drill holes intersected the exhibiting at depth. A strike size of roughly 75 metres, a down dip continuity of roughly 60 metres and a mean true width of roughly 7 metres was estimated from drilling. A mean grade of 1.045% lithium oxide (Li2O) was calculated from drill outcomes. Drilling returned as much as 1.10% Li2O over 11.00 metres in gap CO-10-003 and the zone is open to depth. The southern extension of the zone was additionally confirmed on floor the place pattern H467554 returned 1,290 ppm Li from a pegmatite outcrop roughly 100 metres south of gap CO-10-002 (Desk 1).
    • Of the 30 seize samples taken, 4 returned analyses larger than 10,000 ppm Li (2.26% to 2.82% Li2O), together with related anomalous beryllium, cesium, gallium, niobium, rubidium and tantalum outcomes. Six of the remaining 26 samples returned anomalous lithium outcomes larger than 1,000 ppm (Desk 2).
    • The channel sampling program confirmed financial lithium tenor alongside the complete roughly 75 metre strike size of the Falcon Lake West incidence. Pattern highlights embrace seven samples ranging between 10,438 ppm Li to 14,800 ppm Li, 2.25% Li2O and three.19% Li2O, respectively. Channel samples returned 1.537% Li2O over 6.98 m from channel #3 and 1.427% Li2O over 2.87 m from channel #12, with anomalous beryllium, cesium, gallium, niobium, rubidium, tin and tantalum. Channel samples from the Falcon Lake East exhibiting returned as much as 0.441% Li2O over 1.97 m from channel #16, with anomalous beryllium, cesium, gallium, niobium, rubidium, tin and tantalum. The best single pattern taken returned 5,290 ppm lithium, 1.14% Li2O (Desk 3).

Assertion: Traders are cautioned that the above info is taken from the publicly obtainable sources. The Firm has not been in a position to independently confirm the data contained. The knowledge just isn’t essentially indicative of the mineralization on the Property, which is the topic of this information launch. The Firm might want to conduct exploration to verify historic mineralization reported on the property and there’s no assure that vital discovery might be made because of its exploration efforts.

Afzaal Pirzada, P.Geo., Geological Marketing consultant of the Firm, and a “Certified Individual” for the needs of Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives, has reviewed and permitted the scientific and technical info contained on this information launch.

Transaction Particulars:

Pursuant to a property buy settlement between the Optionor (Hemlo Exploration Inc.) and the Firm, January third, 2021 (the “Efficient Date”), First Power holds an choice to amass a 100% curiosity within the Property by making money funds of $75,000, issuing 600,000 widespread shares, and finishing up exploration expenditures of $250,000 over a interval of three years.  This above famous settlement is with a non-related celebration and there are not any administrators, officers or senior administration in widespread.

ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.

“Gurminder Sangha”
Gurminder Sangha
President & Chief Govt Officer

Neither the Canadian Securities Trade (CSE) nor its Regulation Companies Supplier accepts accountability for the adequacy or accuracy of this information launch and has neither permitted nor disapproved the contents of this information launch.

Ahead-looking Data 

Apart from the statements of historic truth, this information launch accommodates “forward-looking info” inside the which means of the relevant Canadian securities laws that’s primarily based on expectations, estimates and projections as on the date of this information launch. “Ahead-looking info” on this information launch contains details about the Firm’s info in regards to the intentions, plans and future actions of the events to the transactions described herein and the phrases thereon.

The forward-looking info on this information launch displays the present expectations, assumptions and/or beliefs of the Firm primarily based on info at present obtainable to the Firm. In reference to the forward-looking info contained on this information launch, the Firm has made assumptions concerning the Firm’s skill to acquire required approvals. The Firm has additionally assumed that no vital occasions happen exterior of the Firm’s regular course of enterprise. Though the Firm believes that the assumptions inherent within the forward-looking info are cheap, forward-looking info just isn’t a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such info because of the inherent uncertainty therein.

Desk 1: Drill Gap LC21-09 Assay Highlights

Gap ID

From
(m)

To
(m)

Width
(m)

Li2O
(%)

Ta2O5
(ppm)

Be
(ppm)

Cs
(ppm)

Nb
(ppm)

Rb
(ppm)

CO-10-001

69.30

83.30

14.00

0.99

52.5

145.4

166.0

62.5

2080.7

together with

69.30

74.30

5.00

1.25

46.6

214.7

189.8

69.4

2862.0

and

79.30

83.30

4.00

1.50

47.9

128.7

120.1

78.7

1657.5

CO-10-002

55.30

62.30

7.00

1.07

68.6

136.4

377.9

46.1

3477.1

CO-10-003

39.40

50.40

11.00

1.10

50.0

115.2

83.3

62.5

1377.1

together with

44.40

50.40

6.00

1.52

48.5

156.6

84.7

79.9

1670.0

Desk 2: Historic Floor Samples Outcomes

Pattern 
#

Li2O
 (%)

Li (%)

Li 
(ppm)

Rb 
(ppm)

Be 
(ppm)

Cs 
(ppm)

Ga 
(ppm)

Ta
(ppm)

Nb 
(ppm)

H467577

2.82

1.31

13100

1820

153

218

78

41.2

60.8

H467585

2.45

1.14

11400

1940

245

190

63.4

28.8

61.2

H467578

2.30

1.07

10700

2580

126.5

339

75.8

76.1

53.9

H467586

2.26

1.05

10500

1640

118

109

64.9

20.8

54.7

H467576

1.50

0.70

6990

3420

143.5

175

57.1

33.7

68.4

H467561

1.43

0.66

6640

2790

333

175.5

65.3

46.9

74.4

H467562

1.11

0.52

5150

2900

144.5

94.9

48.9

65

75.2

H467556

1.00

0.46

4630

3750

167

420

59.9

58.3

53.9

Desk 3: Channel Samples composites assays

Channel 
#

Size 
(m)

Li2
(%)

Li 
(ppm)

Be 
(ppm)

Cs 
(ppm)

Ga 
(ppm)

Nb 
(ppm)

Rb 
(ppm)

Sn 
(ppm)

Ta 
(ppm)

1

1.00

1.957

9089

243

61

77

66

2019

100

20

2

2.90

1.420

6595

154

104

58

56

2060

61

28

3

6.98

1.537

7139

139

166

61

67

2103

60

35

4

1.00

1.815

8429

206

169

62

67

1808

70

44

5

1.50

1.127

5232

109

184

53

79

2032

38

41

6

5.45

1.576

7319

110

147

57

75

2121

49

34

8

2.02

1.599

7427

156

198

63

64

1598

63

64

9

2.00

1.993

9257

136

140

66

75

1295

69

57

10

1.50

1.769

8218

123

266

77

162

1713

90

107

11

2.00

1.313

6097

181

380

71

68

2733

75

45

12

2.87

1.427

6628

131

237

60

58

3146

66

74

14

2.96

1.610

7480

145

133

64

72

1807

77

36

15

2.56

1.468

6819

146

267

68

55

3244

88

43

16

1.97

0.441

2046

167

154

53

70

2180

80

32

17

1.58

0.424

1971

166

151

52

79

2202

80

36

* Li2O% calculated as (Li ppm/1,000,000) x 2.153 x 100%

SOURCE First Power Metals Restricted

For additional info: please contact the Firm at: [email protected] or (604) 375-6005



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