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Lithium One Acquires New Property Northeast of Patriot Battery Metals Corvette Lithium Project
Vancouver, British Columbia--(Newsfile Corp. - February 8, 2023) - Lithium One Metals Inc. (TSXV:...
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[{"type":"text","content":"Lithium One Acquires New Property Northeast of Patriot Battery Metals Corvette Lithium ProjectVancouver, British Columbia--(Newsfile Corp. - February 8, 2023) - Lithium One Metals Inc. (TSXV: LONE) (FSE: H490) (the \"Company\" or \"LONE\") is pleased to announce it has entered into an option agreement (the \"Option Agreement\") to acquire an additional lithium property in the James Bay region of Quebec, subject to the acceptance of the TSX Venture Exchange. The Ferrari Lithium property is located 35 km northeast of the Pontois-Corvette Lithium Projects owned by Patriot Battery Metals and 40 km northeast of LONE's Taycan Lithium property (Figure 1). The acquisition expands the Company's already significant land holdings in the rapidly growing James Bay region (Figure 2). The Company now has a total of 45,010 ha in Canada, with 19,060 ha in Quebec and 25,950 hectares in northwestern Ontario and expects to commence a multi-project work program in Spring, 2023.Acquisition HighlightsThe Ferrari Lithium Property. The 5,200 ha property is located approximately 40 km northeast of LONE's Taycan Lithium property, and 35 km northeast of the Pontois-Corvette Lithium Projects, where recent drilling has intersected grades up to 3.34% Li2O over 52.5 m.1 The property is also on the interpreted trend with the Jarnet Lithium project owned by Arbor Metals where it was recently reported that field activities identified a series of previously unmapped pegmatites (Figure 1).2The James Bay Lithium District. Located in the Canadian province of Quebec, James Bay is one of the country's fastest-growing lithium districts with ten advanced stage projects and numerous early-stage occurrences. Of particular note, the Whabouchi mine is one of the largest bulk tonnage lithium deposits in the world with a Mineral Resource of 36.6 Mt at 1.3% Li2O and a proposed mine life of 33 years.3 Additionally, the James Bay Lithium Mine has a Mineral Resource of 40.3 Mt at 1.4% Li2O and is proposed to produce an average of 321 Kt of spodumene concentrate per year over a 19-year mine life.4 Strategic Acquisition Continues to Expand its Dominant Position. The Ferrari Lithium property adds 5,200 ha of prospective ground to LONE's dominant land position in prime lithium districts. The Company now holds 45,010 hectares of lithium properties across Canada, with 19,060 hectares in...