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Coloured Ties Applauds Azimut Exploration on Announcement of Drill Program on Its James Bay, Quebec Lithium Portfolio
Vancouver, British Columbia--(Newsfile Corp. - June 14, 2023) - Coloured Ties Capital Inc . (TSX...
About this update from Coloured Ties Capital Inc
[{"type":"text","content":"Coloured Ties Applauds Azimut Exploration on Announcement of Drill Program on Its James Bay, Quebec Lithium PortfolioVancouver, British Columbia--(Newsfile Corp. - June 14, 2023) - Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0) (\"TIE\" or the \"Company\") is providing the following update on Coloured Ties ongoing push for Azimut Exploration Inc (Azimut) to explore its lithium projects portfolio in James Bay, Quebec. Coloured Ties is a TSX-V listed investment issuer and holds investments in entities involved in James Bay, Quebec lithium exploration projects. These entities include Patriot Battery Metals, Winsome Resources, Superior International Mining, Q2 Metals Corp, Brunswick Exploration Inc. and privately held Quebec Pegmatite, Hertz Lithium, Canuck Lithium, Flowing Lithium. Coloured Ties is also a shareholder of Azimut and entities related to Coloured Ties management also own common shares of Azimut. Coloured Ties invested in Azimut for the highly prospective lithium portfolio held by Azimut, some of which adjoin major discoveries by Patriot Battery Metals at their Corvette Lithium Discovery and Winsome Resources at their Cancet and Adina Lithium Discoveries and is pleased to learn of Azimut's announcement and commencement of lithium focused exploration program on these properties.On June 13,2023, Azimut issued a news release announcing the following:\"Azimut Exploration Inc. is preparing a minimum 1,500-metre diamond drilling program to test several excellent lithium targets on the Galinee property in the Eeyou Istchee James Bay region of Quebec. The Property is a 50/50 joint venture between Azimut and SOQUEM, operated by Azimut. Prospecting work at Galinee is planned to start after the restrictions related to current fire conditions are lifted. The drilling program is scheduled to start in August.HIGHLIGHTS The maiden drilling program will test the down-dip extent of the significant discovery reported by Winsome Resources (\"Winsome\") on the adjacent Adina Property. At Adina, two east-west subparallel spodumene-bearing pegmatite zones have now been traced by drilling over a strike length of 830 metres for the Main Zone and 760 metres for the Footwall Zone (Winsome's press release of May 10, 2023).Public data suggests the two mineralized zones on Adina dip south toward the Galinee Property. The aim o...