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Cullinan Metals Signs LOI to Acquire Ontario Lithium Properties
Vancouver, BC - TheNewswire - August 21, 2023 - Cullinan Metals Corp. (CSE:CMT) (OTC:CMTNF) (FWB:7KO) ("Cullinan" or the "Company") is pleased to announce that
About this update from Cullinan Metals Corp
[{"type":"text","content":"Vancouver, BC - TheNewswire - August 21, 2023 - Cullinan Metals Corp. (CSE:CMT) (OTC:CMTNF) (FWB:7KO) (\"Cullinan\" or the \"Company\") is pleased to announce that it has signed non-binding letters of intent (the “LOI”), with two vendors (“Vendors” or individually, “Vendor One” and “Vendor Two”) to acquire a 100% interest in and to a series of highly prospective lithium mineral properties (the \"Properties\") located in Northwestern Ontario. The LOI with Vendor One is dated July 26, 2023, and it includes a series of mineral projects which are commonly referred to as “Flower Falls”, “Lily Pad”, “Dory Ariel-Lake”, “West Haig”, “East Haig”, “Ratte Lake” and “Flash Lake North”. The LOI with Vendor Two is dated July 31, 2023, and it includes two mineral projects that are commonly referred to as “Waspesi” and “North Maskerine”. The Properties The Flower Falls, Dory - Aerial Lake, West Haig, East Haig, and Flash Lake properties are located in a lithium-favorable geological setting in the vicinity of the Georgia Lake, Mavis Lake, Separation Rapids and GT1’s Root Lake properties in Northwestern Ontario where lithium prospects and deposits have been discovered. Geologically, the properties are hosted within metasediments of the English River Subprovince between two muscovite-bearing peraluminous granites. Lithium has been the primary mineral of economic interest in this area and the lithium mineralization style is dominantly hosted within spodumene-bearing pegmatite dykes and sills. The pegmatites of the area seem to be of magmatic origin and are generated by the progressive crystallization of granitic magma. They usually appear as loosely tabular dykes and sills, attenuated lenses, and small irregular-shaped bodies. Metasediments make excellent hosts for lithium-bearing pegmatites. The deposit model for the area indicates that rare-element lithium-cesium-tantalum (Li, Cs, Ta) pegmatites can fractionate up to 10km away from their parent granite (Breaks et al., 2003). Lilypad is directly adjacent to significant Ta Cs Rb mineralization. The closest significant mineralized outcrop on Lillypad is the JJ Dyke in adjacent property to the SE. Near the southwest edge of the property, on OGS map 992 are some small outcrops that are noted to be pegmatites. No previous drill holes or geochemistry was found in the project area. Very minimal work has ...