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Cullinan Metals Signs LOI to Acquire Quebec Lithium Properties
Vancouver, B.C. – TheNewswire - August 23, 2023 - Cullinan Metals Corp. (CSE:CMT) (OTC:CMTNF) (FWB:7KO) ("Cullinan" or the "Company") is pleased to announce tha
About this update from Cullinan Metals Corp
[{"type":"text","content":"Vancouver, B.C. – TheNewswire - August 23, 2023 - Cullinan Metals Corp. (CSE:CMT) (OTC:CMTNF) (FWB:7KO) (\"Cullinan\" or the \"Company\") is pleased to announce that further to its news release dated August 21, 2023, it has entered into another non-binding letter of intent (“LOI”) with a vendor (“Vendor”) to acquire a 100% interest in and to a series of highly prospective lithium mineral properties (the \"Properties\") located in Northern Quebec. The LOI is dated July 26, 2023, and it includes a series of mineral projects located in Quebec, commonly referred to as “James Bay Pegmatite”, “James Bay Spodume”, “VS Lithium”, “VN Lithium”, and “Wells Lake”. The Properties Geologically, James Bay Pegmatite and James Bay Spodumene are located in the Superior geological province, which consists predominantly of amphibolite grade mafic to felsic metavolcanics, metasediments and minor gabbroic intrusions. Pegmatites occur as sharply bounded homogeneous to zoned bodies within igneous or metamorphic host rocks. VS Lithium and VN Lithium are situated on the Archean Preissac-Lacorne batholith, a syn- to post- tectonic intrusion that was emplaced in the Southern Volcanic Zone of the Abitibi Greenstone Belt of the Superior Province of Quebec. In this region, pegmatitic and aplitic dykes occur in muscovite granite, particularly near its north and south contacts where they constitute the bulk of the exposed rock. Generally, the best lithium mineralization can occur in the north and east striking pegmatite dykes. The deposit model for the area is that the target lithium mineralization is associated with lithium-cesium-tantalum (LCT) type pegmatites which are generally located in the upper parts of the pegmatites. LCT pegmatites are associated with S-type, peraluminous (Al-rich), quartz-rich granites. S-type granites crystallize from a magma produced by partial melting of preexisting sedimentary source rock. Wells Lake is a part of the Grenville Series of rocks which are mainly comprised of quartzofeldspathic, garnetiferous paragneiss and limestone / marble beds. Quartzites are the least abundant of rocks in this Series. The igneous rocks which have invaded the metasedimentary sequence consist of gabbros, monzonites, anorthosites and diabase. LOI Terms Pursuant to the terms of the LOI, the Company was granted the right to conduct a full due d...