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Megawatt Lithium and Battery Metals Provides Further Investigative Data for Uranium and REE Prospectivity Australian Projects
VANCOUVER, BC, May 31, 2021 /CNW/ - Megawatt Lithium and Battery Metals Corp's (CSE: MEGA) (FSE: WR20) (OTC PINK: WALRF) (the "Company" or "Megawatt") continuin
About this update from Megawatt Lithium And Battery Metals Corp.
[{"type":"text","content":" VANCOUVER, BC, May 31, 2021 /CNW/ - Megawatt Lithium and Battery Metals Corp's (CSE: MEGA) (FSE: WR20) (OTC PINK: WALRF) (the \"Company\" or \"Megawatt\") continuing data review of two its Australian properties, Artic Fox and Isbjorn, located in the Northern Territory, has unearthed historical surface readings for both rare earth elements (REE) and uranium. ARTIC FOX Rare earth element prospectivity The Arctic Fox property is contiguous Arafura Resources' (ASX: ARU) world-class Nolans Bore REE project and in a region prospective for REE and uranium. A Definitive Feasibility Study on Nolons Bore, completed in Feb 2019, confirmed the Total Ore Reserve was 19.2Mt @ 3.0% Total rare earth oxide (TREO); 13.0% P2O5 with 26.4% neodymium and praseodymium (NdPr) enrichment1. Historical surface assays, taken from scree material within gneiss source rock samples (4A-4C) in the central part of the Arctic Fox property, returned encouraging readings for REEs, including: 4A: 10.10% Ce, 4.75% La, & 2,750pmm Y 4B: 6.90% Ce, 3.15% La, & 1,900ppm Y 4C: 0.48% Ce, 0.21% La & 500ppm Y2 Further, an assayed composite sample, formed from equal portions of the three pulverised samples 4A-4B-4C, highlighted the following result: 14.8% REE with 26.8% Nd^ enrichment2 (Note: Pr has not undergone any reported laboratory assay for this composite sample). On a comparative basis and highlighting the exploration potential with respect to to similar underlying geology across the region, the Nd results from the Artic Fox property are in line with those at Nolans Bore – located 20km to the south-west1. Uranium potential According to the 2012 Annual Report, ARU reported its Total U3O8 Resource at Nolans Bore was 8,830t (47Mt @ 0.41lb/t U3O8), with 1,120t and 4,090t in the Measured & Indicated categories respectively3. Surface samples within and near the Arctic Fox property, coupled with radiometric trends into the southern part of the tenure (from ARU's ground), are indicators of underlying uranium mineralisation. More specifically, assayed samples of scree material from gneiss source rock, within the middle of the tenure, returned the following results: Sample ID N1-4A: 1,000ppm U equating to 1,179ppm U3O8 associated with 6.3% Th; and Sample ID N1-4B: 690ppm U equating to 814ppm U3O8 associated with 3.35% Th2 Two assayed rock chips found i...