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MegaWatt Metals: New Compelling Rock Chip sample assays reported for REEs at Arctic Fox Project
VANCOUVER, BC, Feb. 7, 2023 /CNW/ - Megawatt Lithium and Battery Metals Corp. (CSE: MEGA) (FSE: WR20) (OTCQB: WALRF) (the "Company" or "Megawatt") is pleased to
About this update from Megawatt Lithium And Battery Metals Corp.
[{"type":"text","content":" VANCOUVER, BC, Feb. 7, 2023 /CNW/ - Megawatt Lithium and Battery Metals Corp. (CSE: MEGA) (FSE: WR20) (OTCQB: WALRF) (the \"Company\" or \"Megawatt\") is pleased to report encouraging assay results from its recently completed rock chip sampling program at the Artic Fox project in central Northern Territory, Australia. The Company is targeting rare earth elements (REE) zones. In summary, a total of 58 samples were taken at the Arctic Fox Project. Discovery of new areas of mixed grain pegmatite continue to provide Megawatt with compelling new targets that merit follow up groundwork to assess for mineralization. While the 58 samples collected over the course of the program are indicative of REE mineralization, a helicopter borne follow up sampling and mapping program is planned in order to access certain areas of the project not easily accessed on foot or by road. The most significant sample values recorded comprise: Rock Chip sample AF22RS048 returned 2,160 ppm TREO including 1306 ppm Yttrium Rock Chip sample AF22RS051 returned 920ppm TREO including (31% Magnet REO) Rock Chip sample AF22RS057 returned 517 ppm TREO including (29% Magnet REO) Rock Chip sample AF22RS006 returned 456 ppm TREO including (28% Magnet REO) Rock Chip sample AF22RS007 returned 446 ppm TREO including (28% Magnet REO) Rock Chip sample AF22RS015 returned 436 ppm TREO including (24% Magnet REO) David Thornley-Hall Chief Executive Officer commented: \"We are pleased to report compelling results of the rock chip sampling program at Arctic Fox and we look forward to further investigation based on these results in order to develop a better understanding of the potential for significant rare earth mineralization in this region. The Arctic Fox Project is located circa 185 km by road north-west of Alice Springs in the Northern Territory (refer Figure 2). More significantly, it is 35 km north-west of Arafura Resources (ASX: ARU) world-class Nolan's Bore REE deposit which contains a Total Mineral Resource Estimate (MRE) of 56Mt at an average grade of 2.6% TREO and 11% phosphate (P2O5) that extends to 215 m below surface. In addition, the MRE has an estimated 26.4% Nd Pr enrichment1. The technical team believe the style mineralization being targeted within the Artic Fox Project is comparable to that apparent at Nolan's Bore. In geological terms Nolan's ...